Leadway Assurance to Pay N137 Billion in Claims

Leadway Assurance Plc announced that it paid N137 billion in claims to its clients during the 2025 financial year, a 17 percent increase from the N117 billion paid in 2024.

Leadway Managing Director Gboyega Lesi said the company remained committed in 2025 to supporting policyholders with prompt and consistent claims settlement, which he attributed to the rise in claims payments.

Lesi highlighted Leadway’s strong capacity to meet obligations across its life, annuity, and non‑life portfolios, underscoring its role as a reliable financial safety net for millions of customers facing losses amid uncertain times.

Breaking down the claims expenses, Lesi noted that the non‑life portfolio accounted for N55.4 billion, annuity payouts reached N57.9 billion, and life business claims totaled N23.7 billion.

He said these figures demonstrate the scale of Leadway’s operations and its continued leadership across multiple insurance segments.

“This is evident in the financial performance data, with insurance revenue growing by 30 percent, from N173.2 billion in 2024 to N225.3 billion in the year under review, driven by broad‑based growth across all business classes and resilient customer demand for insurance solutions aligned with the realities of an evolving market,” he said.