Wednesday, May 20, 2026
29.9 C
Lagos

Leadway Assurance Claims Payout of N137bn in 2025 Reinforces Market Leadership, Customer Trust

Against the backdrop of a challenging yet progressively stabilising macroeconomic environment, Leadway Assurance, Nigeria’s leading insurance services provider and a member of the Leadway Group, has once again demonstrated its position as the nation’s most dependable insurer, delivering a robust financial performance for the 2025 financial year.

Central to the company’s 2025 performance was its commitment to standing by policyholders through prompt and consistent claims settlement. Consequently, claims expenses rose by 17%, from N117 billion in 2024 to N137 billion in 2025, affirming Leadway’s formidable capacity to honour obligations across its life, annuity, and non-life portfolios, and its continued role as a dependable financial safety net for millions of customers navigating losses in these uncertain times.

The non-life portfolio accounted for N55.4 billion of total claims expenses, while annuity payouts reached N57.9 billion, and life business claims accounted for N23.7 billion. These figures validate the scale of Leadway’s operations and its sustained leadership across multiple insurance segments.

This is evident in the financial performance datasets with insurance revenue growing by 30% 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.

Total assets grew to N1.155 trillion from N1,024 trillion, further reinforcing the company’s strong balance sheet, liquidity position, and capacity to meet policyholder obligations while pursuing sustainable long-term growth.

Commenting on the results, Gboyega Lesi, MD/CEO of Leadway Assurance, stated: “Our 2025 performance reflects the resilience of our business model, the trust our customers continue to place in the Leadway brand, and our unwavering commitment to honouring obligations when customers need us most. Paying N137 billion in claims across our annuity, life, and non-life portfolios demonstrates the strength of our balance sheet and our customer first commitment” he said.

“As the industry evolves under the Nigerian Insurance Industry Reform Act 2025, we remain well positioned to drive innovation, deepen insurance penetration, strengthen digital capabilities, and deliver sustainable long-term value to our customers and stakeholders.”

Lesi added: “Leadway would continue to prioritise technology-driven innovation, enhanced customer experience, operational efficiency, and product development initiatives aimed at expanding access to insurance solutions across Nigeria.”

With increasing insurance awareness, growing adoption of digital distribution channels, and ongoing regulatory reforms within the Nigerian insurance sector, the company remains optimistic about the industry’s long-term growth prospects and its ability to maintain market leadership.

 

 About Leadway Assurance

Leadway Assurance is one of Nigeria’s leading insurance companies, providing a wide range of financial protection services including life insurance, general insurance, among other financial solutions.

With 55 years of experience, Leadway is dedicated to delivering innovative solutions and superior service to its customers.

 

spot_img
spot_img
spot_img

Hot this week

Nnamdi Azikiwe University Students Clinch ₦5m Top Prize at Heirs Insurance Hackathon Competition

Winners of the 2026 Heirs Insurance Hackathon from Nnamdi...

AIICO Deepens Commitment to Education, Capacity Development with Upgrade of CIFM Learning Hall

AIICO Insurance Plc, one of Nigeria’s leading insurance and...

Repton GMD Underlines Diligence, Determination in Goal Realisation

L-R: Otunba Odeyeyiwa Kazeem Olayemi, GMD/CEO Repton Group, Keynote...

CIG Motors: Pay ₦3m For a Brand New Car in May Splash Promo on Electric, Petrol Vehicles

New campaign introduces EasyPay auto-financing, major discounts and nationwide...

Understanding Why Corporates Need Credit Rating

In today’s dynamic financial landscape, silence leaves room for...

Topics

Mohammed Kari: Berthing Leadership & Technical Expertise in NAICOM

President Muhammadu Buhari recently approved the appointment of Alhaji Mohammed Kari as the new Commissioner for Insurance and Chief Executive of the National Insurance Commission (NAICOM). His appointment was conveyed vide a letter signed by the Head of the Civil Service of the Federation, Danladi Kifasi. He succeeds Mr. Fola Daniel whose second and final tenure as Commissioner for Insurance lapsed on Friday, July 31, 2015.

Petroleum Minister, NCDMB Boss, Simbi Wabote, Inspect Facilities at Gas Hub

L-R: Minister of State for Petroleum Resources (Oil), Senator...

Niger Insurance Reports N593m Profit, Plans New Business Model

Niger insurance Plc has reported operating profit of N593...

NCDMB to Feature Ex-NIMASA DG, Dakuku Peterside, in Book Reading Session

The Nigerian Content Development and Monitoring Board (NCDMB) has...

SVP 2021-2025 is Catalyst for 5G, Broadband Penetration, Telecom Infrastructure-Danbatta

The Nigerian Communications Commission (NCC) says its Strategic Vision...

Will Islamic Finance Power Growth in Sub-Saharan Africa?

As home to a quarter of the world’s Muslims,...

Nigeria Power Council Adopts Sustainable Energy Agenda

The Nigeria National Council of Power (NACOP) has adopted...
spot_img

Related Articles

Popular Categories

spot_imgspot_img