LEADWAY Assurance Company Limited disbursed N67.1 billion in claims as of December 31, 2023, a significant increase from the N57.5 billion paid in 2022.
The journey for Nigeria’s premier insurer began in 2016 with N23 billion in claims payments, the highest by any individual insurer that year.
Subsequently, each year, the company recorded substantial growth, from N27.40 billion in 2017 to N33.80 billion in 2018, reflecting Leadway’s commitment to its policyholders.
In 2019, claims payment rose to N38.40 billion, showing Leadway’s ongoing dedication to excellence.
In spite of the COVID-19 pandemic challenges in 2020, Leadway Assurance paid its policyholders with N43.5 billion in claims, demonstrating resilience and reliability.
The sustained trend continued with N48 billion in 2021 and N57.5 billion in 2022.
Managing Director Mr Gboyega Lesi, at the company’s 52nd Annual General Meeting (AGM), emphasised that its substantial and consistent claims payments have earned the trust and confidence of policyholders, setting a benchmark in the industry.
Also, Mr Lesi highlighted the company’s focus on operational efficiency, innovation and customer experience enhancement.
He said, “We remain ambitious in our quest to be the dominant insurance company in Nigeria. Our strategic focus on customer-centricity, digital transformation and business agility will drive us forward.”
Chairman of the Board of Directors, General (retd) Martin Luther Agwai, said: “As leaders in our market, we are committed to sustainable growth by reaching new customer segments and exploring innovative distribution.”
Leadway Assurance Limited is one of Nigeria’s foremost insurance companies with a reputation for service efficiency and customer reliability committed to bridging the financial protection gap and increasing insurance penetration in Nigeria.
The company extended its footprint to the West African markets with Leadway Vie Limited, a life insurance services provider and Leadway IARD Limited, a general insurance services provider fully operational in Cote d’Ivoire.
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