By Rosemary Iwunze
Leadway Assurance Firm Restricted has posted N173.2 billion in insurance coverage income, representing a 51 per cent enhance from N114.4 billion recorded in 2023.
The corporate acknowledged that the distinctive progress not solely solidifies Leadway’s market management but in addition considerably helps the Federal Authorities’s initiatives geared toward rising the Nigerian financial system by contributing considerably to the nation’s monetary companies sector and fostering financial stability.
In a transfer that aligns with the regulatory intention of deepening insurance coverage penetration throughout Nigeria, the corporate additionally reaffirmed its unwavering dedication to policyholder safety by settling a formidable N117 billion in complete claims. This payout maintains Leadway’s eight-year streak because the business’s highest claims-paying insurer, demonstrating the tangible advantages of insurance coverage and constructing public belief, which is essential for increasing the attain of insurance coverage companies.
The corporate acknowledged that the income progress was primarily pushed by robust efficiency throughout key traces of enterprise within the firm’s insurance coverage portfolio. Claims bills rose from N70.4 billion in 2023 to N117 billion in 2024, with the non-life section accounting for ?49.5 billion, adopted by ?44.9 billion in annuity payouts and ?23.2 billion in life enterprise claims.
Commenting on the outcomes, Gboyega Lesi, Managing Director of Leadway Assurance, stated: “Our 2024 outcomes mirror our resilience and readiness to adapt in an evolving market. This achievement is a testomony to our dedication to innovation, technology-driven service supply, and the relentless efforts of our distinctive workforce and companions.”
Common Martin Luther Agwai (Rtd.), Chairperson of the Board, added: “Our 2024 monetary efficiency demonstrates the agility, foresight, and robustness of our enterprise mannequin. It displays the dedication of our folks and the enduring belief of our clients”.
The submit Leadway Assurance records N173bn revenue appeared first on Vanguard News.
