Leadway settles policyholders with N27.4 billion
28 May 2018 |
3:29 am
Leadway Assurance Company Limited has paid N27.4 billion claims to policyholders in 2017, an increase of 18.95% from the N23 billion paid in 2016, in demonstration of commitment to meet its obligations to policyholders. This was disclosed at the company’s 46th yearly meeting in Lagos, where the insurer presented its 2017 financial year results to shareholders across the…
Leadway Assurance
Leadway Assurance Company Limited has paid N27.4 billion claims to policyholders in 2017, an increase of 18.95% from the N23 billion paid in 2016, in demonstration of commitment to meet its obligations to policyholders.
This was disclosed at the company’s 46th yearly meeting in Lagos, where the insurer presented its 2017 financial year results to shareholders across the country.
As the largest insurer with balance sheet size of N272 billion, the company continues to position itself to provide the best in class financial security to its varied customers, ranging from individuals, corporates to large commercial/industrial clients.
This, the company said, is to exhibit market leadership with growth in its gross premium income, which increased by 57 per cent to N84.48 billion within the period under review.
Addressing shareholders at the meeting, the Chairman of Leadway Assurance, Gen. Martin Luther Agwai, said: “While the impact of the economic recovery remains mixed, we are optimistic that recovery from the throes of recession will continue as we navigate the issues and challenges that 2018 may bring.
“On our part, we are encouraged to leverage on our brand and strategic initiatives to increase insurance awareness, create risk products tailored to every segment of consumer needs delivering ‘happiness’, to rejuvenate insurance as a necessity.
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