SanlamAllianz Nigeria has announced claims payments exceeding ₦77 billion for the 2025 financial year, underscoring its financial resilience and reaffirming confidence in the insurance sector despite persistent macroeconomic pressures.

The insurer, which operates through SanlamAllianz Life Insurance and SanlamAllianz General Insurance, disclosed that the payout covered obligations across its Life and General businesses, reflecting what it described as disciplined underwriting and sustained operational strength in a challenging economic climate.

According to unaudited results, the Life business recorded net claims incurred of ₦57.06 billion in 2025, compared with ₦51.04 billion in 2024, representing an 11.8 per cent increase year-on-year. The rise was attributed largely to inflationary pressures and higher benefit payouts, including medical-related claims across the industry.

Despite the elevated claims environment, the Life arm posted strong premium growth. Gross Written Premium (GWP) rose by 33.7 per cent to ₦81.39 billion in 2025, up from ₦60.86 billion in the previous year, signalling growing demand for risk protection products.
The Chief Executive Officer, Life Business, Tunde Mimiko, said the performance reflected the company’s focus on sustainable growth and policyholder protection.

“Our unaudited 2025 results reflect disciplined growth and an unwavering commitment to our policyholders. In a year defined by economic pressure, we honoured our obligations promptly and responsibly. The strong premium growth demonstrates increasing trust in our Life solutions and confidence in the SanlamAllianz value proposition,” he said.

In the General Insurance segment, claims payments rose significantly to ₦20.9 billion in 2025, from ₦13.97 billion in 2024 — a 47.6 per cent increase. Gross Written Premium for the business stood at ₦47.05 billion, reflecting expansion across both corporate and retail portfolios.

The Chief Executive Officer, General Insurance Business, Jacqueline Agweh, described the claims record as a key indicator of industry credibility.

“The true measure of an insurance company is its ability to pay claims efficiently and transparently. Our unaudited 2025 performance demonstrates operational strength and financial resilience. As part of the SanlamAllianz joint venture, we leverage global underwriting standards, strong capital backing and deep local expertise to ensure individuals and businesses remain protected against uncertainty,” she said.

SanlamAllianz Nigeria operates under a strategic joint venture between Sanlam and Allianz, combining African market leadership with global insurance expertise. The alliance spans multiple markets across the continent and is positioned to strengthen capital, governance and technical underwriting standards within Nigeria’s insurance industry.

The company said the ₦77 billion claims payout reinforces its brand promise, “Live with Confidence,” and highlights its role in providing financial security to individuals, families and businesses nationwide.