An underwriting firm, Leadway, said it paid nearly N500 billion in insurance claims in the past eight years, underscoring its growing impact on financial inclusion and economic stability.

The insurer’s consistent claim performance has reinforced trust in insurance as a vital tool for protecting livelihoods and supporting long-term financial security.

From its modest beginnings in 1970, Leadway has evolved from a traditional insurer into a diversified financial service group that plays a critical role in cushioning Nigerians against economic shock.

Data from the company show that between 2016 and 2024, it disbursed over N500 billion in life and non-life claims, including N117 billion in 2024 alone.

Industry watchers note that such products not only restore livelihoods but also contribute significantly to national liquidity and consumption, especially during periods of economic downturn.

Speaking on the development, Group Managing Director, Tunde Hassan-Odukale, said the insurer’s journey mirrors Nigeria’s broader pursuit of resilience and inclusion.

“Leadway’s story is that of transformation from providing financial relief through risk management to building a holistic wellbeing and access platform that supports millions of Nigerians,” he said.