Leadway settled shareholders N33.8b as claims in 2018
Leadway Assurance Company Limited has paid N33.8 billion in 2018 as against N27.4bn in 2017 to it’s customers, a statement from the company has said.
The company, at its 47th yearly general meeting in Lagos, noted that it also recorded a 15 per cent growth in assets to N312.7 billion recorded in 2018, against N271.9 billion in 2017, as well as four per cent increase in Gross Written Premium from N84.1 billion in 2017 to N87.5 billion in 2018. The Managing Director/Chief Executive Officer, Hassan Odukale, said the company has continued to lead other industry players in the area of claims payment, adding that the company paid claims in excess of N110 billion over the last five years.
“We are sincerely grateful to our treasured customers, brokers, agents and other stakeholders who have objectively trusted in the liquidity advantage and unmatched conservative risk reserves we hold as a yardstick for placing certain risks with us,” he said. The Chairman, General Martin Luther Agwai (rtd.) said Leadway’s operation in 2019 and beyond would be driven by the strategy of using digitization and creativity to harness unexploited and prompt means of selling insurance as a contingency benefit to its target market.
“On our part, we will not rest on our oars and will intensify our corporate strategy to identify the needs, behaviour and culture of our potential customers with an attentive ear to market-feedback and create products to address and protect the underlying risks the populace are susceptible to” he said.
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