Leadway Assurance paid N67.1bn claims to policyholders in 2023
Leadway Assurance Company Limited has proudly maintained its position as the industry leader in claims payments for the eighth consecutive year. As of December 31, 2023, Nigeria’s premier insurer disbursed an impressive N67.1 billion in claims, a significant increase from the N57.5 billion paid in 2022.
This remarkable journey began in 2016 with N23 billion in claims payments, the highest by any individual insurer that year. Each subsequent year has seen substantial growth, from N27.40 billion in 2017 to N33.80 billion in 2018, reflecting Leadway’s unwavering commitment to its policyholders.
In 2019, claims payments rose to N38.40 billion, showcasing Leadway’s ongoing dedication to excellence. Despite the challenges of the COVID-19 pandemic in 2020, the company supported its policyholders with N43.5 billion in claims, demonstrating resilience and reliability. The unprecedented and sustained trend continued with N48 billion in 2021 and an impressive N57.5 billion in 2022.
At the 52nd Annual General Meeting (AGM), Managing Director Mr. Gboyega Lesi emphasized that Leadway’s substantial and consistent claims payments have earned the trust and confidence of policyholders, setting a benchmark in the industry. He highlighted the company’s focus on operational efficiency, innovation, and customer experience enhancement.
“We remain ambitious in our quest to be the dominant insurance company in Nigeria,” Mr. Lesi stated. “Our strategic focus on customer-centricity, digital transformation, and business agility will drive us forward.”
Chairman of the Board of Directors, General (rtd) Martin Luther Agwai (CFR), added, “As leaders in our market, we are committed to sustainable growth by reaching new customer segments and exploring innovative distribution channels.”
About Leadway
Leadway Assurance is one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability. The organisation is committed to bridging the financial protection gap and increasing insurance penetration in Nigeria.
The company extended its footprint to the West African markets with Leadway Vie Limited, a life insurance services provider, and Leadway IARD Limited, a general insurance services provider fully operational in Cote d’Ivoire.
