Leadway Assurance total premium hits N104.4 bn

Leadway Assurance has become the first Nigerian company to cross 3-digit billion mark with total premium collection of N104.4 billion of which Gross Written Premium is N92.5 billion, Savings & Investment is N10.8 billion and another N1.1 billion from its Ivorien Insurance subsidiary.

Leadway also leads in its claims payment of N57.5 billion making it the largest claim payer in the industry consistently in the last seven years, thereby showcasing the benefits of insurance as an intervening tool in preventing financial losses.

The company also consolidated its financial strength in the year under review having recorded an increase in its total asset base from N502 billion in 2021 to N535 billion in 2022, while Risk Premium significantly rose from N71 billion in the previous year to N93 billion in the year under review.

Speaking at the company’s 51st Annual General Meeting (AGM) on Friday, March 31, 2023, the Managing Director/Chief Executive Officer, Mr. Tunde Hassan-Odukale, emphasised the company’s resolute commitment to prompt claims payment to its esteemed policyholders despite the uncertainties and complexities surrounding the economic realities in the country and across the world.

In his remarks, the Chairman of the Board of Directors, General Martin Luther Agwai stated, ” As a flexible and market-sensitive Company, we remain resilient and resolute in the execution of our business strategy as well as our engagement with stakeholders across the value chain. We remain firmly committed to intensifying and amplifying our group synergy towards enhancing our business reach and replicating successes achieved in Nigeria across other regions in Africa”.

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