Leadway Assurance Company Limited has disbursed N67.1bn in claims as of December 31, 2023 and proudly maintained its position as the industry leader in claims payments for the eighth consecutive year. This is a significant increase from the N57.5bn paid in 2022.
This remarkable journey began in 2016 with N23 bn in claims payments, the highest by any individual insurer that year. Each subsequent year has seen substantial growth, from N27.40 bn in 2017 to N33.80 bn in 2018, reflecting Leadway’s unwavering commitment to its policyholders.
In 2019, claims payments rose to N38.40 bn, 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 bn in claims, demonstrating resilience and reliability. The unprecedented and sustained trend continued with N48 bn in 2021 and an impressive N57.5 bn 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.”
