Business
LEADWAY Assurance says it paid N137 billion in claims during the 2025 financial year, representing a 17 per cent increase from 2024.
The company disclosed this in a statement issued on Tuesday in Lagos, highlighting sustained growth across its life, annuity and non-life insurance businesses.
Leadway said the increased claims payout reflected its strong capacity to meet obligations in spite of prevailing economic challenges affecting businesses and households nationwide.
According to the insurer, non-life business claims accounted for N55.4 billion, while annuity payments reached N57.9 billion during the review period.
The company added that life insurance claims stood at N23.7 billion, contributing to the overall N137 billion claims settled in 2025.
Leadway also recorded a 30 per cent increase in insurance revenue, rising from N173.2 billion in 2024 to N225.3 billion in 2025.
The insurer attributed the revenue growth to expansion across business segments and sustained customer demand for insurance products and services.
The company said total assets increased from N1.024 trillion in 2024 to N1.155 trillion in 2025, strengthening liquidity and balance sheet capacity.
Chief Executive Officer, Gboyega Lesi, said the performance reflected resilience in the company’s business model and growing customer confidence.
“Our 2025 performance reflects the resilience of our business model and the trust customers continue to place in the Leadway brand.
“Paying N137 billion in claims across annuity, life and non-life portfolios demonstrates the strength of our balance sheet and customer-first commitment,” he said.
Lesi said the company remained positioned to drive innovation and deepen insurance penetration under the Nigerian Insurance Industry Reform Act 2025.
He added that Leadway would continue prioritising technology-driven innovation, operational efficiency and improved customer experience across its operations nationwide.
According to him, product development initiatives would also expand access to insurance solutions and strengthen long-term value for customers and stakeholders.
Leadway expressed optimism about the insurance industry’s long-term growth prospects amid increasing awareness, digital adoption and ongoing regulatory reforms across Nigeria. (NAN)
F.O
Tags: Assurance Leadway