Leadway Assurance posts N137bn claims payout, setting industry benchmark

Against the backdrop of a challenging yet gradually stabilizing macroeconomic environment, Leadway Assurance, Nigeria’s leading insurance services provider and a member of the Leadway Group, has delivered a robust financial performance for the 2025 financial year; reaffirming its standing as the nation’s most dependable insurer and a resilient force in the broader financial services landscape.

At the heart of Leadway’s 2025 story is its unwavering commitment to policyholders. The company paid out N137 billion in claims during the year, representing a 17% increase from the N117 billion recorded in 2024. This growth in claims settlement is not a cause for concern; it is a testament to the expanding scale of Leadway’s operations and its consistent ability to honor obligations across all business lines when customers need it most.

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The breakdown reflects the depth of the company’s portfolio: annuity payouts accounted for N57.9 billion, non-life claims for N55.4 billion, and life business claims for N23.7 billion. Together, these figures validate Leadway’s sustained leadership across multiple insurance segments and its role as a dependable financial safety net for millions of Nigerians navigating uncertainty.

Beyond claims, Leadway’s overall financial performance tells a compelling growth story. Insurance revenue rose by 30%, climbing from N173.2 billion in 2024 to N225.3 billion in 2025, driven by broad-based growth across all business classes and resilient customer demand for relevant, market-aligned insurance solutions. Total assets grew to N1.155 trillion, up from N1.024 trillion the previous year, further reinforcing the company’s strong balance sheet, healthy liquidity position, and capacity to meet policyholder obligations while pursuing long-term sustainable growth.

Commenting on the results, Gboyega Lesi, MD/CEO of Leadway Assurance, said: “Our 2025 performance reflects the resilience of our business model, the trust our customers continue to place in the Leadway brand, and our unwavering commitment to honouring obligations when customers need us most. Paying N137 billion in claims across our annuity, life, and non-life portfolios demonstrates the strength of our balance sheet and our customer-first commitment.”

Looking ahead, Lesi expressed confidence in the company’s strategic direction: “As the industry evolves under the Nigerian Insurance Industry Reform Act 2025, we remain well positioned to drive innovation, deepen insurance penetration, strengthen digital capabilities, and deliver sustainable long-term value to our customers and stakeholders.” He added that Leadway would continue to prioritise technology-driven innovation, enhanced customer experience, operational efficiency, and product development — all aimed at expanding access to insurance solutions across Nigeria.

With increasing insurance awareness, growing adoption of digital distribution channels, and a progressive regulatory reform agenda reshaping the Nigerian insurance sector, Leadway Assurance enters the next phase of its growth journey from a position of strength. The company remains firmly optimistic about the industry’s long-term prospects and its own capacity to maintain market leadership, drive penetration, and deliver meaningful value to customers and stakeholders alike.