By Ayomide Otitoju
Leadway Assurance Company Limited has announced a record-breaking ₦173.2 billion in insurance revenue for the financial year ending December 31, 2024—marking a 51% increase from ₦114.4 billion in 2023.
The insurance giant also disclosed the settlement of ₦117 billion in claims, reinforcing its status as Nigeria’s top claims-paying insurer for the eighth consecutive year.
The company said its robust performance supports the Federal Government’s efforts to deepen insurance penetration and foster financial stability amid inflation and economic volatility.
Claims distribution in 2024 included ₦49.5 billion in non-life insurance, ₦44.9 billion in annuities, and ₦23.2 billion in life claims.
Commenting on the results, Leadway Managing Director Gboyega Lesi stated, “These figures reflect our resilience, adaptability, and unwavering commitment to innovation and customer satisfaction.”
He added that the company would continue its digital transformation journey while enhancing risk management and expanding strategic partnerships.
Board Chair, Gen. Martin Luther Agwai (Rtd.), described the performance as a testament to “the robustness of our business model and the trust of our customers.”
Leadway said it remains committed to becoming Nigeria’s leading non-banking financial services provider, driven by innovation, professionalism, and integrity.
