Leadway Assurance has once again raised the bar in Nigeria’s insurance space, posting a remarkable ₦173.2 billion in revenue for the year ending December 31, 2024—a 51% increase from the ₦114.4 billion reported in 2023.
But it’s not just about record revenues.
Leadway also paid out an unprecedented ₦117 billion in claims, reinforcing its reputation as Nigeria’s most consistent and highest claims-paying insurer for the eighth year running. This commitment to policyholder protection is central to deepening public trust and growing insurance penetration nationwide.
At a time when many companies are navigating inflation, currency volatility, and weakened consumer spending, Leadway’s performance stands out as both resilient and responsible. Their financial strength not only supports customers, but also contributes meaningfully to Nigeria’s broader economic stability.
Where the Numbers Came From:
- ₦49.5 billion in non-life insurance claims
- ₦44.9 billion in annuity payments
- ₦23.2 billion in life insurance claims
What’s Driving It:
According to Gboyega Lesi, Managing Director of Leadway Assurance, the 2024 results reflect the company’s “resilience, innovation, and digital-first approach,” powered by a committed team and forward-thinking strategy.
General Martin Luther Agwai (Rtd.), Chairperson of the Board, highlighted that this performance confirms the strength of Leadway’s business model and the trust placed in it by millions of Nigerians.
With continued focus on technology, partnerships, and smart risk management, Leadway is not just looking to lead in Nigeria but across Africa’s financial services landscape.
