SanlamAllianz Nigeria has announced that it paid over ₦77 billion in insurance claims across its life and general insurance businesses in the 2025 financial year, demonstrating its strong commitment to policyholders despite Nigeria’s challenging economic climate.
The insurance group—made up of SanlamAllianz Life Insurance and its subsidiary SanlamAllianz General Insurance—said the massive claims payout highlights its financial resilience, operational strength, and reliability as a risk partner for individuals and businesses.
A Strong Commitment to Policyholders
According to Tunde Mimiko, Chief Executive Officer of SanlamAllianz Life, the company’s performance reflects the strength of the SanlamAllianz joint venture, which combines African market leadership with global insurance expertise.
He noted that the large claims payout reinforces the company’s promise to stand by customers when it matters most.
“The results reflect disciplined growth and an unwavering commitment to our policyholders,” Mimiko said.
Premium Growth Despite Economic Pressures
Despite increasing claims costs driven by Nigeria’s economic conditions, the life insurance business recorded strong revenue growth in 2025.
The company reported that Gross Written Premium (GWP) rose significantly to ₦81.39 billion in 2025, compared to ₦60.86 billion in 2024—representing a 33.7% year-on-year growth.
Industry analysts say the rise in claims payments across the sector has been partly driven by inflationary pressures and rising medical-related claims, which have increased benefit payouts for insurers.
General Insurance Arm Highlights Operational Strength
Also speaking on the company’s performance, Jacqueline Agwew, Chief Executive Officer of the general insurance business at SanlamAllianz General Insurance, emphasized that the ability to settle claims efficiently remains the true measure of an insurance company’s credibility.
“The true measure of an insurance company is its ability to pay claims efficiently and transparently. Our unaudited 2025 performance demonstrates operational strength and financial resilience,” she stated.
Agwew added that the company continues to leverage global underwriting standards, strong capital backing, and deep local market expertise through the SanlamAllianz partnership to protect customers against uncertainty.
Strengthening Confidence in Nigeria’s Insurance Sector
The ₦77 billion claims payout underscores SanlamAllianz Nigeria’s role as one of the leading insurers supporting businesses, families, and individuals across the country.
At a time when economic pressures are affecting many sectors, industry watchers say strong claims settlement records like this are critical for building public confidence in insurance and expanding insurance penetration in Nigeria.
With solid premium growth and continued investment in customer protection, SanlamAllianz Nigeria appears well-positioned to maintain momentum and deepen trust in the Nigerian insurance market.
