NSIA Insurance Pays N44 Billion in Claims, Marks 30th Anniversary

NSIA Insurance Company Limited has disbursed N44 billion in claims to policyholders over the past 10 years, reaffirming its commitment to prompt and transparent settlements.

Speaking at the company’s 30th anniversary celebration in Lagos, Managing Director Moruf Apampa emphasized that NSIA prioritizes swift claim payments, ensuring policyholders receive settlements within 48 hours of completing documentation.

Apampa highlighted the company’s financial growth, revealing that Premium Income rose from N22.3 billion in 2023 to N30.2 billion in 2024, while Profit Before Tax (PBT) increased from N3.2 billion to N3.7 billion. The company’s assets have also expanded significantly from N13 billion a decade ago to N59 billion today.

Chairman Dr. Adesegun Akin-Olugbade acknowledged NSIA’s resilience and customer trust, stating, “This milestone reflects our unwavering dedication to policyholders and our vision for continued growth.”

Looking ahead, NSIA Insurance plans to enhance digital services, strengthen customer engagement, and develop innovative products to meet evolving market demands. With a presence in 12 African countries, including Nigeria, Ghana, Côte d’Ivoire, and Senegal, the company remains a leader in the continent’s insurance sector.