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Accept All Save My Preferences Reject All Powered by Menu Menu * Home * Business * Politics * Nigeria * International 2Open submenu * Health & Wellbeing * Education * Life & Style * Sport * Editorial * Backpage * Close submenuInternational * Africa * Rest of the World * * Monday, 3rd April, 2023 * * * * Home * Business * Politics * Nigeria * International * Africa * Rest of the World * Health & Wellbeing * Education * Life & Style * Sport * Editorial * Backpage * Search for: Breaking News TINUBU BEGINS TEAM BUILDING, CONSIDERS GBAJABIAMILA CHIEF OF STAFF 3 HOURS AGO FALANA: PRESIDENT CAN’T WITHHOLD ASSENT TO CONSTITUTION ALTERATION BILLS 4 HOURS AGO REUTERS SURVEY: AT ABOUT 1.6MBPD, NIGERIA’S OIL PRODUCTION WAS OPEC’S BIGGEST INCREASE IN MARCH 4 HOURS AGO BUHARI, ABIODUN, DABIRI-EREWA HAIL ANTHONY JOSHUA’S DEFEAT OF FRANKLIN 4 HOURS AGO LATEST HEADLINES Nigeria DELTA APC SUSPENDS NDDC CHAIRPERSON, LAURETTA ONOCHIE 10:10, 3rd Apr, 2023 by Ima Ekanem Breaking TINUBU BEGINS TEAM BUILDING, CONSIDERS GBAJABIAMILA CHIEF OF STAFF 07:00, 3rd Apr, 2023 by Emmanuel Addeh Breaking FALANA: PRESIDENT CAN’T WITHHOLD ASSENT TO CONSTITUTION ALTERATION BILLS 06:30, 3rd Apr, 2023 by Gboyega Akinsanmi Breaking REUTERS SURVEY: AT ABOUT 1.6MBPD, NIGERIA’S OIL PRODUCTION WAS OPEC’S BIGGEST INCREASE IN MARCH 06:00, 3rd Apr, 2023 by Emmanuel Addeh -------------------------------------------------------------------------------- LEADWAY BECOMES FIRST INSURANCE COY TO CROSS N104.4BN IN TOTAL PREMIUM Business | 6 hours ago Shares Share Tweet Pin Email Share Share Share Share Kayode Tokede Leadway has emerged the first insurance company in Nigeria to cross 3-digit billion mark with total premium collection of N104.4 billion of which Gross Written Premium is N92.5 billion, Savings & Investment is N10.8 billion and another N1.1 billion from its Ivorien Insurance subsidiary. Also, Leadway remains the leader in claims payment with N57.5 billion, making it the largest claim payer in the industry consistently in the last seven years, thereby showcasing the benefits of insurance as an intervening tool in preventing financial losses. The company also consolidated its financial strength in the year under review having recorded an increase in its total asset base from N502 billion in 2021 to N535 billion in 2022, while Risk Premium significantly rose from N71 billion in the previous year to N93 billion in the year under review. Consequently, the group recorded a 26 per cent increase in total premium from N83 billion in 2021 to N104.4 billion in 2022 with the growth attributed to the business’s ability to acquire new businesses for Group Life and its capacity to renew existing businesses. Speaking at the company’s 51st Annual General Meeting (AGM) held in Lagos, the Managing Director/Chief Executive Officer, Mr. Tunde Hassan-Odukale, emphasised the company’s resolute commitment to prompt claims payment to its esteemed policyholders despite the uncertainties and complexities surrounding the economic realities in the country and across the world. “We are delighted in the company’s 2022 financial performance that saw us record yet another industry milestone of improved claims payout to policyholders, despite the prevailing economic conditions and the debilitating double-digit inflationary pressures. This is duly attributable to our attractiveness to new customers and the confidence of existing ones to renew their policy contracts, affording us the headroom for growth and enabling our unwavering commitment to our policyholders. “We remain well-positioned, strengthened and financially secured to continuously deliver our mandate of outstanding risk management and wealth creation to our policyholders. We continue to sustain value creation to our stakeholders and as market leaders, bolster customers’ confidence in the industry. This performance further amplifies our quest to deepen insurance penetration in Nigeria and on the continent, “Hassan-Odukale stated. In his remarks, the Chairman of the Board of Directors, General Martin Luther Agwai (Rtd) stated, “As a flexible and market-sensitive Company, we remain resilient and resolute in the execution of our business strategy as well as our engagement with stakeholders across the value chain. We remain firmly committed to intensifying and amplifying our group synergy towards enhancing our business reach and replicating successes achieved in Nigeria across other regions in Africa.” Please accept cookies to access this content RELATED ARTICLES Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world. It is Nigeria’s most authoritative news media available on all platforms for the political, business, professional and diplomatic elite and broader middle classes while serving as the meeting point of new ideas, culture and technology for the aspirationals and millennials. The newspaper is a public trust dedicated to the pursuit of truth and reason covering a range of issues from breaking news to politics, business, the markets, the arts, sports and community to the crossroads of people and society. 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