Leadway Assurance has recorded a 30 per cent increase in insurance revenue for the 2025 financial year, rising to N225.3bn from N173.2bn in 2024, driven by strong customer demand and growth across its life, annuity and non-life businesses.
The company also paid out N137bn in claims during the year, underscoring its position as one of Nigeria’s largest and most reliable insurance providers.
According to the firm, claims expenses increased by 17 per cent from N117bn in 2024, reflecting its continued commitment to prompt settlement of customer claims amid growing economic uncertainty.
The breakdown of payouts showed that non-life insurance claims accounted for N55.4bn, annuity payouts stood at N57.9bn, while life insurance claims reached N23.7bn.
Leadway’s total assets also climbed to N1.155tn in 2025 from N1.024tn recorded a year earlier, strengthening the company’s liquidity position and long-term financial stability.
Commenting on the performance, Leadway Assurance Managing Director and Chief Executive Officer, Gboyega Lesi, said the results reflect customer trust and the company’s ability to meet obligations consistently.
“Our 2025 performance reflects the resilience of our business model, the trust our customers continue to place in the Leadway brand, and our unwavering commitment to honouring obligations when customers need us most,” Lesi stated.
“Paying N137bn in claims across our annuity, life and non-life portfolios demonstrates the strength of our balance sheet and our customer-first commitment,” he added.
Lesi noted that the company remains optimistic about future growth opportunities in the insurance sector, especially with ongoing industry reforms and increasing digital adoption across Nigeria.
“As the industry evolves under the Nigerian Insurance Industry Reform Act 2025, we remain well-positioned to drive innovation, deepen insurance penetration, strengthen digital capabilities and deliver sustainable long-term value to our customers and stakeholders,” he said.
The insurer also revealed plans to expand technology-driven services, improve customer experience and develop more accessible insurance products to reach a wider market across the country.
