Stanbic IBTC Insurance Disburses N8.9bn in 2025 Claims

In 2025, Stanbic IBTC (NGX: STANBIC) Insurance Limited disbursed N8.9 billion in death claims and annuity benefits, continuing a trend of growth over five years. This total comprised N1.59 billion for 1,162 death claims and N7.37 billion for 4,824 annuity payments to retirees.

The overall number of payments reached 5,986, with the value increasing by 68.3 percent from N5.33 billion in 2024. Akinjide Orimolade, the chief executive of Stanbic IBTC Insurance, noted that the company has seen significant growth, with claims and annuity benefits rising from N358 million five years ago to N8.96 billion in 2025.

Death claims have increased over eightfold in value and twentyfold in number, while annuity payments have grown more than 40-fold in value. The company’s recent recapitalisation has strengthened its capital position, enabling further investment in policy administration and customer service, while maintaining prudent underwriting and risk management.