Jaiz Takaful Insurance Declares N118m Surplus, Rewards Customers Without Claims

Jaiz Takaful Insurance has announced a surplus of N118 million for the 2023 financial year, rewarding customers who did not file claims during the period. The surplus distribution, approved by the National Insurance Commission (NAICOM), is a unique feature of the Takaful model, emphasizing a risk-sharing system in Nigeria's insurance sector.

Customers who contributed more through higher premiums will receive corresponding surplus returns. This approach aims to promote insurance inclusivity and trust, especially among those with religious concerns.

The company operates within Nigeria and maintains strategic partnerships for international reinsurance support.