Mutual Benefit Assurance Pays N4.2 Billion in Claims

In February 2026, Mutual Benefit Assurance Plc disbursed a total of N4.2 billion in claims to its policyholders, demonstrating its commitment to delivering on promises and supporting customers in times of need. The company stated that this payout aligns with its ongoing focus on claim settlement, which is a core pillar of its operations.

Of the total amount, N2.328 billion was paid from the general non-life insurance portfolio, while N1.97 billion was allocated to the life business, which includes group life and retail life policies. Beyond the figures, the company emphasized the significant impact of these claim payments, particularly in helping individuals recover from losses and enabling businesses to maintain continuity despite disruptions.

The recent claim settlements have proven critical for beneficiaries, especially business owners in the construction sector, who faced unexpected losses on project sites that significantly disrupted timelines and increased costs for clients.