Mutual Benefits Assurance Settles N5.93bn Claims in January

In January 2026, Mutual Benefits Assurance Plc paid a total of N5.93 billion in claims to its policyholders, reinforcing its reputation for dependability in the insurance sector. The breakdown of the claims included N3.42 billion from its general non-life insurance portfolio and N2.51 billion from its life insurance business, which encompasses group life and retail life policies.

Olufemi Asenuga, the Managing Director of Mutual Benefits Assurance Plc, emphasized that the swift settlement of these claims is a core promise of the insurance company and a testament to its credibility. The company, which has operated for three decades, maintains strong capitalization and compliance with regulatory capital requirements set by the National Insurance Commission (NAICOM).

The claims paid in January reflect the company's robust underwriting standards, prudent risk management practices, and efficient claims administration framework, further solidifying its status as a trusted brand in the Nigerian insurance industry. Mutual Benefits Assurance employs 5,000 staff and is managed by an experienced team.