Mutual Benefit Assurance Pays N5.94bn Claims in January

In January 2026, Mutual Benefit Assurance PLC disbursed a total of N5.94 billion in claims to its policyholders, showcasing its strong financial capacity and commitment to prompt claim settlements. The breakdown of the claims indicates that N3.43 billion was paid from its general non-life insurance portfolio, while N2.51 billion was allocated to its life business, which includes group life and retail life policies.

Mr. Olufemi Asenuga, the Managing Director of Mutual Benefit Assurance PLC, emphasized that claim settlement remains a core promise of insurance and serves as a critical test of an insurer's credibility. The January payout reflects the company's robust underwriting standards, prudent risk management practices, and efficient claims administration framework.

Mutual Benefit Assurance has positioned itself as a strong capitalized insurance company, fully compliant with regulatory capital requirements set by the National Insurance Commission (NAICOM). The company aims to deepen market trust and expand its footprint across both retail and corporate segments in 2026.