Noor Takaful Distributes N427.96m Surplus to Customers

Noor Takaful Insurance Limited announced the distribution of N427.96 million as surplus to participants and enrollees who did not make claims during the 2024 financial year. This announcement was made by the Board Chairman, Ambassador Shuaibu Ahmed, at the 2024 Surplus Distribution and Claims Celebration Ceremony in Lagos, themed “Promise Kept: Celebrating Takaful’s Commitment to Shared Reward.” A total of 22 participants received surplus payments from Noor Takaful Insurance, while 2 enrollees received payments from Noor Health.

Ahmed emphasized that the surplus distribution reflects gratitude and accountability, showcasing a successful model of shared rewards. Vice Chairman Aminu Tukur noted that the distribution was based on the performance of the participants’ risk pool after settling claims and obligations.

The company has grown from about 60 participants at its inception to approximately 4,000. Olusegun Ayo Omosehin, represented by Usman Jankara from NAICOM, described the distribution as a demonstration of cooperation and mutual benefit among participants.