Nigerian Insurers Paid N276.87 Billion in Claims in 2026

In the nine months ending September 2026, ten listed Nigerian insurance companies collectively paid out N276.87 billion in claims, marking a 13.42% increase from N244.10 billion in the same period of 2025. This data was compiled by Nairametrics Research based on financial figures from the Nigerian Exchange (NGX).

The increase in claims reflects higher payouts from seven of the ten insurers, with AIICO Insurance Plc (NGX: AIICO), AXA Mansard Insurance Plc (NGX: MANSARD), and NEM Insurance Plc leading in claims payments. Linkage Assurance Plc (NGX: LINKASSURE) reported N5.59 billion in claims, up 38.91% from N4.02 billion in 2025, with revenue increasing to N20.55 billion.

SUNU Assurances Nigeria Plc (NGX: SUNUASSUR) paid N8.63 billion in claims, a 4.56% rise, while Prestige Assurance Plc (NGX: PRESTIGE)'s claims decreased by 28.81% to N8.83 billion. The claims-to-premium ratios varied, indicating different levels of claims relative to premiums received across the insurers.