Nigerian Insurers Paid N188.19 Billion in H1 2026 Claims

In the first half of 2026, ten listed Nigerian insurance companies collectively paid out N188.19 billion in claims, reflecting a 4.44% decline from N196.93 billion in the same period of 2025, according to data from Nairametrics Research. SUNU Assurances Nigeria Plc paid N5.77 billion in claims, down 30.06% from N8.25 billion in H1 2025, with revenue increasing to N11.80 billion but profit before tax falling 85.45% to N234.15 million.

Prestige Assurance Plc paid N6.51 billion in claims, up 7.00% from N6.08 billion, with revenue rising to N12.56 billion and profit before tax increasing 97.13% to N1.14 billion. Lasaco Assurance Plc reported a steep decline in claims paid, amounting to N6.60 billion, down 64.45% from N18.58 billion, alongside a decrease in revenue to N16.35 billion.

Consolidated Hallmark Insurance Plc paid N9.15 billion in claims, up 70.77% from N5.36 billion, with revenue increasing to N25.04 billion.