FBNInsurance pays N16.1 billion claims to customers in 2021

One of Nigeria’s leading insurance companies and the one adjudged the most profitable life insurance company in Nigeria has revealed that it paid ₦16.1 billion claims to its customers at year-end December 31, 2021.

While speaking on the company’s claims profile, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, disclosed that the company’s commitment to satisfying her clients is non-negotiable. “At FBNInsurance Limited, we are in the business of paying genuine claims that are due. Our strategy remains to provide financial security for our clients and as always, we will not rest on our oars to exceed our customers’ and stakeholders’ expectations, because, to us, the Customer is King,” Mr. Ojumah concluded.

Speaking further, Ojumah reiterated that “Customer satisfaction is the fulcrum of insurance business, and this inevitably builds customer loyalty, and we will not fail to ensure this. We believe once FBNInsurance is able to pay customers’ claims as they arise, numerous customers and the general public will have faith to take up more life policies because they are convinced that should a claim/loss arise, FBNInsurance will be able to meet its financial obligations to them”.

Recall that FBNInsurance paid ₦11.5bn claims in 2020; this was in spite of the challenging operating environment in the country, especially as the world continues to battle with the economic effect of the Covid pandemic.

FBNInsurance Limited is a member of the Sanlam Group, a leading diversified, pan-African financial services group that through its diversification strategy has created value for stakeholders for more than 100 years with a business presence across 33 countries in Africa as well as in the USA, Europe, Malaysia, Australia, the UK, and India.

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April 29th, 2022

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