SanlamAllianz Nigeria has announced total claims payments of over ₦77 billion across its Life and General Insurance businesses for the 2025 financial year, underscoring its financial strength and commitment to policyholders despite prevailing macroeconomic challenges.
The company, comprising SanlamAllianz Life Insurance and its subsidiary SanlamAllianz General Insurance, disclosed the figures in a statement issued by its Group Head, Strategy, Marketing and Customer Relations, Chris Ekwonwa.
According to the statement, the performance highlights the strength of the SanlamAllianz joint venture, which blends African market leadership with global insurance expertise.
Unaudited results show that the Life business recorded net claims incurred of ₦57.06 billion in 2025, up from ₦51.04 billion in 2024, representing an 11.8 per cent year-on-year increase.
The rise was attributed to elevated claims costs driven by inflationary pressures and higher medical-related payouts amid Nigeria’s challenging economic environment.
Despite increased claims, the Life segment posted strong premium growth. Gross Written Premium (GWP) rose to ₦81.39 billion in 2025 from ₦60.86 billion in 2024, marking a 33.7 per cent year-on-year increase.
Chief Executive Officer of the Life Business, Tunde Mimiko, said the 2025 performance reflected disciplined growth and a strong commitment to policyholders.
“Our unaudited 2025 results reflect disciplined growth and an unwavering commitment to our policyholders. In a year defined by economic pressure, we honoured our obligations promptly and responsibly. The strong premium growth demonstrates increasing trust in our Life solutions and confidence in the SanlamAllianz value proposition,” he said.
The General Insurance business paid ₦20.9 billion in claims in 2025, compared to ₦13.97 billion in 2024, representing a 47.6 per cent increase year-on-year.
Gross Written Premium for the General business stood at ₦47.05 billion in 2025, reflecting sustained underwriting capacity and expansion across corporate and retail portfolios.
Chief Executive Officer of the General Insurance Business, Jacqueline Agweh, described claims settlement as the true test of an insurer’s strength.
“The true measure of an insurance company is its ability to pay claims efficiently and transparently. Our unaudited 2025 performance demonstrates operational strength and financial resilience.
“As part of the SanlamAllianz joint venture, we leverage global underwriting standards, strong capital backing, and deep local expertise to ensure individuals and businesses remain protected against uncertainty,” she said.
SanlamAllianz Nigeria operates under a strategic joint venture between Sanlam and Allianz, combining global risk management expertise, strong capital and governance frameworks, advanced underwriting capabilities, and local market knowledge.
Formed in Nigeria in June 2025 following the merger of the two brands, the company has positioned itself as a leading non-banking financial services provider in Africa, with a strategic ambition to rank among the top two players in each market where it operates.
By settling over ₦77 billion in claims in 2025 alone, SanlamAllianz Nigeria said it remains committed to delivering financial security and reinforcing its brand promise of enabling customers to “Live with Confidence.”
Comment here