Leadway Assurance Limited has been named Insurance Company of the Year at the 14th BusinessDay Banks and Other Financial Institutions (BAFI) Awards, held at the Civic Centre, Lagos.
The recognition marks the company’s third consecutive win in the category, following its victories in 2024 and 2025, reinforcing its track record of sustained performance and standing in Nigeria’s insurance industry.
The achievement comes on the heels of a strong 2025 financial year, during which its revenue grew by 30%,from ₦173.2 billion in 2024 to ₦225.3 billion, while total assets increased from ₦1.024 trillion to₦1.155 trillion.
A statement released today noted that claims paid also rose by 17%, from ₦117 billion to ₦137 billion.
Speaking on the award, Gboyega Lesi, Managing Director/CEO of the company said: “Being named Insurance Company of the Year for the third consecutive year is a strong affirmation of the confidence our customers place in us. That confidence is built on consistency, accountability, and our ability to deliver when it matters most.
He noted that the ₦137 billion in claims paid in 2025 reflects this responsibility in tangible terms and reinforces our commitment to helping individuals and businesses navigate uncertainty with greater financial security.
“Our responsibility, however, extends beyond insurance. Financial wellbeing requires an integrated approach to protection, wealth creation, security, wellbeing and legacy planning. Through Leadway ecosystem, we are strengthening the connections across these needs to deliver more comprehensive solutions for individuals, families and businesses. This award is both an endorsement of the work we have done and a responsibility to keep raising the bar for service, value and trust across the industry.”
The leading insurer continues to evolve its product offerings in response to customers’ changing needs and emerging market opportunities.
In August 2026, the company introduced the Leadway Lifetime Plan, a whole of life insurance solution designed to extend financial protection to policyholders’ wider families while providing access to financial value during their lifetime.
In September, it unveiled the Arrival Pack, a specialised insurance solution for short term visitors to Nigeria and the businesses that serve them, ahead of the busy Detty December travel season.
Together, these offerings reflect Leadway Assurance’s commitment to product innovation and customer centric solutions, translating emerging needs into relevant insurance offerings that deliver value at different stages of life and across diverse customer segments.
Established in 2013, the BusinessDay Banking and other FinancialInstitution (BAFI) Awards celebrate outstanding performance across Nigeria’s banking and wider financial services industry, recognising the institutions and leaders shaping innovation, resilience, and growth
