BY NKECHI NAECHE-ESEZOBOR—Leadway Assurance Limited has delivered a robust financial performance for the 2025 financial year, with total claims expenses rosing by 17%, from N117 billion in 2024 to N137 billion in 2025, affirming its formidable capacity to honour obligations in the industry.
The non-life portfolio accounted for N55.4 billion of total claims expenses, while annuity payouts reached N57.9 billion, and life business claims accounted for N23.7 billion.
Insurance revenue rose by 30% from N173.2 billion in 2024 to N225.3 billion in the year under review while total assets grew to N1.155 trillion from N1,024 trillion.
Commenting on the results, Gboyega Lesi, MD/CEO of Leadway Assurance, stated, “Our 2025 performance reflects the resilience of our business model, the trust our customers continue to place in the Leadway brand, and our unwavering commitment to honouring obligations when customers need us most. Paying N137 billion in claims across our annuity, life, and non-life portfolios demonstrates the strength of our balance sheet and our customer first commitment” he said.
“As the industry evolves under the Nigerian Insurance Industry Reform Act 2025, we remain well positioned to drive innovation, deepen insurance penetration, strengthen digital capabilities, and deliver sustainable long-term value to our customers and stakeholders.”
“Leadway would continue to prioritise technology-driven innovation, enhanced customer experience, operational efficiency, and product development initiatives aimed at expanding access to insurance solutions across Nigeria”.
About Leadway Assurance
Leadway Assurance is one of Nigeria’s leading insurance companies, providing a wide range of financial protection services including life insurance, general insurance, among other financial solutions. With 55 years of experience, Leadway is dedicated to delivering innovative solutions and superior service to its customers.
