BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc, said it paid a total of ₦13.6 billion in claims to policyholders across its General Insurance and Life business segments in the first quarter of 2026, spanning January to March.
The impressive payout underscores the company’s enduring commitment to prompt claims settlement, financial strength and the fulfilment of its core promise to policyholders, further affirming Mutual Benefits’ position as one of Nigeria’s most dependable and customer-focused insurance institutions.
Commenting on the development, the Managing Director of Mutual Benefits Assurance Plc, Mr. Olufemi Asenuga, stated that claims payment remains the strongest proof of an insurer’s credibility and value.
According to him, every settled claim represents a promise fulfilled, helping families recover, businesses bounce back and customers stay protected against unforeseen losses.
He added that the company remains committed to maintaining high standards in underwriting discipline, service delivery and claims responsiveness across all touchpoints.
The company’s latest performance also comes at a significant period for the Nigerian insurance industry, as recapitalisation discussions and market reforms continue to shape the sector. In this environment, Mutual Benefits’ sustained claims payment culture highlights its resilience, financial stability and customer-first orientation.
Industry observers have long maintained that prompt claims settlement is one of the most effective ways to build public confidence in insurance and deepen penetration across Nigeria.
With insurance penetration in Nigeria still below global averages, sustained public awareness of prompt claims payment remains essential to changing perceptions, encouraging uptake and building trust in the industry.
For over three decades, Mutual Benefits has built a reputation around reliability, nationwide reach and a consistent commitment to customers. Its sustained claims payment tradition remains one of the company’s strongest differentiators in a dynamic marketplace. Recent customer testimonials have also pointed to the relief and confidence policyholders derive from the company’s timely claims settlement.Such testimonials reinforce the real-life role insurance plays as a stabilising force for households and enterprises.
