BY NKECHI NAECHE-ESEZOBOR—SanlamAllianz Nigeria has announced total claims payments of ₦65.02 billion across its Life and General Insurance businesses for the 2025 financial year, alongside a 33 per cent surge in gross written premium in its Life segment, underscoring strong growth momentum despite persistent macroeconomic pressures.
The insurer said its performance reflects financial resilience, disciplined underwriting, and an unwavering commitment to policyholders, as it continues to strengthen its market position under the Sanlam–Allianz joint venture.
According to the unaudited figures, released to BusinessTodayNG, the Life business recorded Net Claims Incurred of ₦57.06 billion in FY 2025, compared to ₦51.04 billion in FY 2024, representing an 11.8% year-on-year increase.
The increase reflects elevated claims costs driven by Nigeria’s 2025 macroeconomic environment, including inflationary pressures impacting benefit payouts and medical-related claims across the industry.
Despite this, the Life business delivered strong top-line growth, with Gross Written Premium (GWP) rising to ₦81.39 billion in 2025, up from ₦60.86 billion in 2024, a significant 33.7% year-on-year increase.
Commenting on the results, Tunde Mimiko, Chief Executive Officer, Life Business, said: “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. Our focus remains on protecting families and businesses so they can truly live with confidence.”
The General Insurance business, on the other hand, according to its unaudited results, paid ₦20.9 billion in claims in 2025, compared to ₦13.97 billion in 2024, marking a 47.6% year-on-year increase in claims settlement.
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.
Jacqueline Agweh, Chief Executive Officer, General Insurance Business, stated: “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.”
SanlamAllianz Nigeria operates under a strategic joint venture between Sanlam, Africa’s largest non-banking financial services group, and Allianz, one of the world’s leading global insurers. The alliance combines global risk management expertise, strong capital and governance frameworks, advanced technical underwriting capabilities, and deep local market understanding.
The company’s claims record reinforces its brand promise, “Live with Confidence.” By honouring over ₦77 billion in claims in 2025 alone, SanlamAllianz continues to provide financial security, stability, and peace of mind to individuals, families, and businesses across Nigeria.
About SanlamAllianz Nigeria
Formed as a merger of Sanlam, Africa’s biggest non-banking financial services firm and Allianz, easily the world’s most recognizable insurance brand in a JV across 28 countries on the continent, SanlamAllianz has become the clear leader in the non-banking financial services industry in Africa with strong commitments to be top two in every market in which they operate. Consummated in Nigeria as SanlamAllianz Nigeria in June 2025, the brand immediately embarked on a rebrand campaign which saw it dominate headlines to the delight of industry watchers.
