SanlamAllianz Nigeria Pays N77 Billion in Claims as Premium Income Rises in 2025

SanlamAllianz Nigeria said it paid N77 billion in claims in the 2025 financial year, as the insurer reported higher payouts across both life and general business lines amid inflation and wider macroeconomic pressure.

The company, which includes SanlamAllianz Life Insurance and SanlamAllianz General Insurance, said the claims performance reflected its capacity to meet obligations while maintaining growth in premium income.

Unaudited figures showed the life business posted net claims incurred of N57.06 billion in 2025, up from N51.04 billion in 2024, representing an 11.8 per cent year-on-year increase.

SanlamAllianz linked the rise partly to economic conditions that pushed up benefit and medical-related costs across the market. Despite that pressure, life Gross Written Premium climbed to N81.39 billion in 2025 from N60.86 billion in 2024, indicating 33.7 per cent growth.

“Our unaudited 2025 results reflect disciplined growth and an unwavering commitment to our policyholders,” said Tunde Mimiko, chief executive officer, Life Business.

“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.”

In general insurance, the company reported N20.9 billion in claims for 2025 compared with N13.97 billion in 2024, a 47.6 per cent increase in claims settlement.

Gross Written Premium in that segment stood at N47.05 billion, which the company said reflected continued underwriting depth and portfolio expansion across retail and corporate business.

“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,” said Jacqueline Agweh, chief executive officer, General Insurance Business.

SanlamAllianz Nigeria operates under a joint venture between Sanlam and Allianz. The firm said its 2025 claims record supports its “Live with Confidence” promise and reinforces its role in providing financial protection to households and businesses in Nigeria.