Top 10 Nigerian insurers that paid the most claims in H1 2026
Ten listed Nigerian insurance companies collectively paid out N188.19 billion in claims in the first half of 2026, a 4.44% decline from N196.93 billion paid in the same period of 2025. The post Top 10 Nigerian insurers that paid the most claims in H1 2026 appeared first on Nairametrics .
In the first half of 2026, Nigeria's top 10 insurers paid out a total of N188.19 billion in claims, marking a 4.44% decrease from N196.93 billion in the same period last year, according to Nairametrics Research. This metric, claims paid, is a crucial indicator of an insurer's ability to meet its commitments to policyholders. The decline in claims paid may signal improved risk selection, more effective claims management, or a quieter period for insurable events.
Among the top insurers, SUNU Assurances Nigeria Plc led with N5.77 billion in claims, representing a 30.06% drop from N8.25 billion in the previous half-year. The company's claims-to-premium ratio of 44.15% signifies that for every N100 in received premiums, they paid out N44.15 in claims. SUNU's revenue increased by 18.37% to N11.80 billion, while profitability suffered, with profit before and after tax falling significantly.
Prestige Assurance Plc followed with N6.51 billion in claims, a 7% rise from N6.08 billion the previous period. The company's claims-to-premium ratio of 50.87% - the second-highest among the ten insurers - indicates they paid N50.87 in claims for every N100 in received premiums. Prestige's revenue grew by a minuscule 2.02% to N12.56 billion, yet profitability surged, with profit before and after tax more than doubling.
Lasaco Assurance Plc experienced the steepest decline, paying N6.60 billion in claims, a 64.45% decrease from N18.58 billion. Despite this, the company's claims-to-premium ratio of 31.90% suggests they collected more in premiums relative to claims compared to other insurers. Lasaco's revenue slipped by 3.21% to N16.35 billion, while its profit before and after tax declined by 15.81% and 47.38%, respectively.
Consolidated Hallmark Insurance Plc demonstrated remarkable growth, paying N9.15 billion in claims, a 70.77% increase from N5.36 billion. This resulted in a claims-to-premium ratio of 30.70%, the lowest among the top ten insurers. The company's revenue grew by 9.21% to N25.04 billion, and its profitability skyrocketed, with profit before and after tax surging by 1,436.21% and 2,083.06%, respectively, mainly due to exceptional gains from investment results.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
