WorldStage– Mutual Benefits Assurance Plc, a leading insurance company in Nigeria, operating in non-life insurance, risk management, and microfinance banking paid ₦5.5 billion in claims to policyholders in April 2026, with about 70 percent of the claims going to general business portfolio.
According to the insurer, the claims payout confirms the company’s commitment to fulfilling its promises to customers promptly and consistently.
A breakdown of the claims settlement revealed ₦3.7 billion went for the General Business portfolio, while ₦1,914,029,614.93 went for Life Business portfolio, covering Group Life and Retail Life policies.
Among the claims settled are motor, engineering, marine, life protection, death benefits and other insured risks.
“Insurance is ultimately about trust. At Mutual Benefits, we understand that our relevance is not measured merely by policies sold, but by our ability to stand by customers when they need us most,” Managing Director Olufemi Asenuga said.
According to him, the consistent settlement of genuine claims reflects the company’s strong operational structure, disciplined underwriting approach and enduring commitment to policyholders across Nigeria.
Insurers in Nigeria are preparing to shore up their financial capacity by recapitalizing before July ending, a requirement the National Insurance Commission set for the operators.
But Mutual Benefits said that meeting the deadline is not enough; sustainability that rests on trust, service delivery and the ability to honour obligations consistently also matters.
Many of the beneficiaries of the payout commended the insurance company for the speed of response.
