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The total claims paid by sixteen insurance companies in the country rose by 36.48 per cent in the first half of this year from N49.18bn in the same period of 2020.
The PUNCH had reported in July that the Commissioner for Insurance, Mr Sunday Thomas, said the National Insurance Commission was ensuring that defaulting insurance companies paid all their outstanding claims. The gross benefits and claims paid by AIICO Insurance Plc in the first half of 2021 rose to N22.17bn from the N15.77bn paid in the same period a year earlier, while AXA Mansard Insurance Plc paid N11.16bn in claims as against N9.65bn in H1 2020.
LASACO Assurance Plc said it paid N4.02bn claims in the period under review, compared to N2.05bn in H1 2020, while Prestige Assurance Plc paid claims worth N3.18bn as against N1.31bn in H1 2020.
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