• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Wednesday, July 9
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»Insurance»Leadway Assurance Pays N23bn In Claims For 2016 Financial Year
Insurance

Leadway Assurance Pays N23bn In Claims For 2016 Financial Year

By orientalnewsngJune 14, 2017No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

… Appoints New Directors

Yemisi Izuora

Leadway Assurance says it’s assets grew from N137.3billion 2015 to N166 billion in 2016 while Gross Premium Income also rose by 13 per cent from N46.6 billion in 2015 to N52.7 billion in 2016, an increase largely attributable to annuity business.

The company at its 45th Annual General Meeting in Lagos also reaffirmed its commitment to its policyholders by paying claims in excess of N23billion in 2016, the largest payout in the market.

This is further evidence of the promise that the company has kept to its customers over the years, maintaining its position as the highest claims’ paying company for over five years. Despite the depressed economic environment, investment income grew from N7.4 billion in 2015 to N10.5 billion in 2016. However, with increased cost of doing business resulting from inflationary pressures within the economy, company performance after tax increased marginally from N6.3 billion in 2015 to N6.6 billion in 2016, due largely to gains recorded in foreign currency translation.

The company also announced the appointment of three non-executive directors to its Board following the retirement of three erstwhile directors in compliance with the 2009 NAICOM Code of Good Corporate Governance. The new appointees include Gen. Martin Luther Agwai, who now holds the position of Chairman, Mr. Oluseyi Bickersteth and Mr. Odein Ajumogobia who are also Non-Executive Directors.

Gen. Martin Luther Agwai is a Commander of the order of the Federal Republic (CFR) and was a former Chief of Defence Staff of the Nigerian Armed Forces.  He is pro-Chancellor of a Nigerian University and the Chairman of the Subsidy Reinvestment Programme (SURE-P). He is chairman and a member of several local and international boards. Mr. Oluseyi Bickersteth was National Senior Partner at KPMG, Nigeria and head of the oversight committee for KPMG Africa. He currently sits as Chairman KPMG, Africa and is a director of the Nigerian Economic Summit Group and well as the South African Chamber of Commerce. He is a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria. Mr. Odein Ajumogobia is a Senior Advocate of Nigeria (SAN), a Fellow, Chartered Institute of Arbitrators FCI, Arb (London) and a Former member, ICC, International Court of Arbitration in Paris. He is a leading environment and pollution litigator and at various times held the positions of Attorney-General and Commissioner for Justice, Rivers state, Minister of State for Petroleum Resources and Minister of Foreign Affairs.

Commenting on the performance, the newly appointed Chairman, Gen. Martin Luther Agwai, expressed his optimism and confidence about the company’s successes and aspirations saying, “We are consistently inspired by the doggedness, unflinching support and patronage of our revered customers, brokers, agents and other stakeholders. We thank you for your continued loyalty and pledge our improved services to your contentment.”

On his part, the Managing Director of Leadway Assurance Company Limited, Mr. Oye Hassan-Odukale stated; “The current realities of our operating environment appears dire and continues to test us on all fronts. However, we continue to find ways to deepen penetration of insurance by educating the public and encouraging them to Think Leadway once they have decided to buy insurance.”

Share this:

  • Share
  • Click to email a link to a friend (Opens in new window) Email
  • Tweet
  • Click to share on Reddit (Opens in new window) Reddit
featured Leadway Assurance Pays N23bn In Claims For 2016 Financial Year
orientalnewsng

Related Posts

CIIN Rewards Winners During Insurance Week Celebration 

July 7, 2025

Faces At The Ongoing Insurance Week Grand Finale/Awards

July 4, 2025

NAIPE 2025 AGM Receives Universal Insurance, NHIA, PTAD Backing

July 3, 2025

Leave A Reply Cancel Reply

2025 OrientalNews Conference

0
Years
:
0
Months
:
0
Days
:
0
Hrs
:
0
Mins
:
0
Secs
The latest
  • Fidelity Bank Attends To Internally Displaced Persons Needs In Benue
  • Stanbic IBTC Holdings Meets Achieves 21.9% Oversubscription In Rights Issue
  • Integrity Testing For Public Officers Key To Curb Corruption- EFCC
  •  N654m Worth Of Foreign Currency Intercepted At Kano Airport By Customs 
  • Access Bank UK Charity Polo Day 2025 To Drive Global Support For Inclusive Education
  • Nigerian Considers Cost-Reflective Tariff Structure To Address Power Sector Liquidity 
  • Dangote Slashes Petrol Price Again, Set To Refine Only Nigerian Crude 
  • Exxon May Report Major Financial $1.5Bn Drop As Oil And Gas Prices Falters 
  • Saudi Arabia Report Crude Export Rise By 412,000 Barrels A Day In April
  • Nigeria To Record Additional 2,500 Barrels Per Day Oil Production From Dawes Island Field
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2025 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.