Leadway Assurance Company Limited has announced a significant leap in its financial performance, recording ₦173.2 billion in insurance revenue for the 2024 financial year. This marks a 51 percent increase from the ₦114.4 billion posted in 2023, reinforcing the company’s robust position in Nigeria’s insurance industry.
The impressive growth, according to the company’s management, reflects Leadway’s strategic expansion across business lines, increased policy uptake, and strengthened distribution channels.
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It also signals renewed investor and customer confidence in the insurer’s product innovation, claims responsiveness, and digital service delivery.
Beyond revenue growth, Leadway continues to maintain its leadership in claims settlement, a key trust driver in the sector.
While full claims figures for the reporting year are yet to be disclosed, the company is expected to maintain its streak of high claims payout, a consistent feature in its operational performance over the last decade.
Speaking on the development, Managing Director and CEO, Gboyega Lesi, attributed the results to a combination of data-driven strategy, customer engagement, and disciplined execution.
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He reaffirmed the company’s long-term vision to drive insurance penetration and financial inclusion, particularly across underserved populations.
As Nigeria’s insurance landscape evolves amidst economic pressures and shifting consumer expectations, Leadway Assurance’s performance sets a strong benchmark for resilience and scale.
With this trajectory, the company is well-positioned to consolidate its market share while playing a pivotal role in shaping the future of the industry.
