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Insurance Claims Payment Hits N174.8bn
The volume of gross claims paid out to insurance policyholders has recovered, hitting N174.8 billion in the first half of this year, H1’22. This is up by 7.7 percent against the N162.3 billion recorded in the preceding half, H2’21. This major indicator of soundness in the insurance sector had recorded a 6.9 percent decline from…
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Insurers Pay 47.3% Of Premium Income In Q2’22
The insurance companies paid 47.3 percent of all premiums generated as claims in the second quarter of 2022, Q2’22. This is following improved underwriting capacity of the insurance companies. This shows a moderate improvement from Q1’22 where 48.7 percent of all premiums generated were paid as claims. Accordingly, gross premium income increased by 64.9 percent…