Universal Insurance pays N3bn claims

Universal Insurance Plc has paid out a total of N3 billion as claims to policyholders that suffered losses during the 2024 financial year.

Jeff Duru, managing director/CEO, Universal Insurance Plc said the amount of claims paid is a reflection of the company’s commitment to meet customers’ expectations, despite challenges in the business environment.

He said the company has been driving its growth in the retail space with pocket-friendly top-on-the-line products, designed to include and satisfy low-income earners as well as artisans in various fields of endeavours.

He added that the company is fully computerised to drive excellence in service delivery, prompt claim settlements, and customer-centricity.

“Our claims management process is topnotch with strong technology framework that ensures our customers are able to report their claims speedily from anywhere they are without having to come to our office.”

Modestus Anaesoronye

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.