Stanbic IBTC Insurance Pays over N8.9 billion Claims.
Giving a breakdown of the paid claims, the Ebere Nwoji Stanbic IBTC Insurance Limited, said it paid over N8.9 billion in death claims and annuity benefits in 2025.
Giving a breakdown of the paid claims, the insurance underwriter said N1.59 billion was paid to 1,162 customers on death claims, while N7.37 billion was paid to 4,824 retirees on annuity under the company’s annuity policy.
Stanbic IBTC said totally, it made 5,986 payments during the year, with the value paid rising by 68.3 per cent from N5.33 billion in 2024.
“The steady increase in both the value and volume of payments reflects the growing scale of the business and its ability to meet a rising number of policyholder obligations. It also highlights the importance of having the financial capacity and processes to support customers when their policies become payable,” the company stated. Commenting on the 2025 performance, Chief Executive Officer Stanbic IBTC Insurance, Akinjide Orimolade, said, “Behind every payout is a family, a retiree or a beneficiary we have been able to support at an important moment. Five years ago, we paid N358 million in claims and annuity benefits.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with THISDAY.