Business
KBL Insurance Settles N5bn Claims in 16 Months, Secures Investor Backing
KBL Insurance Limited has reinforced its standing as a dependable and customer-focused underwriting institution with the payment of over N5 billion in claims across multiple insurance categories within the last sixteen months.
The Company disclosed that it paid claims totalingN3,662,293,189.41 during the 2025 financial year, while an additional N1,337,886,316.70 was settled between January and April 2026.
The cumulative payout reflects KBL’s strong financial footing, operational resilience, and unwavering commitment to meeting obligations with efficiency and professionalism.
The settlements, spanning diverse classes of insurance business, further demonstrate the Company’s responsiveness in providing timely financial relief to policyholders during periods of loss and uncertainty.
Speaking on the development, the Managing Director/Chief Executive Officer of KBL Insurance Limited, Lawal Mijinyawa, described prompt claims settlement as one of the most credible indicators of trust and institutional integrity within the insurance industry.
“At KBL, we understand that insurance extends beyond policies and documentation; it is fundamentally about honouring our promises when customers need us most. The true test of an insurance institution lies in its ability to settle genuine claims promptly, fairly, and efficiently,” he stated.
Mijinyawa noted that the Company’s claims record reflects not only financial stability, but also a culture anchored on professionalism, operational excellence, and superior service delivery.
“Our consistent claims settlement culture mirrors the confidence our customers place in us and our determination to exceed expectations. Beyond the statistics are businesses restored, families supported through adversity, and individuals empowered to move forward with renewed assurance,”he added.
The Managing Director further disclosed that KBL is recording a very significant progress with its recapitalisation programme as part of a broader strategic growth and transformation agenda.
According to him, the Company has successfully secured investor commitment towards the initiative, a milestone expected to strengthen its financial capacity, underwriting strength, and competitive position within Nigeria’s insurance landscape.
“As part of our long-term vision for sustainable growth and enhanced service delivery, KBL has secured investor participation towards its recapitalisation programme. This achievement further reinforces our financial stability and positions us to harness emerging opportunities within the industry,” he said.
He explained that the development reflects growing investor confidence in the Company’s governance structure, operational performance, and long-term strategic direction.
“The successful investment commitment is a strong endorsement of the KBL brand and its future prospects. It will enable us to deepen market penetration, strengthen service delivery, expand investment in innovation and technology, and continue creating superior value for customers and stakeholders,” Mijinyawa stated.
He further assured policyholders, brokers, business partners, and stakeholders of the Company’s continued commitment to sound corporate governance, financial discipline, transparency, and customer-oriented operations as it consolidates its market presence.
KBL also reiterated its resolve to leverage innovation, digital transformation, and operational efficiency to enhance customer experience and improve turnaround time across its operations.
Over the years, KBL Insurance Limited has built a strong reputation founded on professionalism, integrity, reliability, and seamless service delivery. The Company noted that its expanding claims portfolio and sustained strategic investments continue to reinforce stakeholder confidence and validate its position as a trusted player within Nigeria’s insurance industry.
As part of its long-term objectives, KBL stated that it would continue investing in human capital development, technology-driven solutions, operational efficiency, and product innovation aimed at delivering greater value to customers and stakeholders.
The Company reaffirmed its dedication to excellence, efficient claims administration, and the provision of quality insurance solutions designed to guarantee peace of mind and enduring financial protection.
KBL Insurance Limited is a trusted general insurance provider committed to delivering innovative and reliable risk management solutions to individuals and businesses across Nigeria. Guided by professionalism, integrity, innovation, and customer satisfaction, the Company continues to provide responsive insurance services tailored to the evolving needs of its customers while contributing meaningfully to the growth of Nigeria’s insurance industry.
The post KBL Insurance Settles N5bn Claims in 16 Months, Secures Investor Backing appeared first on Business Today NG.
An Aero Contractors flight travelling from Lagos to Abuja on Saturday morning returned to its departure airport after the crew reported a technical issue while the aircraft was airborne.
The aircraft, which departed Lagos at about 7:30 a.m., had travelled part of the route mid air before the flight crew decided to discontinue the journey and return to Lagos as a precautionary safety measure.
Passengers were safely evacuated after the aircraft landed, and no injuries were reported.
A passenger aboard the flight told PREMIUM TIMES that the cabin became unusually hot while the aircraft was in the air, causing anxiety among passengers.
According to the passenger, the crew informed those on board that the aircraft had developed a technical problem and would return to Lagos but did not disclose the exact nature of the fault.
“There was a lot of panic because people did not know exactly what had happened. We were only told there was a technical problem and that we had to return to Lagos,” the passenger said.
As of 10:10 a.m., the affected passengers had begun boarding another Aero Contractors aircraft to continue their journey to Abuja, according to one of the passengers who spoke with PREMIUM TIMES.
PREMIUM TIMES contacted Aero Contractors for comments on the incident, including the nature of the reported technical issue, the reason for the aircraft’s return to Lagos and the arrangements made for affected passengers.
However, the airline had yet to respond as of the time this report was filed.
Recent incidents
Saturday’s occurrence comes about two months after a Max Air flight from Abuja to Katsina made an emergency return to the Nnamdi Azikiwe International Airport shortly after take-off following a reported technical fault.
As previously reported by PREMIUM TIMES, passengers on the May 2026 flight recounted hearing loud banging sounds from the aircraft before it reportedly lost altitude briefly and struggled to stabilise, prompting the pilot to return to Abuja as a safety precaution. The aircraft landed safely, and no injuries were reported.
READ ALSO: Benin runway excursion not crash or emergency landing Enugu Air CEO
The Aero Contractors incident also comes amid increased public attention to airline operations following Thursday’s runway excursion involving an Enugu Air Embraer E170 at Benin Airport.
Although all 63 passengers and five crew members escaped unhurt, the occurrence disrupted flight operations after the runway was temporarily closed, forcing Air Peace and United Nigeria Airlines to suspend flights to and from Benin while aircraft recovery and safety assessments were carried out.
While the circumstances surrounding the Aero Contractors, Max Air and Enugu Air incidents differ, they have renewed attention on operational reliability and safety across Nigeria’s aviation sector.
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