Business
Life Arm Leads as emPLE Pays ₦7bn in Claims Across Key Sectors
BY NKECHI NAECHE-ESEZOBOR—emPLE Nigeria said it paid over ₦7 billion in claims to policyholders in 2025, underscoring its commitment to meeting obligations and supporting customers during times of need.
The company disclosed this in a statement made available to BusinessTodayNG.
A breakdown of the claims shows that the life business paid over ₦4.1 billion, while the general insurance arm disbursed more than ₦3.6 billion across key sectors, including energy, engineering, motor, marine cargo, and marine hull.
Commenting on the development, Olalekan Oyinlade, Chief Executive Officer of emPLE General Insurance Limited, said insurance remains a “sacred obligation” to provide support in times of adversity.
“Insurance, at its core, is a promise, a sacred obligation to provide support in times of adversity, and in 2025, we honoured that promise,” he said.
He added that amid ongoing industry reforms, the company remains focused on strengthening underwriting discipline, improving claims efficiency, and building a more resilient business capable of delivering consistent value to customers and stakeholders.
Also speaking, Jolaolu Fakoya, Managing Director of emPLE Life Assurance Limited, said life insurance plays a critical role in providing financial reassurance to families during periods of loss.
“In Life Insurance, our role in providing reassurance in moments of uncertainty is close to our heart,” he said.
He cited examples of claims paid, including ₦112 million to the family of a 47-year-old breadwinner, ₦21 million to a bereaved mother, and ₦205 million to another family following the loss of a 55-year-old loved one.
Fakoya added that the company is focused on deepening insurance penetration by simplifying access, improving customer experience, and strengthening public trust in the value of insurance.
“This is to ensure more Nigerians understand the value of insurance and benefit from it when it matters most,” he said.
The company said the milestone reflects its continued growth and its commitment to transforming insurance from a transactional product into a reliable support system that enables individuals and businesses to face the future with confidence.
About emPLE
emPLE is a Nigerian insurance brand operating through emPLE General Insurance Limited and emPLE Life Assurance Limited, focused on delivering accessible protection solutions grounded in governance discipline, operational excellence, and sustainability principles.
The post Life Arm Leads as emPLE Pays ₦7bn in Claims Across Key Sectors appeared first on Business Today NG.
Nigeria’s crude oil and condensate production rose by 0.4 per cent to 1,677,777 barrels per day (bpd) in August 2026.
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its crude oil and condensate statistics report released on Sunday.
The commission said crude oil production, excluding condensate, averaged 1,500,190 bpd during the month under review.
It added that Nigeria met its Organisation of Petroleum Exporting Countries (OPEC) crude oil quota for the fourth consecutive month.
According to the report, combined crude oil and condensate production fluctuated between a daily low of 1.64 million barrels and a high of 1.71 million barrels.
The report showed that Bonny Terminal recorded the highest average production at 320.04 thousand barrels per day (kbpd).
Forcados Terminal followed closely, recording an average daily production of 317.40 kbpd during the month.
“Qua Iboe Terminal recorded an average production of 171.72kbpd of crude oil and condensates,” the report said.
It added that Escravos Oil Terminal recorded a daily average production of 131.71 kbpd during the period.
Bonga ranked fifth among the highest-producing terminals, with an average output of 92.50 kbpd of crude oil.
Factors behind the increase in production
The NUPRC attributed the modest increase in August production largely to the resolution of operational challenges involving the Single Buoy Mooring (SBM) at the Erha field.
The commission said the challenges had adversely affected production performance in the preceding month.
It explained that restoring normal evacuation and production operations at the Erha field contributed positively to overall production volumes in August.
“Production activities across most other producing assets remained relatively stable,” the report said.
It said operators continued implementing measures to optimise production efficiency, maintain asset integrity and minimise operational disruptions.
The commission added that routine production and crude evacuation operations were generally sustained across the industry during the period.
“These supported the observed improvement in output,” it said.
The report described the August increase as modest but said it reflected continuing industry efforts to address operational bottlenecks.
It said stakeholders were also working to restore affected production capacity and support sustained growth in the coming months.
The commission said operators remained focused on improving asset reliability and operational resilience across Nigeria’s upstream petroleum sector.
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It added that intervention programmes were being advanced to strengthen production performance and reduce disruptions.
The August performance, according to the NUPRC, underscored the importance of resolving operational constraints promptly.
It also highlighted the need for effective asset management and continued collaboration among industry stakeholders.
Such measures, the commission said, remained critical to safeguarding and improving Nigeria’s crude oil production capacity.
(NAN)
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Business
Cornerstone Insurance Unveils “Cornerstone 3.0” Transformation Agenda at 2026 Brokers’ Business Lunch
Cornerstone Insurance PLC has unveiled key elements of its transformation agenda, “Cornerstone 3.0,” aimed at strengthening its operations, enhancing customer experience and positioning the company for sustainable growth.
The agenda was a major focus at the company’s 2026 Brokers’ Business Lunch, recently held at the Metropolitan Club, Lagos, with brokers, stakeholders and members of Cornerstone’s management team.
The gathering provided an opportunity to share the company’s broader strategic direction with the market, backed by the support of its majority shareholder, Chapel Hill Denham. The partnership with Chapel Hill Denham forms part of Cornerstone’s broader growth and transformation journey, as the company strengthens its business, enhances its market position and prepares for its next phase of growth.
The event was led by Stephen Alangbo, Managing Director/CEO, Cornerstone Insurance PLC; Kola Adekoya, Acting Managing Director, FIN Insurance Company LTD and Abdur Rasheed Babalola, Managing Director, Hilal Takaful Insurance.
Speaking at the event, Mr. Alangbo, outlined Cornerstone’s vision for its next phase of growth, highlighting the significant changes taking place across the business. At the heart of this journey is Cornerstone 3.0, a transformation programme focused on building a more agile, technology-driven and customer-centric insurance business. A key component of the transformation is the planned restructuring into Cornerstone Life and Cornerstone General, alongside the continued development of Hilal Takaful Insurance to expand the company’s Takaful offerings, subject to final approval by NAICOM.
Technology also remains a key component of the agenda, with the evolution of CiCi, Cornerstone’s AI-powered customer service platform, including its voicebot capability, aimed at making services such as enquiries, complaints, claims, policy renewals and insurance purchases more accessible.
Mr. Alangbo further reaffirmed their commitment to fast and efficient claims processing, recognising responsive claims service as central to delivering value and building customer trust.
The Brokers’ Lunch also provided an opportunity for Cornerstone to engage directly with the brokers, receive feedback and identify areas for improved collaboration. Stephen Alangbo acknowledged brokers as key drivers of the business and encouraged them to continue to consider Cornerstone as a first-choice partner for their clients’ corporate, individual and Takaful insurance needs.
The engagement reflects Cornerstone’s commitment to working closely with its broker network, as it advances its transformation agenda and builds a more agile, innovative and customer-focused insurance business.
The post Cornerstone Insurance Unveils “Cornerstone 3.0” Transformation Agenda at 2026 Brokers’ Business Lunch appeared first on Business Today NG.
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