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NEM Insurance Strengthens Policyholder Trust with N45.91bn Claims Payment

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NEM Insurance Plc has further reinforced confidence among its policyholders following the payment of N45.91 billion in claims during the 2025 financial year.

The figure, disclosed in the company’s audited results for the year ended December 31, 2025, highlights the insurer’s continued commitment to meeting obligations promptly and maintaining strong operational credibility within Nigeria’s insurance industry.

The 2025 claims payout represents a substantial rise from the N24.99 billion paid in the 2024 financial year, highlighting the Group’s growing commitment to meeting its obligations to policyholders and strengthening trust in its operations.

Figures obtained from the NGX showed the parent company paid N41.46bn in 2025 from N24.24bn in 2024.

Industry observers note that timely and efficient claims settlement remains a critical factor in driving insurance penetration in Nigeria.

With its strong capital base, expanding customer network, and increasing investment income, NEM Insurance Plc is well-positioned to deliver sustainable value to both shareholders and policyholders, while contributing to the growth of the insurance sector.

The company’s latest performance further underscores its standing among insurers with strong claims-paying capacity, a key indicator of financial stability and operational reliability in the industry.

GCR Ratings had upgraded NEM Insurance Plc’s national scale financial strength rating to AA+(NG) from AA(NG), with the outlook maintained as stable.

According to the rating agency, the upgrade reflects sustained strengthening in the company’s competitive position within the non-life insurance segment, supported by a sound financial profile characterised by robust risk-adjusted capitalisation, adequate liquidity, and strong earnings capacity.

The combination of increased claims payout and improved credit rating positions NEM Insurance Plc as a leading player in Nigeria’s insurance industry, capable of meeting rising customer expectations while sustaining long-term growth.

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Sierra Leonean President Bio, Elumelu rally West African private sector to turn regional potential into investment, jobs

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The President of Sierra Leone and immediate past Chair of the ECOWAS Authority of Heads of State and Government, Julius Maada Bio, and leading African investor and Chairman of Heirs Holdings, Tony Elumelu, have called on West Africa’s private sector to move decisively from the promise of regional integration to its delivery.

They both called for support to mobilise capital, build competitive industries, create jobs, and transform the region’s vast economic potential into shared prosperity.

Hosting President Bio in Lagos ahead of the inaugural West Africa Integration and Investment Summit (WAIIS), Mr Elumelu brought together leading private sector and financial institution leaders for the inaugural physical meeting of the WAIIS Private Sector Advisory Board.

The meeting focused on four strategic areas with the potential to reshape West Africa’s economic future: energy trade and industrialisation, strategic minerals, agribusiness, and digital transformation.

President Bio set out an ambitious vision for WAIIS to consolidate a regional market of more than 400 million people and mobilise businesses from within West Africa and across the world to deepen trade, investment and economic cooperation.

“We are partners in execution — let us transform ideas into partnerships, partnerships into investments, and investments into lasting prosperity for our continent,” Mr Bio told members of the Advisory Board.

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He added: “But potential is not prosperity. Our task is to convert these advantages into productive enterprises, competitive industries, regional value chains, jobs and wealth.”

Mr Elumelu welcomed President Bio’s initiative to place private capital and enterprise at the heart of the regional agenda, reaffirming his commitment to mobilising African and international investment alongside leading African financial institutions, including the Africa Finance Corporation, Afreximbank, United Bank for Africa (UBA), Ecobank, etc., to support the execution of priority projects.

The approach reflects Mr Elumelu’s philosophy of Africapitalism—the belief that the African private sector has a defining role to play in catalysing the continent’s economic transformation through long-term investment in critical sectors.

Mr Elumelu stressed that Africa’s businesses must increasingly look beyond national borders and combine capital, expertise and capabilities to build enterprises and industries capable of competing at scale, while creating jobs and expanding opportunity across the sub-region.

“This is consistent with our aspirations to create jobs for our young people,” Mr Elumelu said. “We have all it takes to be prosperous.”

But private sector ambition, he noted, must be matched by decisive government action.

“Governments must provide the policy certainty, regulatory efficiency and security required to give investors the confidence to commit capital for the long term.”

Lagos State Governor, Babajide Sanwo-Olu, underscored the importance of industrialisation and the free movement of goods and services in building a truly integrated West African market. He stressed that political leaders must provide the enabling environment, certainty and assurances required for businesses to invest, produce and trade across borders.

At the centre of the discussion was a shared conviction that West Africa has the scale, resources, talent and entrepreneurial capacity to become one of the world’s most dynamic economic regions.

With the Summit now less than two months away, Mr Bio called on members of the Advisory Board to move from advocacy to active mobilisation: engaging prospective investors directly, matching them with viable projects, and identifying the financing gaps, policy decisions and other interventions required to move transactions forward.

WAIIS will take place on 17–18 November 2026 at the Julius Maada Bio International Conference Centre in Lungi, Sierra Leone, bringing heads of state, investors and business leaders together to advance investment across energy, strategic minerals, agribusiness and digital transformation.

READ ALSO: How Nigeria’s Population Commission mismanaged N245 billion on undelivered products, other controversial contracts – Auditor-General

Notable names on the WAIIS Private Sector Advisory Board are Tony Elumelu — Chairman, Heirs Holdings; Aliko Dangote— Group President/Chief Executive, Dangote Group; Folorunso Alakija — Executive Vice Chairman, FA Limited; Samuel Dossou-Aworet — Founding Chairman, Petrolin Group; George Elombi — President & Chairman of the Board of Directors, Afreximbank; and Abdul Samad Rabiu, Chairman/CEO, BUA Group.

Others are Wale Tinubu — Group Chief Executive, Oando PLC; Samaila Zubairu — President & Chief Executive Officer, Africa Finance Corporation; Alain Ebobissé — Chief Executive Officer, Africa50; Jean-Claude Kassi Brou — Governor, Central Bank of West African States; Paulo Gomes — Founder and Chairman, Orango Investment Corporation; Benedict Okey Oramah — Chairman, Africa Trading Minerals (ATMIN); and Habib Yérim Sow — Group Chairman & CEO, Teyliom Group.


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NPF Pensions Rolls Out Support Programmes for Retired Police Officers

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NKECHI NAECHE-ESEZOBOR—Retirement should not mark the start of fresh hardship for police officers who devoted their working lives to safeguarding the public, yet questions about pension adequacy, gratuity payments and the general welfare of retirees continue to feature in conversations on police welfare.

With Police Pension Week underway, the Nigeria Police Force Pensions Board says it is working to strengthen its services and tackle some of the difficulties confronting both serving and retired officers.

The agency says that, in addition to routine pension payments, it runs a Retirement and Resettlement Support Programme designed to help retirees cope while their retirement benefits are being processed.

It also holds pre-retirement seminars that prepare officers for life after service, offering training in areas such as poultry farming and other small-scale ventures.

According to the agency, these efforts are intended to give retired personnel better financial footing and ease their transition from active duty to civilian life.

The post NPF Pensions Rolls Out Support Programmes for Retired Police Officers appeared first on Business Today NG.

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