News

Universal Insurance pays N3bn claims in 2024

Published

2 weeks ago

April 14, 2025

Taiye Olayemi

Universal Insurance Plc has disbursed a total of N3 billion in claims to policyholders who suffered losses during the year 2024.

Dr Jeff Duru, Managing Director of the firm, confirmed this development in a statement issued in Lagos on Monday.

Duru noted that the payments were made between January and December 2024 across various insurance policies.

He said the volume of claims paid reflects the company’s unwavering commitment to meet customer expectations, despite challenges in the business environment.

According to him, the company continues to grow its retail segment with affordable, high-quality products tailored for low-income earners and skilled artisans.

The Managing Director also revealed that the firm is fully computerised, supporting service excellence and efficient claims settlement processes.

“Our claims management is top-notch, with a strong tech system enabling customers to report claims swiftly from anywhere, without visiting our office,” Duru added.

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Taiye Olayemi

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