Crown Takaful approves N100.9m surplus payout to policyholders

Crown Takaful Insurance Limited has approved the distribution of N100.9 million in surplus to its participants, marking what the company described as a major milestone for Nigeria’s ethical insurance industry.
The payout, approved by the company’s board following regulatory clearance from the National Insurance Commission (NAICOM), comes within the firm’s first year of operations and reflects the core Takaful principle of returning excess funds to participants after claims, re-Takaful expenses and reserves have been settled.
Under the Takaful insurance model, participants contribute to a common pool to cover risks, while any surplus remaining at the end of the financial period is shar...