Insurance Firm Pays N8.9bn In Claims, Annuity Benefits In 2025

Stanbic IBTC Insurance Limited paid N8.9 billion in death claims and annuity benefits in 2025, extending five years of growth in the value and volume of payments made to policyholders and beneficiaries.
Of this amount, N1.59 billion covered 1,162 death claims, while N7.37 billion went towards 4,824 annuity payments to retirees under the company’s annuity policy. In total, the company made 5,986 payments during the year, with the value paid rising by 68.3 per cent from N5.33 billion in 2024.
The steady increase in both the value and volume of payments reflects the growing scale of the business and its ability to meet a rising number of policyholder obligations.
Speaking on the 2025 p...