FBN Insurance Pays N16.1bn claims in 2021


Life insurance underwriter, FBN Insurance has announced that it paid N16.1 billion claims to its customers in 2021.

FBNInsurance Managing Director Val Ojumah stated this while addressing the media in the company’s claim profile.

Ojumah said FBNInsurance commitment to satisfying her clients was non-negotiable. 

“At FBNInsurance Limited, we are in the business of paying genuine claims that are due. Our strategy remains providing financial security for our clients and as always, we will not rest on our oars to exceed our customers’ and stakeholders’ expectations, because to us, the Customer is King,” Ojumah stated

He noted that customer satisfaction was the fulcrum of insurance business, and that inevitably builds customer loyalty.

He said having known this; FBNInsurance would not fail to ensure this. 

“We believe once FBNInsurance is able to pay customers’ claims as they arise, numerous customers and the general public will have faith to take up more life policies because they are convinced that should a claim/loss arise, FBNInsurance will be able to meet its financial obligations to them”

He noted that FBNInsurance paid N11.5bn claims in 2020; adding that this was in spite of the challenging operating environment in the country, especially as the world continues to battle with the economic effect of the Covid 19 pandemic.