Mutual Benefits Pays N5.94bn in January Claims, Reinforcing Trust and Financial Strength

Mutual Benefits Insurance Plc has made a remarkable start to 2026, paying a total of N5.94bn in claims to its policyholders in January alone. The payout underscores the company’s financial strength and unwavering commitment to prompt claims settlement, reinforcing its reputation as a trusted insurer in Nigeria.

A detailed breakdown revealed that N3.43bn was paid under the General (Non-Life) Insurance portfolio, while N2.51bn was disbursed across its Life Insurance business, including Group Life and Retail Life policies. This demonstrates the company’s ability to meet diverse policyholder needs efficiently.

Commenting on the milestone, Managing Director Olufemi Asenuga emphasized that claims settlement is the ultimate test of an insurer’s credibility. “Insurance is built on trust. Our ability to settle over N5.94bn in claims in one month demonstrates not only our financial strength but also our deep commitment to our policyholders. At Mutual Benefits, we do not just sell policies. We stand by our promises,” he said.

With over three decades in the industry, Mutual Benefits has consistently maintained robust underwriting standards, prudent risk management, and an efficient claims administration framework. The January payout reflects this track record, reinforcing customer confidence and aligning with the company’s long-standing record of prompt and substantial claims settlement.

As the company kicks off 2026 on a strong footing, Mutual Benefits reiterates its focus on innovation, service excellence, and value delivery to policyholders. Fully compliant with National Insurance Commission (NAICOM) regulations, the insurer continues to deepen trust across both retail and corporate segments, solidifying its position as a reliable and professional risk protection provider.

source: punch