KBL Insurance Limited has paid over N5bn in claims across multiple insurance categories within the last 16 months, reinforcing its standing as a dependable and customer-focused underwriting institution.
The firm disclosed in a statement on Wednesday that it paid claims totalling N3,662,293,189.41 during the 2025 financial year, while an additional N1,337,886,316.70 was settled between January and April 2026. The cumulative payout reflects KBL’s strong financial footing, operational resilience, and unwavering commitment to meeting obligations with efficiency and professionalism.
The settlements, spanning diverse classes of insurance business, further demonstrate the company’s responsiveness in providing timely financial relief to policyholders during periods of loss and uncertainty.
Speaking on the development, the Managing Director and Chief Executive Officer of KBL Insurance Limited, Lawal Mijinyawa, described prompt claims settlement as one of the most credible indicators of trust and institutional integrity within the insurance industry.
“At KBL, we understand that insurance extends beyond policies and documentation; it is fundamentally about honouring our promises when customers need us most. The true test of an insurance institution lies in its ability to settle genuine claims promptly, fairly, and efficiently,” he stated.
Mijinyawa noted that the company’s claims record reflects not only financial stability but also a culture anchored on professionalism, operational excellence, and superior service delivery.
“Our consistent claims settlement culture mirrors the confidence our customers place in us and our determination to exceed expectations. Beyond the statistics are businesses restored, families supported through adversity, and individuals empowered to move forward with renewed assurance,” he added.
The managing director further disclosed that KBL is recording significant progress with its recapitalisation programme as part of a broader strategic growth and transformation agenda.
According to him, the company has successfully secured investor commitment towards the initiative, a milestone expected to strengthen its financial capacity, underwriting strength, and competitive position within Nigeria’s insurance landscape.
“As part of our long-term vision for sustainable growth and enhanced service delivery, KBL has secured investor participation towards its recapitalisation programme. This achievement further reinforces our financial stability and positions us to harness emerging opportunities within the industry,” he said.
He explained that the development reflects growing investor confidence in the company’s governance structure, operational performance, and long-term strategic direction.
“The successful investment commitment is a strong endorsement of the KBL brand and its future prospects. It will enable us to deepen market penetration, strengthen service delivery, expand investment in innovation and technology, and continue creating superior value for customers and stakeholders,” Mijinyawa stated.
He further assured policyholders, brokers, business partners, and stakeholders of the company’s continued commitment to sound corporate governance, financial discipline, transparency, and customer-orientated operations as it consolidates its market presence.
KBL also reiterated its resolve to leverage innovation, digital transformation, and operational efficiency to enhance customer experience and improve turnaround time across its operations.
The company noted that its expanding claims portfolio and sustained strategic investments continue to reinforce stakeholder confidence and validate its position as a trusted player within Nigeria’s insurance industry.
As part of its long-term objectives, KBL stated that it would continue investing in human capital development, technology-driven solutions, operational efficiency, and product innovation aimed at delivering greater value to customers and stakeholders.
The firm reaffirmed its dedication to excellence, efficient claims administration, and the provision of quality insurance solutions designed to guarantee peace of mind and enduring financial protection.
