AN underwriting firm, Royal Exchange Prudential Life, a subsidiary of Royal Exchange Plc, has paid N1.072 billion in life insurance claims to its policyholders between January and April this year.
Speaking on the significant payout, the Managing Director/Chief Executive Officer of the insurance firm, Polycarp Didam, underscored the company’s commitment to fulfilling its obligations and reinforced trust in Nigeria’s insurance industry. He said the timely settlement of claims was pivotal to enhancing customer satisfaction and loyalty.
Moreover, he added that N1.072 billion in the hands of beneficiaries stimulates economic activity by growing financial liquidity.
He said this aligned with the broader objectives of the Nigerian insurance industry to promote financial inclusion and support economic development.
Didam noted that Royal Exchange Prudential Life’s substantial claims settlement in April served as a testament to the company’s financial robustness and dedication to policyholders.
He said it also sets a benchmark for other insurers in the country, emphasising the importance of prompt and fair claims processing in building a resilient and trustworthy insurance market.
