Allianz Nigeria pays out N1.8bn in claims

Allianz Nigeria Insurance Plc has paid claims totaling N1.8 billion in the first quarter, Q1, of 2020.

The figure represents a 130 percent increase from N800 million paid out the same period in 2019.

Allianz Nigeria which is a local operating entity of the global insurance company Allianz, also reported a Gross Written Premium (GWP) of N4.2 billion in the period under review, a 47 percent increase from N2.9 billion recorded during the same period in 2019.

The Company said it has so far recorded an investment income of N301 million despite the fall in investment and treasury bill rates.

Speaking on the development, Chief Operating Officer of the company, Owolabi Salami, said the success attained so far can be attributed to the tenacity and bravery of the people who work in the organization, adding that he was proud to see how fast his people adapted and rose to the challenge in these unprecedented times.

Salami said: “the Company will remain unwavering to deliver on its promise of paying claims despite the present economic downturn.”