The Industrial and General Insurance (IGI) Plc. says it has paid claims worth about 1.2 billion naira, between January and August of 2016, to its policy holders.
In a statement, the insurance firm noted that this brought the total claims it has paid since 2015, to three billion naira.
Insurance remains the flagship of the IGI Group, which has shareholders’ funds in excess of N31 billion, and assets base in excess of N45 billion.
The firm stated that from January to August 2016, claims paid on individual life insurance totalled 746.42 million naira, while 157.28 million naira was paid on group life.
It added that 273.59 million naira was paid on general business, consisting of 107.27 million naira for oil and gas, 41.02 million naira for engineering and 56.53 million naira on motor insurance.
The company disclosed that the payments were in line with her resolve to settle all outstanding claims and obligations due to customers, as quickly as possible.
The IGI Group which brands itself as the largest insurance company in Nigeria and the largest underwriter in West Africa, has the widest range of Life and Non-Life Insurance protection.
It also has subsidiaries and strategic investments in other diverse sectors, notably: Real Estate, Banking, Telecommunications, Mining, Construction, Waste Management and Engineering.