Linkage Assurance Plc paid out N2.45bn claims between January and August to its customers that suffered losses.
The underwriting firm said this in a statement obtained on Friday, adding that fire claims accounted for N869m of the total claims.
The Managing Director/Chief Executive Officer, Linkage Assurance Plc, Daniel Braie, said the amount of claims paid in the period under review was a reflection of the company’s commitment to meet customers’ expectations despite challenges in the business environment.
“We have met the promise to meet our claims obligations because that is the reason we are in business, to ensure that our esteemed customers who suffer losses are enabled to return to their business without delays,” he stated.
Braie said Linkage paid out N369m on oil and gas risks; N247m on engineering risks; while motor claims accounted for N493m during the period under review.
Linkage Assurance Pays N2.45bn Claims In Eight Months
Further breakdown of the claims showed that general accident amounted to N222m; aviation, N135m; marine, N67m; and bond, N49m.
Braie stated that Linkage Assurance had built capacity to meet its obligations, provide cover in high risks areas of oil and gas, aviation, engineering among others, with strong reinsurance backing to respond to risks maturity at any given time.
“We have put in place claims management processes with strong technology framework that ensures our customers are able to report their claims speedily from anywhere they are without having to come to our office,” he said.
He said this was supported by online real-time customer service unit that was on 24-hours to respond to inquiries and complaints of customers from any location across Nigeria.
The statement added that the unaudited financial report of Linkage Assurance Plc submitted to the Nigerian Exchange Group for the period ended 30th June 2021 showed a total asset of N35.71bn from N33.877bn in December 2020.