Insurance companies in Nigeria paid a total of N346.87 billion in claims during the first half of 2026, a marginal 0.1 per cent increase from N346.59 billion in the same period of 2025. This rise occurred despite a 1.8 per cent year-on-year decline in Gross Premium Written, which fell to N579.25 billion from N590.2 billion. The data was derived from an analysis of the H1 2026 financial statements of 18 insurance companies listed on the Nigerian Exchange Limited. The trend has raised concerns over pressure on underwriting margins in the industry.
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