Leadway Assurance Company Limited
Established in 1971, Leadway Assurance Company Limited is Nigeria’s Leading Insurance Company with an AA GCR rating and over $1.3 billion asset base. Leadway is also the industry’s foremost insurer with over $440 million paid in claims in the last 5 years, following a year-on-year increase in claims payment. Renowned for its technology-enabled processes, prompt claims payment, and a driving force to “insure the happiness” of every individual and business, Leadway Assurance is primed to disrupt the microinsurance space and further deepen insurance penetration in Nigeria and Africa.
Over the years, Leadway has recorded steady growth in its business operations. As of 31st December 2020, the company had a total asset base of over $1.2 billion with no loan stock and internally generates funds for capital projects. The Company holds a sizeable number of blue-chip stocks spread across banking, insurance, manufacturing, finance, etc. Its total investment portfolio on December 31, 2020, was over $1.1 billion.
To reposition and take advantage of opportunities in the changing environment, Leadway also has a policy of increasing its paid-up capital steadily and currently has a Shareholders Fund of $156 million with an average of $131 million deposit placement in Investment grade rated banks.
Leadway enjoys the patronage of clients spanning all the major industries including Construction & Engineering, Manufacturing, Oil and Gas, Shipping, Government Establishments, Ministries, and Parastatals with increasing patronage from retail clients from a variety of business backgrounds.
Getting our foot into new spaces and providing innovative and sustainable solutions, are our core strategies to penetrating the insurance market space. This overarching strategy enables us to provide a bespoke and dynamic product offering across life and general business (property and casualty), life insurance, retirement, and annuity solutions, as well as other financial services. With an array of products, coupled with expert financial advisers and professional customer services, our offerings are designed to support and provide the needed financial backbone for individuals and businesses to navigate everyday life.
Currently, our Auto insurance policy is disrupting the microinsurance space with its cutting-edge technology, speedy and easy processes which enables the customer to purchase the product in less than 120 seconds and fulfill the statutory requirement of every road user according to the laws of Nigeria.
Overall, our mission is to become the number one non-banking financial service provider in Africa.