Linkage Assurance settles N2.450bn claims from January to August 2021

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By Favour Nnabugwu

 

 

Linkage Assurance Plc paid N2.450 billion claims in the first eight months of 2021 to its numerous customers that suffered losses during the period under review.

According to the figures made available by the company, between January 2021 and August 2021, fire claims accounted for the highest share with N869 million or 35.5 per cent of the total N2.5 billion claims

Other payouts included N369 million on oil and gas risks, while another N247 million was paid on engineering risks. For motor claims, the company paid N493 million for the same period.

Further breakdown of the claims showed that general accident took N222 million; aviation got N135 million; marine had N67 million, while bond gulped N49 million.

Speaking on this, the Managing Director/CEO, Linkage Assurance Plc, Mr Daniel Braie, said the amount of claims paid in the period under review was a reflection of the company’s commitment to meet customer’s 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 said.

Mr Braie further stated that the underwriter has built the capacity to meet her obligation, 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 a 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,” the insurance expert stated.

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