Sovereign Trust Settles N2.7b Claims, Assures On Prompt Payment

Sovereign Trust Insurance Plc is committed to delivering on its promise to policyholders through the prompt settlement of genuine claims, and maintaining its reputation as a dependable insurer in the nation’s insurance industry, the company’s Managing Director, Lucas Durojaiye, said.
He informed that as at June 30, 2026, the company had paid claims worth over N2.7 billion across its various lines of business, underscoring its capacity to stand by customers when the need arises.
The sustained level of claims settlement reflects the company’s strong operational discipline, sound underwriting practices and healthy financial position affirmed by the GCR international rating agency.
This commitment comes on the heels of the successful conclusion of the Company’s Rights Issue, which attracted an impressive level of participation from existing shareholders. The strong response further demonstrates the confidence of investors in the Company’s strategic direction, corporate governance and long-term growth prospects.
Durojaiye maintained that prompt claims payment remains one of the strongest indicators of an insurer’s financial strength and reliability.
“Our promise to policyholders goes beyond selling insurance policies. We remain committed to honoring our obligations promptly and efficiently while continuing to build a stronger and more resilient organisation for all our stakeholders,” he stated.
The successful Rights Issue has further strengthened the company’s capital base, positioning Sovereign Trust Insurance for enhanced business expansion, increased underwriting capacity and improved value creation for shareholders, customers and other stakeholders.
With a stronger financial foundation and a clear growth strategy, Sovereign Trust Insurance remains focused on deepening customer trust, driving innovation and reinforcing its position as one of Nigeria’s leading non-life insurance companies.