Leadway Assurance won two awards at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, as the Insurance Company of the Year and Excellence in Claims Leadership & Digital Innovation. This is the second consecutive year the company would be emerging as the insurance company of the year.
These recognitions reaffirm Leadway Assurance’s position as a trusted insurer, underpinned by 55 years of legacy of integrity, innovation, and customer focus.
In 2024 alone, the company paid out N117 billion in claims. Each payout reflects restored livelihoods and renewed confidence for families and businesses across the country.
Commenting on the milestone, Gboyega Lesi, Managing Director of Leadway Assurance, said: “These double honours are a worthy recognition of the dedication of our team and our commitment to serving customers better every day. The recognition motivates us to continue building systems and teams that ensure no one faces uncertainty alone. Each innovation and every claim fulfilled reaffirms our promise to provide protection. For Leadway Assurance, these accolades celebrate our sense of purpose, reliability, and the lasting strength of an indigenous brand built to endure.
“Winning the Insurance Company of the Year for the second consecutive year and adding Excellence in Claims Leadership and Digital Innovation awards reflects our consistent devotion to excellence, consistency, and innovation in delivering value. We thank the leadership of BusinessDay for celebrating our relentless pursuit of efficiency, transparency, and empathy in every customer interaction; from simplifying claims processes to leveraging technology for faster, smarter access to insurance policies, as we continue to redefine trust and innovation in the insurance industry.”
Leadway Assurance’s transformation of claims management has set a new benchmark in the insurance industry. Leveraging cutting-edge technology, the company has digitised its claims processes, enabling customers to file, track, and finalise claims seamlessly. This digital shift has significantly reduced turnaround times and elevated customer experience nationwide.

By Sola Alabadan

The Commissioner for Insurance and Chief Executive of National Insurance Commission (NAICOM), Mr Olusegun Omosehin has advised West African insurers to develop parametric and microinsurance products tailored to the region’s climate realities.
Giving this charge at the 2025 WAICA Conference in Lagos, Omosehin also urged insurers to invest in data and technology to improve climate modelling, risk assessment, and product delivery.
The theme of this year’s conference, was “The West African Insurer in the Face of Climate Change”.
He added the the insurance operators have to expand inclusion, and ensure that insurance reaches farmers, market women, artisans, and micro-entrepreneurs, which is the backbone of our economies.
He stressed that insurers must prioritise capacity building, investing in the next generation of insurance professionals, as well as make sure that insurance evolve from a transactional service to a strategic enabler of development.
He also pointed out that “Climate change is rewriting the narrative of our region. It is testing the strength of our economies, the endurance of our communities, and the responsiveness of our institutions. It has become a macroeconomic threat, influencing fiscal policy, national budgets, and the stability of our financial systems.
“The evidence is sobering. In 2024, flooding affected over 7.5 million people across 16 West African countries. Nigeria alone accounted for 1.3 million displaced persons. In 2025, over 33,000 Nigerians were displaced, 3,800 homes destroyed, and 5,300 hectares of farmland submerged—threatening food security and economic stability.
These are not just statistics—they are stories of disruption, loss, and delayed development. Yet, within this crisis lies an opportunity: to redefine the role of insurance as a force for resilience and sustainable development”.
Like many African nations, he stated that Nigeria faces a significant climate finance gap, noting that “Traditional budgetary responses are no longer sufficient. We must strengthen financial instruments that allow us to anticipate shocks rather than merely react to them.
When integrated into national planning, insurance becomes one of the most effective tools for climate risk management and economic resilience”.
He further assured that NAICOM is committed to enabling policies that foster collaboration between operators, regulators, and development partners, adding that strengthening climate resilience across West Africa demands a unified approach—one that blends sound regulation, market innovation, and strategic partnerships.

By Sola Alabadan

AIICO Insurance Plc has counselled media professionals to embrace regular medical checkups in order to remain healthy at all times and to ensure early detection and management of potential health issues.

Dr. Ademola Osokoya, Assistant Manager at AIICO Multishield Limited, who gave this advice during a training organised by AIICO Insurance Plc for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) recently in Lagos, emphasised the importance of routine health assessments.

“Regular medical checks help individuals understand their health status, which is crucial for timely intervention and effective management of any health condition,” Dr. Osokoya stated.

He encouraged journalists and other professionals to leverage available health insurance options to access quality healthcare services.

Introducing the AIICO Multishield Health Insurance Plan, Dr. Osokoya described it as a comprehensive and accessible solution tailored to meet the diverse healthcare needs of individuals, families, small businesses, and corporate organisations.

He said the Multishield Plan offers flexible coverage tiers that include in-patient and out-patient services, specialist consultations, diagnostic tests, maternity care, and emergency treatment, all at affordable premiums.

He noted that a standout feature of the plan is its broad network of accredited healthcare providers across Nigeria, enabling enrollees to access top-quality medical facilities nationwide.

In line with efforts to expand healthcare access for Nigerians, he added that AIICO has extended the plan’s benefits to informal sector workers and undeserved members of the populace.

“By collaborating with cooperatives, trade unions, and grassroots organizations, the company is contributing to the national push for Universal Health Coverage and supporting more Nigerians in securing reliable healthcare.

“Technology plays a central role in the Multishield offering, with digital platforms enabling seamless enrollment, claims tracking, and policy management. This integration enhances customer experience by providing transparency, reducing administrative delays, and building trust.

The Multishield Plan is fully compliant with the standards set by the National Health Insurance Authority (NHIA), underscoring AIICO’s commitment to regulatory standards, service excellence, and integrity. Beyond medical coverage, the plan aims to deliver peace of mind by shielding individuals and families from the financial impact of unforeseen health emergencies.

With this initiative, AIICO Insurance Plc reinforces its dedication to improving healthcare accessibility and affordability for all Nigerians, while encouraging professionals—especially in the media—to take charge of their health through preventive care and insurance coverage.