Insurance companies paid over N483.56 million motor accident claims to Dangote Group in 2017, it was reliably gathered.
Data obtained from the Nigerian Insurers Association (NIA) revealed that the amount covers claims for accident and third party losses. According to the NIA, Cornerstone Insurance Plc. made the largest single claims payment of N20.15 million to Dangote Cement Plc. – Ibese plant for accident and third party on April 28, 2017, and other claims which amounted to over N391.21 million in the year.
The NIA stated that 41 insurance companies posted a gross premium income of N39.21 billion and paid N17.65 billion claims on motor insurance business in 2017.
NEM Insurance Plc. is said to be the leader in the motor business as it posted N4.46 billion premium income and paid N1.97 billion claims in the year.