Noor Takaful distributes N427 million surplus and N22 billion in claims for 2025 financial year

Chairman Shuaibu Ahmed stated that this payout reflects the company’s commitment to the Takaful principle of shared benefits, noting that annual payouts have grown from N12 million in 2017. He highlighted the Takaful model's commercial sustainability, fairness, transparency, mutual responsibility, and shared prosperity, where participants contribute to a common risk fund and share in surpluses. Ahmed also announced that Noor Health, the company’s Health Maintenance Organisation, distributed surplus for the first time.

Since its inception, Noor Takaful has settled approximately N22 billion in claims, comprising N7.4 billion in general Takaful claims and N14.5 billion in family Takaful claims. Looking ahead, the company plans to enhance governance, digital capabilities, and claims processes to expand access to insurance products. Dr. Usman Jimada, Deputy Commissioner for Insurance Technical for the National Insurance Commission, commended Noor Takaful for promoting confidence in the Takaful model and its role in deepening financial inclusion.

Managing Director Rilwan Sunmonu attributed the consistent surplus distribution to prudent fund management, disciplined underwriting, and strategic investment. Major beneficiaries of the 2025 surplus distribution included Alternative Bank, Lotus