Settle claims promptly, ex-AfDB president tells insurers

Punch Nigeria · Solomon Odeniyi · 2026-11-06 13:31 UTC

Former President of the African Development Bank Group, Dr Akinwumi Adesina, has urged insurance companies in Nigeria to prioritise prompt claims settlement, transparency and accountability to rebuild public confidence in the industry.

Former President of the African Development Bank Group, Dr Akinwumi Adesina, has urged insurance companies in Nigeria to prioritise prompt claims settlement, transparency and accountability to rebuild public confidence in the industry.

Adesina said insurance firms must demonstrate their value by honouring valid claims rather than focusing mainly on collecting premiums.

According to a statement issued by his media office on Friday, Adesina made the call on Thursday while delivering the keynote address at the Nigeria Insurance Directors Conference organised by the Chartered Insurance Institute of Nigeria in collaboration with the National Insurance Commission in Lagos.

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