Noor Takaful Insurance Limited, Nigeria’s pioneer composite Takaful insurance firm, has called for stronger collaboration among brokers and partners to expand access to ethical and inclusive insurance solutions across the country.
The company made the appeal during its Partnership and Recognition Event, held on Wednesday at the Radisson Blu Hotel, Ikeja, Lagos.
Speaking at the event themed “Driving Growth Through Partnership,” Vice Chairman Aminu Tukur said Noor Takaful’s achievements were built on shared values of trust, collaboration, and mutual prosperity.
“Through your dedication and support, Noor Takaful has continued to expand its reach, deepen its impact, and strengthen participants’ confidence nationwide,” Tukur said. “You, our brokers and partners, are not just intermediaries—you are the bridge between our vision and the people we serve.”
N4.3 Billion Contribution Recorded, Eyes N30 Billion by 2026
In his address, Managing Director, Rilwan Sunmonu, disclosed that the company had sustained profitable growth in the past year despite regulatory and market challenges.
He attributed the firm’s resilience to its partnership with over 200 brokers, which contributed to a gross written contribution (GWC) of ₦4.3 billion in 2024.
“We have set an ambitious target to grow our GWC to ₦30 billion by 2026,” Sunmonu said. “This will be achieved through product innovation, market expansion, and a strong stakeholder engagement strategy.”
He reaffirmed Noor Takaful’s commitment to promoting ethical insurance principles, which are rooted in transparency, fairness, and shared responsibility.
Takaful Positioned for Mainstream Growth
Chief Business Development Officer, Ismaeel Ayanlere, described Nigeria’s Takaful market as being at a “turning point,” shifting from a niche offering to a mainstream, inclusion-driven growth model.
He projected that insurance penetration — currently around 0.3 percent — could rise to 1.5 percent by 2030 with support from digital distribution, growing awareness of ethical finance, and ongoing regulatory reforms.
“Takaful represents the future of inclusive finance,” Ayanlere said. “With the right policies and collaboration, we can drive insurance growth and financial inclusion across all segments of society.”
He also urged swift implementation of the Nigerian Insurance Industry Reform Act (NIIRA), noting that it would enhance participants’ confidence, strengthen capitalisation, and accelerate market penetration.
Ethical Healthcare Expansion Through Noor Health
In her remarks, Abiola Thompson, Chief Operating Officer of Noor Health, said the company — Nigeria’s first Sharia-compliant Health Maintenance Organisation (HMO) — was created to make ethical, affordable, and wellness-focused healthcare available to Nigerians.
“Brokers remain critical to our mission of expanding access to ethical healthcare,” Thompson said. “Our partnership model ensures that wellness and integrity remain at the heart of our offerings.”
The event brought together leading brokers, partners, and stakeholders from across the insurance sector, reaffirming Noor Takaful’s vision to deepen financial inclusion through ethical and value-based insurance solutions.
