Sovereign Trust Insurance Plc has reaffirmed its commitment to prompt claims settlement, saying it has paid more than N2.7 billion in claims across its various business lines as of June 30, 2026.
The insurer said the payouts demonstrate its ability to meet obligations to policyholders while reinforcing its reputation as a reliable player in Nigeria’s insurance industry.
According to the company, its consistent claims settlement reflects strong operational efficiency, disciplined underwriting practices and a healthy financial position, which it said has been recognised by GCR through its international credit rating.
Sovereign Trust Insurance noted that the performance comes shortly after the successful completion of its Rights Issue, which recorded strong participation from existing shareholders. The company said the outcome highlights investor confidence in its corporate governance, growth strategy and long-term prospects.
Managing Director and Chief Executive Officer, Dr. Lucas Durojaiye, described timely claims payment as one of the clearest measures of an insurer’s financial stability and credibility. He said the company remains focused on honouring genuine claims promptly while strengthening its financial foundation to support future growth.
The insurer added that the successful capital raising exercise has further enhanced its capacity to deliver value to policyholders and shareholders while sustaining confidence in its operations.
