IEI settles N970m insurance claims as capital base exceeds N28bn

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International Energy Insurance Plc (IEI) has paid more than N970 million in insurance claims in 2026, as its Minimum Capital ...

International Energy Insurance Plc (IEI) has paid more than N970 million in insurance claims in 2026, as its Minimum Capital Requirement (MCR) rose above N28 billion, strengthening its financial capacity to meet policyholder obligations.

The insurer in a statement said the claims payments reflected its commitment to honouring insurance contracts and providing financial support to customers when insured risks occur.

The development comes as Nigeria’s insurance industry faces increasing pressure to demonstrate stronger financial capacity, improve claims settlement and build public confidence in insurance services.

IEI said its capital position provides a stronger foundation for meeting obligations, supporting business growth and serving its corporate, public-sector and individual customers.

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