Noor Takaful shares N116m surplus to policyholders

Noor Takaful Insurance coverage Restricted has distributed N116.30m as surplus to an eligible group of policyholders who didn’t make claims on their insurance coverage through the 2022 monetary 12 months.

The excess distribution was made through the second version of the African Takaful and Non-Curiosity Finance convention in Lagos.

A complete of 1,211 contributors together with people, monetary establishments, and personal and public organisations acquired the excess funds. They embody Sterling Bank Plc, Lotus Financial institution, WAZOBIA FM, Information FM and Cool FM, The Different Financial institution, Berger Paint, and The Crescent Faculties.

Delivering his remarks on the occasion, the Managing Director of Noor Takaful Insurance coverage Restricted, Rilwan Sunmonu, disclosed that for the reason that firm’s inception of surplus distribution in 2018, greater than 5,000 contributors have acquired surplus, totalling greater than N400m.

In response to Sunmonu, this milestone is a testomony to the unwavering dedication of the corporate to the rules of Sharia and its contributors. He expressed confidence in rising the variety of contributors in order that it will proceed to positively affect lives.

Highlighting the choice to current surplus to contributors by way of a digital switch simulation—marking a major shift from the standard use of dummy cheques—he acknowledged that the brand new strategy is an indication of its dedication to innovation and effectivity.

This, he mentioned, is geared in the direction of delivering seamless experiences to contributors. He went additional to explain the digital presentation of surplus to clients as a mirrored image of the corporate’s imaginative and prescient and dedication to transferring ahead as an organization.

Additionally, the Vice-Chairman of Noor Takaful Insurance coverage Restricted, Aminu Tukur, disclosed that the corporate, which has 15,000 contributors, has paid N9bn in claims within the final seven years.

Tukur famous that the fee of surplus exemplifies the corporate’s dedication to providing Sharia-compliant options to clients. He disclosed that non-interest finance or Islamic finance, as it’s regulated in Nigeria stays the one type of finance that gives a fairer various to clients, urging them to benefit from it.

Noor Takaful Insurance coverage Ltd established in April 2016 is licensed by the Nationwide Insurance coverage Fee.