Ethical Insurance: Noor Takaful Urges Stronger Collaboration To Deepen Access

Noor Takaful Insurance Limited, Nigeria’s pioneer composite Takaful insurance firm, has called for stronger collaboration with its partners and brokers to expand access to ethical and inclusive insurance solutions across the country.

The company’s vice chairman, Aminu Tukur, made the call yesterday during the firm’s Partnership and Recognition Event at Radisson Blu, Ikeja, Lagos.

Tukur said the event, themed “Driving Growth Through Partnership,” was designed to celebrate and reaffirm the values of trust, collaboration, and shared prosperity that define Noor Takaful’s operations. He emphasised that the company’s success is tied to the strength and commitment of its partners.

“Through your dedication and support, Noor Takaful has continued to expand its reach, deepen its impact, and strengthen participants’ confidence nationwide. You, our brokers and partners, are not just intermediaries—you are the bridge between our vision and the people we serve,” he stated.

Speaking at the event, the managing director of Noor Takaful Insurance Limited, Rilwan Sunmonu, said the company has maintained profitable growth despite regulatory and market challenges in the past year. He revealed that collaboration with more than 200 brokers contributed to a gross written contribution of N4.3 billion.

Sunmonu added that Noor Takaful is targeting a Gross Written Contribution of N30 billion by 2026 through product expansion and deeper market penetration, supported by a robust operational and stakeholder engagement strategy.

Chief Business Development Officer, Ismaeel Ayanlere, noted that Takaful insurance in Nigeria is at a turning point, moving from a niche product to a mainstream, inclusion-driven growth engine. He projected that with key drivers such as digital distribution, ethical finance awareness, and regulatory reforms, insurance penetration could rise from 0.3 per cent in 2024 to 1.5 percent by 2030.

He also urged for the implementation of the NIIRA Act, which he said would strengthen participants’ confidence, enhance capitalisation, and improve insurance penetration in Nigeria.

Similarly, the chief operating officer of Noor Health, Abiola Thompson, said the company—Nigeria’s first national Sharia-compliant Health Maintenance Organisation (HMO)—was established to provide accessible, affordable, and wellness-driven healthcare. She reaffirmed that brokers remain critical partners in helping the company expand into ethical healthcare.