International Energy Insurance Plc (IEI) says it has paid more than ₦970 million in insurance claims in 2026, while its minimum capital requirement has risen above ₦28 billion.
The company disclosed this in a statement, noting that the payments covered claims submitted by policyholders during the year.
It said claims settlement was subject to the submission of complete documentation and the completion of necessary verification processes.
The insurer also disclosed that its minimum capital requirement had exceeded ₦28 billion, although it did not provide further details on the composition of the capital or how the increase was achieved.
Claims settlement remains a key measure of an insurance company’s ability to meet its obligations to policyholders.
IEI, established in 1969, operates in Nigeria’s general insurance market, providing property and casualty insurance as well as specialised underwriting services.
The company is listed on the Nigerian Exchange and operates under the regulatory oversight of the National Insurance Commission.
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