Composite Takaful insurance firm, Noor Takaful Insurance Limited, has called for greater collaboration with partners, including brokers, to expand access to ethical and inclusive insurance solutions for all Nigerians.
The company’s Vice Chairman, Aminu Tukur, stated this during its recent Partnership and Recognition Event held in Lagos.
The event recognised two categories of brokers, top performers and strongest loyalty, for their valuable contribution to the growth of Noor Takaful as a business. The brokers recognised as top performers include Colenson Brokers Nigeria Limited, Rachbuk Insurance Brokers Limited, A. Insurance Brokers Limited, Prorisk Insurance Brokers Limited, and Hakash and Company Insurance Limited. First, Adequate Benefits Insurance Brokers Limited, Pure Surplus Insurance Brokers, and Priority Insurance Brokers Limited were rewarded as brokers with the strongest loyalty.
Delivering the opening remarks, Tukur stated that the event celebrates and reaffirms the trust, collaboration, and shared prosperity, the values the company is known for.
He explained that the event theme, ‘Driving Growth Through Partnership’, perfectly captures the strategic intent, which includes celebrating valued partners for their contribution, loyalty, belief, and alignment to position it for greater growth and excellence in 2026 and beyond.
According to him, Noor Takaful’s success is deeply connected 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 said.
Also speaking at the event, the Managing Director of Noor Takaful Insurance Limited, Rilwan Sunmonu, disclosed that the company has sustained profitable growth despite regulatory and market headwinds in the last 12 months, adding that the partnership with over 200 brokers has resulted in a gross written contribution of N4.3bn.
Sunmonu stated that the company is committed to driving sustainable revenue growth by attaining a Gross Written Contribution of N30bn in 2026 through strategic product expansion and market penetration.
He explained that the company has implemented a multi-faceted strategy focused on regulatory alignment, operational robustness, and stakeholder engagement to secure its leadership position in the insurance sector.
In his remarks, Chief Business Development Officer of Noor Takaful Insurance Limited, Ismaeel Ayanlere, recognised the low penetration of Takaful in Nigeria. He said that with key drivers such as a growing insurance population, regulatory reforms, digital distribution, and awareness of ethical finance, penetration is expected to increase from 0.3 per cent in 2024 to 1.5 per cent by 2030.
Ayanlere revealed that Takaful insurance in Nigeria has reached a turning point, shifting from a niche product to a mainstream, inclusion-driven growth engine. He noted that Takaful has the potential to surpass the growth of the broader insurance market, positioning itself as a cornerstone for ethical financial inclusion, social protection, and a viable alternative within Nigeria’s economic landscape if strategically harnessed.
He stated that signing and implementing the NIIRA Act will strengthen participants’ confidence and trust in fund safety, encourage stronger capital bases to underwrite larger risks, and create better insurance penetration.
Also, the Chief Operating Officer of Noor Health, Abiola Thompson, stated that the company, the first national, Sharia-compliant HMO, was set up to bridge the health gap by delivering accessible, affordable, and wellness-driven care for clients. Thompson revealed that brokers remain huge partners in growth that would help the company expand portfolios beyond insurance (Takaful) into ethical healthcare.
