Joy Agwunobi
Noor Takaful Insurance Limited, Nigeria’s pioneer composite Takaful insurance provider, has reaffirmed its commitment to deepening ethical and inclusive insurance access across the country through stronger collaboration with brokers and partners.
The company made this known at its 2025 Partnership and Recognition Event held in Lagos with the theme, “Driving Growth Through Partnership.”
Speaking during the event, Aminu Tukur, vice chairman of Noor Takaful, said the celebration was designed to honour the company’s brokers and partners for their role in advancing the growth of ethical insurance and building trust among participants nationwide.
Tukur noted that the company’s success over the years has been rooted in the collective strength and dedication of its partners. “Through your commitment 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.
According to him, the event’s theme embodies Noor Takaful’s strategic intent to celebrate loyalty, collaboration, and shared prosperity, which he described as the pillars of the company’s philosophy. He added that these values will continue to guide the insurer as it positions for stronger growth and excellence heading into 2026 and beyond.
In his address, Rilwan Sunmonu, managing director of Noor Takaful Insurance Limited, revealed that the company recorded a gross written contribution of ₦4.3 billion, driven largely by its robust network of over 200 broker partners across the country. He said the company achieved this despite regulatory and market challenges over the past year, reflecting its resilience and the effectiveness of its partnership-driven business model.
Sunmonu disclosed that Noor Takaful has set an ambitious target to reach ₦30 billion in gross written contributions by 2026, which it plans to achieve through strategic product diversification, regulatory alignment, and deeper market penetration. “Our focus remains on sustainable revenue growth built on innovation, operational efficiency, and stakeholder engagement,” he said.
He further noted that the company’s strategic roadmap involves consolidating its leadership position in Nigeria’s insurance space by enhancing regulatory compliance, strengthening its operational backbone, and expanding customer access through inclusive and ethical insurance offerings.
Speaking on the industry outlook, Ismaeel Ayanlere, chief business development officer at Noor Takaful, acknowledged that Takaful insurance in Nigeria remains at an early stage, with current penetration estimated at 0.3 percent . However, he projected that the segment could grow to 1.5 percent by 2030, driven by rising demand for ethical finance solutions, regulatory reforms, and the increasing use of digital distribution channels.
Ayanlere described the Takaful sector as being at a “turning point,” transitioning from a niche offering into a mainstream inclusion-focused financial solution. He argued that with strategic policy implementation, including the signing of the NIIRA Act, the industry could witness improved fund safety, stronger capitalisation, and enhanced public trust. “Takaful can become a cornerstone for ethical financial inclusion, social protection, and a viable alternative within Nigeria’s evolving economic landscape,” he added.
Also speaking at the event, Abiola Thompson, chief operating officer of Noor Health, the company’s Sharia-compliant health management organisation (HMO), said the health subsidiary was created to close Nigeria’s healthcare access gap by providing affordable and wellness-driven medical services across the country.
Thompson described Noor Health as the first national, Sharia-compliant HMO in Nigeria and emphasised that brokers remain instrumental to its mission of expanding healthcare access through partnerships. “Our brokers are vital growth enablers who will help us extend our portfolio beyond Takaful insurance into ethical healthcare. Through our expanding hospital network and digital tools, we are building a health system where doing good and doing well go hand in hand,” she said.
The event’s major highlight was the recognition of brokers who demonstrated exceptional performance and loyalty in promoting Noor Takaful’s vision. The company honoured two categories of partners—Top Performers and Strongest Loyalty Brokers for their invaluable contributions to its growth and sustainability.
Among those recognised as Top Performers were Colenson Brokers Nigeria Limited;Rachbuk Insurance Brokers Limited;P.R.A. Insurance Brokers Limited;Prorisk Insurance Brokers Limited;Hakash and Company Insurance Limited. Those recognised for Strongest Loyalty include:First Adequate Benefits Insurance Brokers Limited; Pure Surplus Insurance Brokers Limited and Priority Insurance Brokers Limited.
The event underscored Noor Takaful’s strategy of strengthening its partner ecosystem as a key lever for sustainable expansion. By fostering collaboration across the insurance and health sectors, the company said it aims to deepen ethical insurance inclusion and contribute meaningfully to Nigeria’s broader financial stability and social protection agenda.
