Noor Takaful surpasses N1.3bnin surplus distribution

Noor Takaful Insurance Limited and Noor Health Ltd are set to make history by hosting the 2026 Surplus Distribution Ceremony tomorrow in Lagos.

The event will bring together regulators, participants, enrollees, healthcare providers, brokers, corporate partners, and other key stakeholders to celebrate yet another milestone in ethical insurance and healthcare financing.

This year’s ceremony marks two significant achievements. Noor Takaful will continue its unbroken tradition of distributing underwriting surplus to eligible participants and has successfully paid out surplus every year since it began operations in 2017.

Following this year’s distribution, the company will have returned over N1.3 billion in surplus to its participants, making it the largest and most consistent distributor of Takaful surplus in Nigeria. This remarkable achievement reflects the strength, sustainability, and participant-focused nature of the Takaful model.

By the ceremony, Noor Health will become the first Health Maintenance Organisation (HMO) in Nigeria to distribute surplus to eligible enrollees, setting a milestone for the healthcare industry and extending the principles of mutuality and shared value beyond insurance into healthcare financing.

The surplus distribution embodies the core principles of the Takaful model, where participants mutually contribute to a common risk fund based on cooperation, shared responsibility, and ethical risk sharing.

According to the applicable surplus distribution policy, participants who do not make claims during the financial year may become eligible to receive a share of the underwriting surplus remaining after claims, reserves, and other regulatory obligations have been met.

The extension of this model to Noor Health illustrates how the principles of mutuality, transparency, and shared benefits can also be successfully applied to healthcare financing, ensuring that members not only gain access to quality healthcare but also benefit from the prudent management of the collective healthcare risk fund.

Speaking ahead of the event, the Managing Director of Noor Takaful Insurance Limited, Rilwan Sunmonu, described the ceremony as a defining moment in the evolution of ethical insurance and healthcare financing in Nigeria.

“Since commencing operations in 2017, Noor Takaful has consistently fulfilled one of the most distinctive promises of the Takaful model by returning surplus to eligible participants every single year,” he said.

“With this year’s distribution, we will have paid over N1.3 billion in surplus to our participants. This demonstrates that Takaful is more than just insurance—it is a system built on fairness, shared responsibility, and shared prosperity.

“We are equally proud that Noor Health is extending these same principles to healthcare financing by becoming the first HMO in Nigeria to distribute surplus to eligible enrollees.

READ ALSO: Customs records N408.86bn from Lekki Port, LFTZ in six months

“This is not only a historic achievement for Noor Health but also for Nigeria’s healthcare industry.

“Together, these milestones reinforce our commitment to building a more ethical, transparent, and rewarding financial and healthcare ecosystem for Nigerians.”

The 2026 Surplus Distribution Ceremony will provide participants and enrollees with the opportunity to receive their surplus entitlements, engage directly with the leadership of Noor Takaful and Noor Health, and gain a deeper understanding of the long-term benefits of the Takaful model and ethical healthcare financing.

The ceremony not only celebrates another successful year of surplus distribution by Noor Takaful, but also marks a historic industry first by Noor Health.

It reinforces Noor Group’s position as Nigeria’s leading innovator in ethical insurance and healthcare financing, demonstrating that institutions built on the principles of fairness, transparency, and shared prosperity can deliver tangible value back to the communities they serve.