Lagos - Life insurance companies posted a lower net income last year due to unexpectedly high claims.
The surge in claims has been partly attributed to the Boko Haram insurgency in the northern part of the country, reports The Nation.
Between January and June 2013, insurance firms paid over N1.5 billion to the families of military personnel who died in the anti-terrorism war aside from payment to those who died from other causes.
The figure is expected to rise as more casualties are being recorded.
Read more at The Nation.
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