Noor Takaful surpasses N1.3bn surplus distribution, Noor Health makes HMO history

Nike Popoola

Noor Takaful Insurance Limited and Noor Health Ltd. are set to make history as they host the 2026 Surplus Distribution Ceremony on Tuesday, August 11, 2026, in Lagos.

A statement from the event will bring together regulators, participants, enrollees, healthcare providers, brokers, corporate partners and other key stakeholders to celebrate 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, having successfully paid surplus every year since commencing operations in 2017. Following this year’s distribution, the Company will have returned more than ₦1.3 billion in surplus to its participants, making it by far 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.

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

The surplus distribution reflects 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. Subject 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 demonstrates how the principles of mutuality, transparency and shared benefits can also be successfully applied to healthcare financing, ensuring that members benefit not only from access to quality healthcare but also 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 another 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. With this year’s distribution, we will have paid over ₦1.3 billion in surplus to our participants. This demonstrates that Takaful is more than insurance—it is a system built on fairness, shared responsibility and shared prosperity.

We are equally proud that Noor Health is now extending these same principles to healthcare financing by becoming the first HMO in Nigeria to distribute surplus to eligible enrollees. 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 therefore celebrates not only another successful year of surplus distribution by Noor Takaful, but also 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 people they serve.