Royal Exchange Assurance pays a compensation of NBC 3.24 billion NGN (21.6 million USD)

The country's number one insurer, Royal Exchange Assurance, is going to pay the costliest claim in Nigeria's history. On December 18, 2008, the claim, which occurred in the premises of Nigeria Bottling Company and which was initially estimated at 13.5 billion NGN (90 million USD), will be finally settled at 6.824 billion NGN (45.5 million USD). Royal Exchange Assurance led the policy with a 47% share. Its loss share amounts to 3.24 billion NGN (21.6 million USD).