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SanlamAllianz Nigeria Launches Proud Moments 2.0, Celebrates Achievements Worth Protecting

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Riding on the resounding success of its foundational debut, SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance Nigeria and its subsidiary, SanlamAllianz General Insurance Nigeria, has announced the launch of its Proud Moments 2.0 campaign, an initiative designed to celebrate personal journeys, milestones, achievements, and everything that makes a person proud.

The campaign marks a refreshing shift from the traditional fear-based approach or uncertainty to insurance, reframing the narrative through positivity and the recognition of life’s hard-earned achievements.

Built around the powerful proposition, “You’ve Earned It. Celebrate It”, the Proud Moments 2.0 campaign shines light on not just one person’s successes, but also on the invaluable support systems: parents, grandparents, teachers, neighbors, mentors, friends and loved ones; all who helped make those dreams come true.

From starting a business, purchasing a first car or home, to achieving educational milestones, building a family or overcoming personal challenges, the campaign recognizes that success means something different to each person.

“At SanlamAllianz Nigeria, we strongly believe that insurance should not be viewed merely as a response to what could go wrong, but as an empowering enabler that recognizes, celebrates and provides people with the confidence, financial security and peace to enjoy what they have worked hard to achieve and continue towards life’s next chapters,” Chris Ekwonwa, Group Head, Strategy, Marketing and Customer Relations, SanlamAllianz Nigeria, said about the campaign. “This is why we are launching our Proud Moments 2.0 campaign, to remind the market that we are not just in the business of providing insurance solutions; but also recognize that every achievement, big or little, is a proud moment worth celebrating,” he concluded.

The campaign, which will run for upwards of eight weeks across digital platforms, includes a socials-only call for nominations of trending and emotional true-life events, with clear positive denouements; a national radio campaign and product advertising on select digital platforms. Shedding light on the campaign, Bankole Banjo, Marketing and Corporate Communications Manager, SanlamAllianz Nigeria, said: “We want authentic Nigerian stories, published on socials, and with a life-changing outcome. We will select the most resonant and the main character of that story will enjoy an all-expense paid trip to watch the 2026 Youth Olympics in Dakar courtesy of SanlamAllianz Nigeria. Details are as shared across our various platforms.”

Recall that SanlamAllianz Life Insurance Nigeria Limited and its subsidiary, SanlamAllianz General Insurance Nigeria Limited, were amongst the original list of insurers who made the list of recapitalized companies as released by the National Insurance Commission. The Proud Moments 2.0 campaign further reaffirms their solid financial base, continuous commitment to insurance education and customer appreciation across various economic strata of the Nigerian market.

 

About SanlamAllianz Nigeria

Formed as a merger of Sanlam, Africa’s biggest non-banking financial services firm and Allianz, easily the world’s most recognisable insurance brand in a JV across 28 countries on the continent, SanlamAllianz has become the clear leader in the non-banking financial services industry in Africa with strong commitments to be top two in every market in which they operate.

Consummated in Nigeria as SanlamAllianz Nigeria (comprising SanlamAllianz Life Insurance and SanlamAllianz General Insurance) in June 2025, the brand has continued to flourish with presence in more than 30 states of the Federation and is widely regarded as one of the foremost insurance companies in the country.

Insurance Meets Tech 5.0 Now Holds on November 20, 2026

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Insurance Meets Tech (IMT), Nigeria’s leading platform for conversations at the intersection of insurance and technology, has announced that its fifth edition, IMT 5.0, will now hold on Friday, November 20, 2026, at Balmoral Hall, Sheraton Hotel, Lagos. The conference was previously scheduled for September 18.

The change follows logistical constraints outside the organisers’ control. Rather than compromise the experience its stakeholders have come to expect, the organising team moved the date to protect the standard IMT has built over five years.

Convener of Insurance Meets Tech, Odion Aleobua, said the decision was intentionally taken to safeguard the platform’s integrity rather than rush delivery.

“We do not take this lightly,” he said. “IMT has earned its place by holding a high bar, and we would rather move our date than move that bar. Five years in, our stakeholders do not just attend IMT, they build on it. Every partnership struck and every deal closed on this platform carries forward into the industry long after the conference ends. That is a responsibility we take seriously, and it is the same responsibility guiding this decision.”

He added that the additional weeks would allow the team to address all the moving parts to ensure another successful event.

“November 20 gives us the room to deliver the edition our stakeholders expect, one that matches the ambition of where this industry is headed. We are grateful for the trust of everyone invested in what IMT is building, and we look forward to hosting them in November.”

All existing sponsorships and registrations remain valid for the new date. Sponsors and already registered participants need to take no further action.

IMT 5.0 will convene insurers, regulators, technology founders, investors and policymakers around the commercial and regulatory questions shaping the next phase of insurance in Nigeria and across the continent.

About Insurance Meets Tech (IMT)

Insurance Meets Tech (IMT) is West Africa’s leading annual insurance and technology conference, dedicated to promoting collaboration between the insurance industry and the technology ecosystem. Through conferences, thought leadership, networking and strategic partnerships, IMT serves as a gateway for digital transformation, industry growth and customer-centric innovation within the insurance sector.

Sanwo-Olu, Lai Mohammed, Gbenga Daniel to Discuss 2027 Elections, Insecurity at 7th Freedom Online Lecture

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Challenges facing the economy and insecurity, especially associated with elections in a developing economy like Nigeria, will be the focus of discussion at the seventh yearly lecture of Freedom Online (www.freedomonline.com.ng) on September 3 in Lagos.

Freedom Online, according to a statement by its Managing Director/Editor-in-Chief, Gabriel Akinadewo, is focusing on how to tackle insecurity during the lecture “because it has become a monster, threatening to consume the nation-state called Nigeria.

“What does the future hold for Nigeria after the 2027 general elections? How will the election be conducted in a way that will be acceptable to all? Will the outcome lay a solid foundation for the future of the country?

“We believe that actions of politicians, security agents and INEC officials, before, during and after the election will, one way or the other, decide the fate of the more than 200 million Nigerians in this geographical space. Obviously, insecurity, part of which is thuggery during elections, leads to poverty, underdevelopment and other social vices. Nigeria’s political, economic and social fabric is disintegrating because of this time bomb and the outcome of the election will go a long way to decide Nigeria’s future in global affairs.”

Akinadewo said Governor Babajide Sanwo-Olu of Lagos State is the Special Guest Speaker while former Information & Culture Minister, Alhaji Lai Mohammed and former Ogun State Governor, Senator Gbenga Daniel, are the Chairman and Special Guest of Honour respectively.

The President of the Nigerian Guild of Editors (NGE) and Editor of Vanguard, Eze Anaba, is the Chief Host.

AXA Mansard Intensifies Hepatitis Awareness with Free Community Screening

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As part of efforts to promote preventive healthcare and early detection of diseases, AXA Mansard Health has taken its hepatitis awareness campaign to Bariga, Lagos, providing residents with free screening, health education and support services.

The initiative, organised to commemorate World Hepatitis Day 2026, reflects the health management organisation’s continued focus on improving access to preventive healthcare, particularly in communities where routine screening and health information may be limited.

Residents who participated in the outreach received free hepatitis screening and were educated on prevention, diagnosis and the importance of seeking timely medical attention.

The programme also extended beyond medical intervention, with relief packages distributed to vulnerable families in the community as part of efforts to provide immediate support to beneficiaries.

According to AXA Mansard Health, taking health education and screening directly to communities is critical to closing gaps in awareness and access to preventive services.

The initiative underscores the growing importance of preventive healthcare in Nigeria, where delayed diagnosis and limited access to routine screening can worsen the health and financial consequences of treatable diseases.

For insurers and health maintenance organisations (HMOs), greater emphasis on prevention and early detection could also help reduce long-term healthcare costs by encouraging timely intervention before illnesses become more severe.

The Bariga outreach therefore highlights a broader shift in healthcare delivery towards awareness, screening and early intervention rather than treatment after diseases have advanced.

AXA Mansard Health said it would continue to support initiatives that equip Nigerians with the knowledge and resources needed to make informed decisions about their health.

The organisation stressed that sustained public education and improved access to screening are essential to preventing hepatitis from progressing into serious and potentially life-threatening conditions.

The campaign also demonstrates the role of private-sector, early detection and preventive care.

 

Heirs Insurance Group Celebrates 1,000 Retirees at Lagos Meeting

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Heirs Insurance Group, Nigeria’s fastest-growing insurance group, reaffirmed its commitment to supporting retirees and fostering inclusion at its inaugural Heirs Insurance Retirees Meet-up.

Held on Friday, August 21, 2026, in Lagos, the event brought together more than 1,000 retirees in Lagos for a day of learning, wellness, networking and recreation.

At a time when retirees are often under-represented in conversations around economic wellbeing, healthcare and social engagement, the Heirs Insurance Retirees Meet-up created a dedicated platform that placed them at the centre of meaningful discussions and support.

The gathering featured expert-led sessions, complimentary health screenings, financial guidance and interactive engagements designed to help retirees maintain their wellbeing, manage their finances, and navigate life after active employment with confidence and dignity. It also included the provision of efficient and effective retirement planning created to support them throughout their lifetime. Participants also had the opportunity to connect with peers, share experiences and build valuable social networks within a supportive community environment.

As part of the event, Heirs Insurance Group launched a dedicated rewards programme for its annuitants, extending its relationship with retirees beyond monthly annuity payments and reinforcing its commitment to their long-term wellbeing.

Through the Heirs Insurance Rewards Programme, annuitants can access discounts from selected health and lifestyle partners.

Speaking at the event, Chief Marketing Officer, Heirs Insurance Group, Ifesinachi Okpagu, said: “Retirees have spent decades contributing to society, their families and the economy, yet they are sometimes forgotten in conversations about financial wellbeing, healthcare and quality of life. Through the Heirs Insurance Retirees Meetup and our growing Retirees Club, we are intentionally creating a platform that brings retirees together, celebrates them and gives them access to the information, support and community they need to thrive in retirement.”

The Heirs Insurance Retirees Club is a growing community for retirees and pre-retirees, providing members with practical retirement information, access to exclusive events, relevant product and service updates, partner discounts and customer milestone benefits.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited and Heirs Insurance Brokers, serves corporate and individual customers across Nigeria.

Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.

 

 

NLNG, Petroleum Ministry Inspect Train 7 Project Site in Bonny

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From left are Dagogo Buowari, Manager, Nigerian Content Development, Mrs. Patience Oyekunle; Ali Uwais, Project Director, Train 7 Project and Tolulope Longe, Manager, Contracts, Procurement & Materials.

Mrs. Patience Oyekunle, Permanent Secretary, Ministry of Petroleum Resources and Chairperson of the NLNG Board Local Content Committee (LCC), during a visit to the Train 7 Project site at the NLNG Bonny Plant to gain firsthand insight into the project’s progress and assess its readiness.

 

 

 

AIICO Insurance Refutes False Allegations, Reaffirms Commitment to Due Process

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AIICO Insurance Plc has become aware of a sustained campaign of false and misleading allegations being circulated by Mr. Obinna Adolphus Nwosu, a former agent of the company to various stakeholders, including regulatory authorities, law enforcement agencies, media organisations, bloggers, employees and other members of the public.

For the avoidance of doubt, Mr. Nwosu’s appointment as an agent of AIICO Insurance Plc was terminated. Following the termination of his appointment, the company published a public notice in national newspapers on June 26, 2025, expressly warning customers and members of the public against continuing to transact or maintain any business relationship with him on behalf of, or in connection with, AIICO Insurance Plc.

Notwithstanding this, Mr. Nwosu has continued to circulate false and misleading narratives about the Company through various channels, including digital platforms and direct communications with stakeholders.

His persistent and increasingly aggressive efforts to disseminate these claims have the potential to cause unwarranted damage to the company’s reputation and create unnecessary concern among its employees, customers and other stakeholders.

AIICO Insurance Plc wishes to state unequivocally that these allegations are false and should be treated with the utmost caution. Rather than engage in a media exchange or submit to a trial in the court of public opinion, the company has elected to pursue the matter through the appropriate legal channels and has consequently commenced a defamation action against Mr. Nwosu at the Lagos State High Court.

AIICO Insurance Plc will not be drawn into a public exchange with a former agent who has chosen to continue making unsubstantiated allegations while the matter is being pursued through the courts. The company remains confident that the facts will be properly examined and determined through the established judicial process.

Members of the media, regulators, employees, customers and the public are therefore urged to exercise due caution and discountenance the false and misleading narratives being circulated by Mr. Nwosu.

Mr. Nwosu should make himself available to receive the relevant court processes and allow the matter to proceed in accordance with the law, rather than continuing to prosecute his claims through digital media and direct approaches to individuals within and outside the company.

Any genuine grievance or complaint should be presented through the appropriate regulatory, investigative or judicial channels, where it can be properly examined and determined based on verifiable facts and evidence.

AIICO Insurance Plc remains committed to the highest standards of integrity, accountability and transparency.

The company will continue to pursue all lawful avenues available to protect its reputation, its employees, customers and other stakeholders and to ensure that the matter is resolved through due process and in accordance with the law.

 

 

AFRACA-NIRSAL Masterclass Builds Financial Institutions’ Capacity for Climate, AI-Driven Agricultural Finance

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The African Rural and Agricultural Credit Association (AFRACA), in collaboration with NIRSAL Plc and other partners, has convened finance-sector professionals from across Africa in Lagos for the AFRACA Masterclass on Inclusive Finance for Climate Resilience and Artificial Intelligence for Financial Services and Agricultural Finance.

The week-long programme brings together participants from Uganda, Ghana, Tanzania, the Democratic Republic of Congo, Kenya, Nigeria and other African countries, with four Central Banks represented. Nigerian participants include commercial banks, insurance companies, development finance institutions, microfinance banks, and the Central Bank of Nigeria.

Opening the programme, AFRACA Secretary-General, Ms. Ngo Bakang Anny Caroll, expressed delight at the return of AFRACA’s capacity-development programme to Nigeria for the first time since 2017.

Against the backdrop of climate change and stressed food systems, she drew attention to the responsibility of Africa’s financial institutions as custodians and allocators of capital, emphasising the role they must play in strengthening the continent’s capacity to sustainably feed itself and improve its global competitiveness.

NIRSAL Plc was represented by a delegation led by its Executive Director, Operations, Mr. Ewaen Imohe, who delivered a welcome address on behalf of the Managing Director/CEO, Mr. Sa’ad Hamidu.

Mr. Hamidu situated the programme within a broader challenge confronting agricultural finance in Africa: the relationship between knowledge, risk, and financial institutions’ disposition towards the sector. According to him, increasing finance to African agriculture requires continually improving the knowledge, systems, and capabilities that determine how finance is sourced, structured, deployed and managed.

“At NIRSAL, we have always maintained that agriculture, especially in sub-Saharan Africa, is not underfinanced because opportunities do not exist, but because the risks have not been sufficiently understood, measured, appropriately priced, and managed,” Mr. Hamidu said.

He explained that NIRSAL’s response has been to co-develop systems and financing frameworks that bring greater structure to agricultural value chains, better define and mitigate their risks, and improve financiers’ understanding of the sector and confidence to lend.

The results, he said, are evident in the growing participation of financial institutions in agricultural lending. In 2025, NIRSAL approved Credit Risk Guarantees for loans in excess of N100 billion and has already surpassed that figure in 2026 year-to-date, representing commercial capital flowing to farmers, processors, aggregators, exporters and other businesses across multiple agricultural value chains.

Of particular interest is the growing participation of non-interest financial institutions, which accounted for well over 50 percent of the loans guaranteed by NIRSAL in the first half of 2026. Mr. Hamidu said the trend demonstrates what becomes possible when appropriate risk-sharing frameworks create sufficient confidence for different forms of capital to participate in agriculture.

 

On the Masterclass

The NIRSAL Managing Director described the Masterclass as particularly timely, noting that climate change is no longer an abstract global concern but a practical reality confronting farmers, agribusinesses and their financiers every production season across Africa.

The programme’s first major theme, Inclusive Finance for Climate Resilience, exposed participants to the concepts, tools, and approaches required to understand climate risk and develop financeable adaptation and mitigation projects.

Discussions highlighted the need to deepen practical climate-finance expertise within the financial sector, particularly in climate-risk assessment, adaptation and mitigation, climate-rationale development, green-project structuring, and access to specialised climate-finance mechanisms.

Dr. Chris Myungu from the Alliance of Bioversity International & CIAT (CGIAR), partners on the programme, introduced participants to the Africa Adaptation Atlas and CGIAR climate-rationale outputs, demonstrating how climate data, research and evidence can support the identification and design of climate-resilient agricultural investments.

Overall, the sessions seek to translate climate finance from a broad development concept into practical knowledge that financial institutions can apply in identifying viable projects and mobilising capital towards them.

For the second major theme of the Masterclass, Artificial Intelligence for Financial Services and Agricultural Finance, Mr. Hamidu expressed the expectation that participants would move beyond the excitement surrounding AI to examine how it can improve risk understanding, transaction assessment, and financial decision-making in agriculture.

He also pointed to opportunities for technology to complement climate finance, blended finance, grants, and other innovative mechanisms capable of expanding the financial and technical resources available to African agriculture.

 

On Deepening AFRACA-NIRSAL Collaboration

Mr. Hamidu described the Masterclass as another demonstration of the value of NIRSAL’s membership of and partnership with AFRACA.

“AFRACA, for us, is a platform for knowledge, continental exchange, and global insight. On our part, we remain a results-driven source of practical experience for AFRACA member countries.”

The relationship combines AFRACA’s continental network and knowledge-exchange platform with NIRSAL’s practical experience in designing and implementing agricultural risk-sharing, value-chain development, and finance-facilitation interventions.

The Masterclass continues in Lagos with further technical sessions before moving into practical engagements on Artificial Intelligence for Financial Services and Agricultural Finance.

 

Shell Reinforces Safety Commitment at CEO Contractors Forum

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Shell leaders and Contractor CEOs at the Annual Shell Leadership and Contractor CEO Conference, reaffirming their shared commitment to collaboration, operational excellence, alignment on strategic priorities, and sustainable business performance.

Shell has hosted chief executives of contracting companies in Lagos highlighting the need to sustain safe operations across its businesses in Nigeria. The annual Shell Leadership and Contractor CEO Conference aims to shine a light on “a shared commitment to people, performance and safety.”

The theme of this year’s event is “Learn. Adapt. Improve.” Addressing the session, Executive Vice President and Country Chair Nigeria, Elohor Aiboni said: “Shell is delivering an extensive portfolio of projects and operations that will help meet Nigeria’s growing energy needs, create value for our stakeholders, and support national development. We are advancing major opportunities, executing complex work, and pursuing ambitious goals. But no matter how significant the opportunity, no matter how important the project, our success will always be measured first by how safely we deliver it. That is why this conference matters.”

The conference featured among other things, discussions and cascade of learnings, an exhibition and awards and recognitions for outstanding safety performances. The highlight of the event was the signing of the Leadership Charter which was jointly created in 2025 through collaboration between SNEPCo and her contractor partners.

“This year’s conference theme, Learn. Adapt. Improve, connects strongly with the purpose of the Charter,” SNEPCo Managing Director Ronald Adams said before the signing. “To learn, we must be honest about what has worked, what has been difficult, and what our people and operations are telling us. To adapt, we must be willing to adjust our approach where the realities of work require us to do better. To improve, we must make sure that the commitments in the Charter are not only discussed during conferences, but embedded into how we lead, how we engage, how we review performance, and how we support safe execution every day.”

Elohor reiterated the place of safety in company operations, adding: “Every person who works for Shell or on behalf of Shell deserves to return home safely to their family, every day, without exception.”

 

Guinea Insurance Receives New Licence from NAICOM Post-Recapitalisation

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L-R: Ademola Abidogun, Managing Director/CEO, Guinea Insurance Plc and Olusegun Omosehin, Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) during the new licence presentation to Guinea Insurance Plc in Abuja.

AXA Mansard Reports N7.8bn H1 Profit, Capital Base Meets Recapitalisation Threshold

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AXA Mansard Insurance Plc has sustained its growth momentum in the first half of 2026, posting a 14 per cent increase in profit after tax to ₦7.8 billion while reaffirming that it is well positioned to meet the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The insurer’s half-year performance comes as insurance companies intensify efforts to strengthen their balance sheets ahead of the industry’s recapitalisation programme, with operators increasingly focusing on underwriting discipline, digital transformation and business expansion to improve profitability despite macroeconomic headwinds.

The company’s unaudited financial results showed that insurance revenue rose by 19 per cent to ₦96.5 billion from ₦81.2 billion recorded in the corresponding period of 2025, while Gross Written Premium (GWP) increased by 17 per cent to ₦134.9 billion, reflecting strong business growth across its Property and Casualty, Life and Health businesses.

Health insurance remained the fastest-growing business line, with premiums rising by 32 per cent to ₦60.6 billion, followed by Life and Savings, which expanded by 21 per cent to ₦20.4 billion. Property and Casualty business also posted growth, with premiums increasing three per cent to ₦54 billion.

The insurer also recorded a 43 per cent growth in Insurance Service Result to ₦13.2 billion, underlining stronger underwriting performance across all business segments, while earnings per share increased by 15 per cent.

Despite recording a foreign exchange loss of ₦2.9 billion during the period, the company’s underlying earnings remained resilient. Excluding the foreign exchange impact, profit after tax would have increased by 54 per cent to ₦10.7 billion, highlighting significant improvements in underwriting performance and investment income.

Commenting on the performance, Chief Financial Officer of AXA Mansard, Ngozi Ola-Israel, attributed the growth to improved customer retention, expansion of new business and stronger underwriting performance.

She said the company remained focused on disciplined underwriting, cost optimisation and strengthening its balance sheet to deliver sustainable long-term value for shareholders.

“In H1 2026, we sustained topline momentum with a 19 per cent year-on-year increase in insurance revenues, underpinned by strong performance across all segments driven by our drive for new business and improved retention metrics.

“We delivered strong profit after tax of ₦7.8 billion, reflecting a 14 per cent year-on-year increase and a much stronger growth in the underlying earnings trajectory. Excluding foreign exchange impacts, profit after tax would have grown by 54 per cent,” she said.

The Chief Executive Officer, Kunle Ahmed, said the performance demonstrated the resilience of the company’s diversified business model despite prevailing economic challenges.

He added that the insurer remains adequately capitalised to comply with NAICOM’s new minimum capital requirements, describing the company’s balance sheet as strong enough to support future growth.

“On capital adequacy, I am pleased to confirm that the Group remains well positioned to meet the new minimum capital requirements stipulated by NAICOM, underscoring the strength of our balance sheet and our commitment to maintaining a robust capital base,” Ahmed said.

He noted that the company would continue to prioritise profitable growth, strengthen underwriting standards, improve cost discipline and deepen investments in digital technology and data analytics as macroeconomic conditions gradually improve.

The performance, according to him, reflects the improving financial health of leading insurance companies as operators continue to balance premium growth with underwriting profitability amid inflationary pressures, exchange rate volatility and rising operating costs.

The strong growth in insurance revenue and underwriting income indicates increasing resilience in the company’s core operations, while its ability to remain profitable despite foreign exchange losses underscores the effectiveness of its risk management and business diversification strategy.

To him, the ongoing recapitalisation of the insurance industry is encouraging operators to strengthen their capital positions, improve operational efficiency and invest in technology to enhance customer experience and underwriting capacity.

The company’s total assets rose by 18 per cent to ₦269.9 billion, while shareholders’ funds increased by 11 per cent to ₦58 billion, reinforcing its financial position ahead of the industry’s recapitalisation deadline.

The results come at a pivotal period for Nigeria’s insurance industry as operators race to comply with the recapitalisation provisions of the NIIRA 2025, which seek to create stronger insurers capable of underwriting large-ticket risks in oil and gas, aviation, marine, infrastructure and other strategic sectors of the economy.

With sustained growth in insurance revenue, underwriting income and profitability, AXA Mansard appears well positioned to leverage opportunities in Nigeria’s underpenetrated insurance market while delivering long-term value to shareholders and policyholders through stronger capitalisation, operational efficiency and disciplined execution.

An underwriting firm, AXA Mansard Insurance Plc has sustained its growth momentum in the first half of 2026, posting a 14 per cent increase in profit after tax to ₦7.8 billion while reaffirming that it is well positioned to meet the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The insurer’s half-year performance comes as insurance companies intensify efforts to strengthen their balance sheets ahead of the industry’s recapitalisation programme, with operators increasingly focusing on underwriting discipline, digital transformation and business expansion to improve profitability despite macroeconomic headwinds.

The company’s unaudited financial results showed that insurance revenue rose by 19 per cent to ₦96.5 billion from ₦81.2 billion recorded in the corresponding period of 2025, while Gross Written Premium (GWP) increased by 17 per cent to ₦134.9 billion, reflecting strong business growth across its Property and Casualty, Life and Health businesses.

Health insurance remained the fastest-growing business line, with premiums rising by 32 per cent to ₦60.6 billion, followed by Life and Savings, which expanded by 21 per cent to ₦20.4 billion. Property and Casualty business also posted growth, with premiums increasing three per cent to ₦54 billion.

The insurer also recorded a 43 per cent growth in Insurance Service Result to ₦13.2 billion, underlining stronger underwriting performance across all business segments, while earnings per share increased by 15 per cent.

Despite recording a foreign exchange loss of ₦2.9 billion during the period, the company’s underlying earnings remained resilient. Excluding the foreign exchange impact, profit after tax would have increased by 54 per cent to ₦10.7 billion, highlighting significant improvements in underwriting performance and investment income.

Commenting on the performance, Chief Financial Officer of AXA Mansard, Ngozi Ola-Israel, attributed the growth to improved customer retention, expansion of new business and stronger underwriting performance.

She said the company remained focused on disciplined underwriting, cost optimisation and strengthening its balance sheet to deliver sustainable long-term value for shareholders.

“In H1 2026, we sustained topline momentum with a 19 per cent year-on-year increase in insurance revenues, underpinned by strong performance across all segments driven by our drive for new business and improved retention metrics.

“We delivered strong profit after tax of ₦7.8 billion, reflecting a 14 per cent year-on-year increase and a much stronger growth in the underlying earnings trajectory. Excluding foreign exchange impacts, profit after tax would have grown by 54 per cent,” she said.

The Chief Executive Officer, Kunle Ahmed, said the performance demonstrated the resilience of the company’s diversified business model despite prevailing economic challenges.

He added that the insurer remains adequately capitalised to comply with NAICOM’s new minimum capital requirements, describing the company’s balance sheet as strong enough to support future growth.

“On capital adequacy, I am pleased to confirm that the Group remains well positioned to meet the new minimum capital requirements stipulated by NAICOM, underscoring the strength of our balance sheet and our commitment to maintaining a robust capital base,” Ahmed said.

He noted that the company would continue to prioritise profitable growth, strengthen underwriting standards, improve cost discipline and deepen investments in digital technology and data analytics as macroeconomic conditions gradually improve.

The performance, according to him, reflects the improving financial health of leading insurance companies as operators continue to balance premium growth with underwriting profitability amid inflationary pressures, exchange rate volatility and rising operating costs.

The strong growth in insurance revenue and underwriting income indicates increasing resilience in the company’s core operations, while its ability to remain profitable despite foreign exchange losses underscores the effectiveness of its risk management and business diversification strategy.

To him, the ongoing recapitalisation of the insurance industry is encouraging operators to strengthen their capital positions, improve operational efficiency and invest in technology to enhance customer experience and underwriting capacity.

The company’s total assets rose by 18 per cent to ₦269.9 billion, while shareholders’ funds increased by 11 per cent to ₦58 billion, reinforcing its financial position ahead of the industry’s recapitalisation deadline.

The results come at a pivotal period for Nigeria’s insurance industry as operators race to comply with the recapitalisation provisions of the NIIRA 2025, which seek to create stronger insurers capable of underwriting large-ticket risks in oil and gas, aviation, marine, infrastructure and other strategic sectors of the economy.

With sustained growth in insurance revenue, underwriting income and profitability, AXA Mansard appears well positioned to leverage opportunities in Nigeria’s underpenetrated insurance market while delivering long-term value to shareholders and policyholders through stronger capitalisation, operational efficiency and disciplined execution.

 

AXA Mansard Health Int’l Health Plan Covers Cancer, Other Chronic Health Conditions

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 Mr. Tope Adeniyi

CEO

AXA Mansard Health

AXA Mansard Health’s International Healthcare Plan, iMED, offers Nigerians access to comprehensive medical coverage for cancer, as well as critical medical procedures such as organ and bone marrow transplants, and international emergency medical assistance at leading healthcare facilities in Nigeria, the United States, the United Kingdom and Dubai.

According to estimates by the Global Cancer Observatory (GLOBOCAN), more than 150,000 new cancer cases are diagnosed annually in Nigeria, with over 90,000 deaths recorded each year. Among men, prostate, colorectal and liver cancers remain the most commonly diagnosed, while breast, cervical and colorectal cancers account for the highest incidence among women.

In response to these evolving healthcare needs, AXA Mansard was designed to provide its eligible enrolees with access to premium international health insurance coverage that supports access to advanced medical care for eligible medical conditions through a network of accredited healthcare local and international providers. This product offers comprehensive cover for a broad range of medical services, including chronic condition management, chemotherapy and radiotherapy where medically necessary, helping individuals prepare for unexpected health events and associated medical expenses.

Speaking on the rationale behind the introduction of the plan, Chief Executive Officer, AXA Mansard Health, Tope Adeniyi, said the company remains committed to developing solutions that address evolving healthcare needs while reducing barriers to specialized treatment.

“It’s heartbreaking to see the growing impact cancer continues to have on families and communities, not only in Nigeria but across the world. As a company committed to acting for human progress by protecting what matters, we recognise the need to continually develop healthcare solutions that respond to the realities our customers face.”

“Through iMED, we are bringing world-class healthcare closer to Nigerians by providing access to specialised treatment options across local and international medical facilities. This solution helps bridge critical gaps in healthcare access and gives our customers greater confidence that they can receive quality care when they need it most, regardless of where they are in the world,” Adeniyi said.

With access to an extensive network of leading healthcare providers across key medical destinations, including the United States, the United Kingdom and Dubai, iMED is designed to provide individuals, families and corporate clients with enhanced protection against the financial and emotional burden often associated with serious illnesses.

Beyond cancer care, the plan also provides access to treatment for a range of chronic and complex medical conditions, reinforcing AXA Mansard Health’s commitment to improving health outcomes and ensuring Nigerians have access to quality healthcare without geographical limitations.

As healthcare needs continue to evolve and demand for specialised treatments also increases, AXA Mansard Health remains focused on delivering innovative solutions that empower customers to navigate complex medical journeys with greater peace of mind while supporting broader efforts to improve health and well-being across Nigeria.

emPLE Bolsters Capital Capacity, Customer Confidence after Securing NAICOM Recapitalisation Mandate

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emPLE Nigeria has strengthened its capital position following the publication of her name on the list of approved companies on the official website of the National Insurance Commission (NAICOM), indicating that the company has met the applicable recapitalisation requirements, thereby reinforcing its financial strength and capacity to deliver sustainable value to customers and stakeholders across its Life and General Insurance businesses.

This marks a significant milestone in emPLE’s growth journey, reinforcing the company’s financial capacity to meet its obligations, pursue strategic growth opportunities and remain a long-term partner to individuals, families and businesses.

The company’s ability to deliver on this commitment was further demonstrated by the payment of over N7 billion in claims by emPLE Life Assurance Limited and emPLE General Insurance Limited in 2025, providing critical financial support to customers and beneficiaries and underscoring emPLE’s track record of standing by its customers when it matters most.

Speaking about the development, Olalekan Oyinlade, Managing Director, emPLE General Insurance Limited, said, “Meeting the recapitalisation requirement is important, but what matters most to us is what that strength enables us to do for our customers. Insurance is built on confidence. The confidence that when an unexpected event occurs, your insurer has both the capacity and the commitment to respond. Our strengthened capital position affirms that promise and gives us an even stronger foundation from which to serve our customers.”

He added: “The continued confidence of our shareholders and investors also reflects the strength of the business we are building, the quality of our leadership and the long-term opportunities we see in the Nigerian insurance market. We remain focused on building an institution that customers, partners and other stakeholders can rely on for many years to come.”

Commenting on the development, Jolaolu Fakoya, Managing Director, emPLE Life Assurance Limited, said, “Our business has always been centered on the people and the responsibility we carry when they entrust their families, businesses, assets and aspirations to us. A stronger capital position gives us greater capacity to fulfil that responsibility, deepen customer confidence and continue developing solutions that meet the real protection needs of Nigerians.”

He added, “As we look towards the next decade, our ambition goes beyond becoming a financially stronger insurer. We want to make insurance simpler, more accessible and more relevant to everyday Nigerians. That means investing in customer experience, embracing digital innovation, strengthening our partnerships and developing products that empower more people to protect what matters to them.”

For emPLE, this milestone highlights key fundamentals such as financial strength, the ability to pay claims, customer confidence and long-term trust on which insurance is built. With a stronger foundation in place, the company remains focused on building a people-centred insurance business that protects and empowers Nigerians today and into the future.

 

About emPLE

emPLE is a Nigerian insurance brand operating through emPLE General Insurance Limited and emPLE Life Assurance Limited, focused on delivering accessible protection solutions grounded in governance -, operational excellence, and sustainability.

T+1: SEC Insists on 5pm Settlement Deadline for Equities, Commodities on CSCS Platform

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The Securities and Exchange Commission (SEC) has fixed 5:00 p.m. on the first business day after a transaction (T+1) as the settlement deadline for equities and commodities traded and settled through the Central Securities Clearing System (CSCS).

The Commission made this clarification in a circular issued to capital market operators and other market participants as part of the implementation of the T+1 settlement cycle in the Nigerian capital market.

According to the SEC, all transactions in the affected securities must be fully paid by 5:00 p.m. T+1 to ensure compliance with the standard Delivery versus Payment (DvP) settlement procedure.

It warned that where a broker/dealer’s trading account is not adequately funded to meet its settlement obligation within the prescribed period, the default would be managed in line with the CSCS Default Management Procedure and the applicable transaction settlement guidelines of the relevant exchange.

The Commission also clarified that foreign portfolio investors are not required to prefund their accounts for trades in the Nigerian capital market.

However, it said capital market operators facilitating transactions on behalf of foreign portfolio investors must establish and maintain appropriate controls and processes to ensure timely funding and completion of settlements within the prescribed timeframe.

The clarification follows earlier SEC circulars on the implementation of the T+2 settlement cycle for equities transactions, issued on June 3, 2025, and the transition to the T+1 settlement cycle, issued on May 15, 2026.

The T+1 cycle means that eligible securities transactions are settled one business day after the trade date, reducing the period between execution and final settlement.

The SEC said the transition represents a significant milestone in its efforts to build a more efficient, resilient and internationally aligned trading and post-trade environment.

It added that the shorter settlement cycle would improve settlement efficiency, reduce counterparty risk, enhance liquidity and strengthen the competitiveness of the Nigerian capital market.

According to the Commission, the reforms would ultimately improve the attractiveness of the Nigerian market to both domestic and international investors.

Tinubu: Refineries Will Return to Deliver Profit, Welcomes Support by NUPENG

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President Bola Ahmed Tinubu said in Abuja refineries will not be allowed to waste away, given the huge investments made over many years, assuring that in-depth research, restructuring, and leadership will reposition them to deliver value and profit.

President Tinubu stated this when he received the National Executive of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), led by its National President, Comrade Salimon Akanni Oladiti, at the State House.

The President, while responding to a request by NUPENG to revive the nation’s oil refineries, explained that the challenges confronting the refineries would be addressed through a systematic, evidence-based approach rather than short-term interventions.

According to him, the Federal Government will encourage detailed research and technical assessments to identify the structural, operational, financial and managerial challenges affecting the facilities and develop sustainable solutions.

“The refineries that you mentioned are going to come back to work; we’re just building a very firm, resetting, and structural reworking of the economy of it. Ordinary flame and smoke of a refinery doesn’t mean that it’s working until it’s profitable and yields the value for which it is built.

“I’m not a man who goes looking back on everything because I’ve accepted the assets and liabilities of my predecessor. No matter what has happened in the years past, it’s now my responsibility as president to fix it and make it work for the greatest common good of our population. I take responsibility for that, and we will do it.

“I will just appeal to all of you to let us work diligently and passionately on this democracy. Democracy is about celebration of freedom and opportunity that must be cherished by all of us, just like a painful childbirth, but the joy is everlasting and long. And I promise you, you will enjoy a better Nigeria,” the President said.

Responding to the remark on the implementation of local government autonomy, President Tinubu promised that the constitutional issues involved in its implementation are being reviewed for possible fine-tuning. He appealed for understanding among stakeholders.

The President also took the opportunity to acknowledge a former President of the Union, the late Frank Kokori, for his role in deepening democracy in Nigeria.

“You brought good memories of my relationship with Frank Kokori; may his soul rest in peace.  We struggled for this democratic dispensation together, and it was very tough for us to have this democracy, and you have been a very good partner of the government in progress,” he said.

President Tinubu also promised the NUPENG executives more inclusion in the implementation of the Presidential Initiative on Compressed Natural Gas. He, however, challenged them to make the effects of the CNG drive get down to the commuters.

In his remarks, the Minister of Information and National Orientation, Alhaji Mohammed Idris, commended NUPENG for acknowledging the positive outcomes of President Tinubu’s reform agenda, stating that this mutual understanding has reduced friction between trade unions and the government.

“Your Excellency, it is not common that you find trade unions come back to the President and say, ‘ Thank you for what you have done. ‘ I think this is an uncommon situation. We saw that when the NLC leadership came to you two years ago, you approved the wage increase for Nigerian workers.

“In that meeting, you mentioned to the Labour Unions that there was no need for them to wait for five years before they could come for the review of the minimum wage.

“They actually had that request written somewhere, but they didn’t know that this was something that you already had in mind, so, for the first time, we saw the Labour Unions standing and giving you a standing ovation here in this room; it is very uncommon”, the Minister said.

 

The Minister added that it was instructive that the leadership of an influential and central trade union, such as NUPENG, has come to acknowledge and appreciate the positive developments arising from this administration’s reform agenda and its impact across various sectors of the economy.

“For their leader to come and recognise the reforms that you are doing, especially the major reforms you undertook in this country – the removal of fuel subsidy and also acknowledging that everywhere you go is a construction site in this country, is a good development,” he said.

The NUPENG President, Comrade Oladiti, commended the President for taking the bold decision to end the fuel subsidy regime, describing the policy as a courageous step that has saved the country from decades of financial drain and depletion of national reserves.

According to him, the decision to remove the fuel subsidy has begun to yield enormous benefits for the country by freeing resources for critical infrastructure development and other sectors of the economy.

He particularly commended President Tinubu’s renewed commitment to rehabilitating and constructing major highways across the country, especially the ongoing construction of the 750-kilometre Lagos-Calabar Coastal Highway and the 1,068-kilometre Sokoto-Badagry Superhighway as major examples of infrastructure projects.

“For our members, a good road is the difference between arriving home safely and never arriving at all. Every stretch of highway rehabilitated or constructed means fewer accidents, fewer spillages, fewer lives lost, and less stress for the men behind the wheels. Mr President, that is a reform our members feel in their bones, and for it we say thank you because our tanker drivers and other road users are already seeing the benefits of the rehabilitation and construction of federal highways,” he said.

He, however, appealed to the President to sustain efforts to revive the refineries, stressing that functional refineries would strengthen Nigeria’s energy security, reduce dependence on imported petroleum products, and create more opportunities for Nigerian workers.

The NUPENG leaders later decorated the President as the Grand Patron of the Union.