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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.

NRS Chair: Report of $279m Frontier Exploration Fund Transfer is Fake News

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The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has dismissed online reports linking the NRS to an imaginary fraud related to the Frontier Exploration Fund, calling it sponsored fake news.

The report had alleged the transfer of $279 million from the Fund’s account to some unnamed accounts and claimed that Adedeji and the NRS were in the know of the ‘illegal’ movement of money.

According to the report, the alleged fraud had put Adedeji under pressure with stakeholders calling for forensic audit of the Fund’s account.

But in his reaction via telephone, Adedeji dismissed the said report as fake news based on the imagination of some persons determined to tarnish his reputation and the image of the NRS.

“That report is not true in any way. It is pure fake news sponsored by some jobless persons whose pastime is to throw mud at high performers in the President Tinubu government. I consider it to be a brand of cheap journalism lacking in ethics and professionalism but heavy with malicious intentions.

“To prove to you that it was sponsored, take a critical look at the storyline and language. They are the same language and style in all the reports, meaning that one person wrote it and distributed across gullible online platforms,” Adedeji said.

The NRS chairman said that the sponsors of the report exhibited lack of understanding on what the Frontier Fund was all about and how it is disbursed.

He explained that the Frontier Exploration Fund was established under Section 9 of the Petroleum Industry Act, 2021 and was meant to finance petroleum exploration activities in frontier basins where commercially viable hydrocarbon reserves are yet to be fully established,

The frontier basins include Bida, Benue Trough, Anambra, Chad, Sokoto and Dahomey Basins. The Fund is to used for expenses in geological mapping, seismic surveys, exploratory drilling, appraisal wells, basin studies and other exploration activities.

 

Former CFI: Regulatory Concession on Recapitalisation Will Undermine Integrity of the Process

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The former Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Alhaji Mohammed Kari has charged the Minister of Finance and Co-ordinating Minister of the Economy, Mr. Taiwo Oyedele to ignore calls for regulatory concessions in the midst of the just concluded insurance industry recapitalisation exercise in the country.

The call, he said, is critical, especially, when the companies clamouring for such concessions were chronic defaulters whose failure or strict regulatory discipline poses absolutely zero systemic risk to the Nigerian financial system or the broader economy.

Recall that NAICOM had requested insurance companies, as part of the recapitalisation process, to transfer their entire recapitalisation funds into an escrow account with the Central Bank of Nigeria (CBN), a move that NICON Insurance and Nigeria Reinsurance Corporation are challenging in court.

NICON and Nigeria Re, in its July 27, 2026 petition, had petitioned NAICOM over what they described as unlawful fees and regulatory demands arising from the implementation of the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The firms, through their lawyers, wrote the Ministry of Finance to also mandate NAICOM to suspend its demand that both companies transfer their entire recapitalisation funds into an escrow account with the CBN pending the determination of a petition challenging the legality of the charges and directive.

To this end, Kari, who was also a former MD/CEO of NICON Insurance and Nigeria Re, said it is globally accepted that a government may occasionally intervene to rescue or support a consequential player in the financial sector, strictly where its distress poses a genuine ‘too big to fail’ systemic risk whose collapse would trigger a wider economic catastrophe.

Kari, who is the current Wazirin Bauchi, said:

“However, one must examine the reality of the two institutions in question today. These are no longer the market giants they once were decades ago. Having suffered years of steep decline, loss of market share, and severe operational shrinkage, their current market footprint is virtually insignificant. Their failure or strict regulatory discipline poses absolutely zero systemic risk to the Nigerian financial system or the broader economy.”

Why then should government intervene to shield operators whose distress carries no systemic consequence whatsoever, he queried, saying that rescuing or granting regulatory concessions to insignificant chronic defaulters cannot be justified under any sound macro-economic policy.

When political intervention steps in to shield such non-systemic entities from standard regulatory checks, he noted that the equilibrium of the market breaks down as it creates unfair advantage.

To him, “operators that meet compliance targets, carry the full cost of regulatory fidelity, while non-compliant firms that secure political exemptions operate with an artificial cost advantage.

“It disincentivises real capacity building: When political lobbying becomes an alternative to recapitalisation, companies are discouraged from making the hard structural choices necessary to refine their balance sheets and operations.”

Saying such concession, if granted to both insurance industry players in defunct, “distorts investor confidence: Both domestic and international investors look for predictable, transparent environments. A playing field where rules can be bent for select players frightens away patient capital. It weakens policyholder protection. ”

Regulatory standards, he stressed, exists primarily to guarantee that when disaster strikes, claims are paid promptly, adding that shielding insolvent entities directly exposes policyholders to unmitigated risk.

Advising the minister, he noted that Nigeria’s insurance sector has enormous untapped potential, but it can only realise that potential if the government allows a level playing field to flourish.

“The Federal Government must resist the urge to grant special carve-outs or act as an informal court of appeal for failing operators. NAICOM is the state’s empowered regulator; it must be permitted to apply the law equally to every company, whether privately owned, historically state-created, or under asset management control. I trust that it is through this uncompromising stance that the Federal Ministry of Finance, which bears the ultimate responsibility for managing Nigeria’s economy, will give the right impression to investors, insurers, and reinsurers the world over. By upholding regulatory integrity and refusing to shield non-compliant operators, your Ministry will demonstrate that Nigeria is serious about financial discipline, thereby building lasting global confidence in the Nigerian insurance sector, ” he emphasised in his Open Letter to the Minister of Finance.

 

Terrorism: SEC Directs Capital Market Operators to Freeze Assets of 9 Financiers

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The Securities and Exchange Commission (SEC) has directed capital market operators to freeze the funds, assets and other economic resources belonging to six individuals and three entities designated as terrorist financiers by the Nigeria Sanctions Committee (NSC).

The SEC, in a circular to all Capital Market Regulated Entities (CMREs), said the designations were made in line with the Terrorism Prevention and Prohibition Act (TPPA) 2022.

The six individuals are Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu and Yakubu Ogirima Ibrahim.

The three designated entities are Nine to Nine BDC Ltd, Generation Currency BDC Ltd and Abbal Bako & Sons Bureau de Change.

According to the SEC, Hammajama was listed on June 18, 2026, for involvement in terrorism financing and support for the Islamic State West Africa Province (ISWAP), while Usman was designated for providing material support to a designated terrorist organisation through repeated financial transactions.

The Commission said Abubakar was listed for involvement in terrorism financing and membership of ISWAP, while Chiroma was designated for allegedly using Bureau De Change (BDC) operations and related corporate entities to facilitate the movement of funds linked to terrorist activities.

Muktar Muhammad Adamu was listed on June 15, 2026, for providing financial support and facilitating transactions linked to the financing network of the ISWAP Okene cell, while Ibrahim was designated for providing material and financial support to the ISWAP Kogi cell.

The SEC said the three entities were listed for their alleged involvement in facilitating and channelling funds connected to the ISWAP Okene financing network.

The Commission directed CMREs to immediately identify and freeze, without prior notice, all funds, assets and other economic resources in their possession belonging to the designated persons and entities.

They are also required to report frozen assets and other compliance actions, including attempted transactions, to the Secretariat of the Nigeria Sanctions Committee.

In addition, the SEC directed regulated entities to immediately file suspicious transaction reports with the Nigerian Financial Intelligence Unit (NFIU) for further analysis of the financial activities.

It further instructed operators to report as suspicious transactions all cases of name matches in financial transactions, whether occurring before or after receipt of the sanctions list.

The regulated entities are also required to prohibit dealings with the designated persons and entities and continue monitoring for transactions involving them.

The SEC said any findings should be reported to the Nigeria Sanctions Committee through its designated reporting channel.

The circular takes immediate effect, with the commission warning that failure to comply would constitute a violation of the Investments and Securities Act, 2025, and the SEC Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Rules and Regulations.

It said violations could attract regulatory sanctions, including fines, suspension of operations or revocation of registration.

The SEC further reminded capital market operators that all unusual or suspicious transactions must be promptly reported to the NFIU.

 

NAICOM: Seven Additional Insurers Have Met Recapitalisation Deadline

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  • emPLE General Insurance Limited
  • emPLE Life Assurance Limited
  • Sovereign Trust Insurance Plc
  • Tangerine Life Insurance Limited
  • Alliance & General Insurance Plc
  • Guinea Insurance Plc
  • Regency Alliance Insurance Plc

With this development, forty-eight (48) insurance companies and two (2) reinsurance companies have been confirmed and verified as compliant with the Minimum Capital Requirements stipulated under NIIRA 2025 and applicable insurance laws and guidelines issued by the Commission, thereby bringing the Nigerian insurance industry recapitalisation exercise to a successful conclusion.

The NGX Engagement with Hong Kong Exchanges to Deepen Cross-Border Partnership

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Dr. Umaru Kwairanga, the Group Chairman, Nigerian Exchange Group (NGX) recently led a delegation to Hong Kong to explore and deepen partnership with Hong Kong Exchanges and Clearing (HKEX).

In his address, Kwairanga said HKEX has established itself as one of the world’s leading exchange groups and an important gateway connecting global capital with Asia.

“At NGX Group, we share a similar ambition within Africa, to build globally competitive market infrastructure that supports economic development, innovation and efficient capital allocation.

We therefore see significant value in strengthening institutional co-operation between our two exchanges.”

The Future of Exchanges

“Capital markets are evolving rapidly. Exchanges today are no longer simply venues for trading securities. They have become platforms for economic development, technological innovation, sustainable finance and international capital connectivity. As this evolution continues, partnerships between exchanges will become increasingly important. We believe NGX Group and HKEX can jointly contribute to shaping stronger financial linkages between Africa and Asia.”

Moving forward, the NGX Group Chairman listed likely areas of present and future partnership and collaboration.

  • Strategic Areas for Collaboration

Institutional Partnership

He said the NGX would welcome the development of a formal co-operation framework between NGX and HKEX that provides structure for long-term engagement.

Such co-operation could include annual executive meetings, technical working groups and knowledge exchange.

Cross-Border Market Development

Areas for collaboration may include:

  • Cross-border listings
  • Depositary receipt structures
  • ETF development
  • International investor access
  • Capital market integration

Technology and Innovation

We are particularly interested in hearing from HKEX’s experience in:

  • Exchange technology
  • Artificial Intelligence
  • Market surveillance
  • Digital infrastructure
  • Data commercialisation
  • Product innovation

Sustainable Finance

Another area of mutual interest is sustainable finance.

Potential collaboration could include:

  • Green finance
  • Climate disclosure
  • ESG reporting
  • Transition finance
  • Carbon market development

Capacity Building

The NGX will also welcome structured collaboration involving:

  • Executive exchange programmes
  • Technical secondments
  • Joint research
  • Staff training
  • Market development initiatives

Africa–Asia Investment Promotion

There is also an opportunity for both exchanges to jointly promote investment opportunities:

  • Annual investment forums
  • Joint investor conferences
  • Issuer roadshows
  • Research publications highlighting opportunities across both markets

Some of the key talking points at the Hong Kong meetings included briefing on the Nigerian capital market, especially the NGX achievements over the last three years, expectations for the medium and long term, including the Dangote Refinery IPO, which also has an international dimension with likely interest by investors in Asia.

It is equally important to state that lots of Chinese companies are investing in Nigeria, especially in the construction and mineral resources sectors.

“The ones that are public could explore Nigerian dual listings in order to access local capital for expansion and make local investors stakeholders. I told them that NGX would be willing to listen and assist any interested companies. Also, a lot of Nigerian companies also patronise Hong Kong and mainland China, which are recognised as manufacturing powerhouses.”

Kwairanga also raised the issue of options that the HKEX and Banks, especially Bank of China could offer to assist them in financing issues such as forex and leverage.

“Hong Kong financial institutions should also consider opening representative offices in Lagos, Nigeria to improve trade flows between Nigeria and Hong Kong. NGX is also interested in learning from Exchanges such as Hong Kong, which have been in existence for much longer and would therefore be interested in training and study tours/exchanges with the Hong Kong Exchange.”

Sovereign Trust Insurance Earns Recapitalisation Mandate from NAICOM, Reaffirms Market Leadership

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Dr. Lucas Durojaiye

Managing Director/CEO

Sovereign Trust Insurance Plc

Sovereign Trust Insurance Plc, one of Nigeria’s leading insurance companies has successfully met the new recapitalisation requirement for non-life insurance companies prescribed by the National Insurance Commission (NAICOM), under the Nigeria Insurance Industry Reform Act, (NIIRA) 2025. This feat has reinforced the Company’s financial strength and commitment to long-term growth.
The achievement marks another significant milestone in the Company’s journey of building a stronger, more resilient and future-ready insurance business, while positioning it to take advantage of emerging opportunities within Nigeria’s evolving insurance market.
Commenting on the development, the Managing Director/Chief Executive Officer of Sovereign Trust Insurance Plc, Dr. Lucas Durojaiye said the Company’s achievement reflects the confidence of its shareholders and stakeholders in its strategic direction and growth prospects.
In his words: “Meeting the new recapitalisation requirement is a significant milestone for Sovereign Trust Insurance Plc. It demonstrates the strength of our business, the confidence of our shareholders and our commitment to maintaining the highest standards of financial capacity and corporate governance.”
“We remain focused on delivering sustainable value to our policyholders, shareholders, brokers, agents and other stakeholders, while leveraging technology, innovation and customer-centric solutions to deepen insurance penetration across Nigeria.”
The Company noted that the recapitalisation milestone provides a stronger platform to support its strategic ambitions, enhance underwriting capacity and participate more effectively in opportunities across key sectors of the Nigerian economy.
According to the MD/CEO, the Company’s focus will remain on sustainable growth, prudent risk management, operational efficiency, digital transformation and superior customer experience, while maintaining a strong commitment to regulatory compliance. The achievement also underscores Sovereign Trust Insurance Plc’s confidence in the future of the Nigerian insurance industry and its determination to contribute meaningfully to the development of a stronger, more inclusive and resilient insurance sector.
Sovereign Trust Insurance Plc has over the years demonstrated an uncompromising stance on professionalism providing a broad range of general insurance solutions to individuals, businesses and institutions. The Company is committed to delivering innovative, reliable and customer-focused insurance solutions while creating sustainable value for all its stakeholders.

Leadway Assurance Unveils Nigeria’s First Multi-Generational Insurance Solution to Protect Families

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L-R: Niyi Abiola, Brand and Communications Manager, Leadway; Kikelomo Fischer, Executive Director, Retail, Sales and Partnerships; Olufunmilayo Amanwa, Executive Director, Technical and Operations, Leadway Assurance; Rosetta Aryeetey, Head, Life Underwriting and Life Business, Leadway Assurance; and Joseph Lawal, National Agency Coordinator, Leadway Assurance, during the Leadway Lifetime Plan in Lagos. 

Leadway Assurance, one of Nigeria’s leading insurance providers and a member of the Leadway Group, a foremost non-banking financial services and wellbeing conglomerate, has unveiled the Leadway Lifetime Plan, a one-of-a-kind whole-of-life insurance solution designed to extend financial protection beyond the immediate household to the wider family circle.

The newly introduced plan unveiled at a press briefing with the Nigerian Association of Insurance and Pension Editors (NAIPE), reinforces Leadway’s commitment to building lasting financial security, preserving wealth, and delivering meaningful, long-term protection for the people who matter most.

The Leadway Lifetime Plan responds to the increasingly complex financial responsibilities faced by many working adults, particularly members of the Sandwich Generation individuals who simultaneously provide financial support for ageing parents while raising children and planning for their future. With family responsibilities now extending beyond the traditional nuclear household, the Leadway Lifetime Plan is designed to offer broader, long-term protection that reflects the realities of modern Nigerian families.

Speaking on the new insurance plan, Olufunmilayo Amanwa, Executive Director, Technical & Operations, Leadway Assurance, said the product reflects the insurer’s recognition that family structures and financial responsibilities are evolving, and that insurance solutions must evolve with them.

“Financial responsibility no longer stops at the nuclear family. Today, one individual may be supporting children, a spouse, ageing parents, and in some cases, parents-in-law or siblings, all at once. That reality demands a different approach to protection. The Leadway Lifetime Plan was built around this reality. It gives customers a way to extend continuous protection to the extended family, ensuring the people who depend on them are covered, while also delivering meaningful benefits to policyholders within their own lifetime. This is the Leadway way, designing solutions that respond to how people actually live, not recycling old products with new names”

Beyond traditional life protection, the Leadway Lifetime Plan incorporates a range of living benefits designed to provide financial support during critical stages of life. Following five years of complete premium payment and subject to the policy terms, the policyholder and spouse may access up to 50 per cent of their current sum assured upon diagnosis of a covered critical illness. This benefit can provide valuable financial support at a time when a serious health event may place pressure on income, savings and overall household stability.

The plan also provides greater long-term financial flexibility. Eligible policyholders may access up to 50 per cent of the policy value for significant life goals after the premium payment term plus five years, subject to applicable policy conditions. While Leadway’s existing Family Benefit Plan provides family-focused whole-life protection, the Lifetime Plan has been developed as a more expansive, multi-generational solution that combines lifelong protection with financial value that can be accessed during the policyholder’s lifetime.

Explaining the thinking behind the product, Rosetta Aryeetey, Head, Life Underwriting and Life Business, Leadway Assurance said the solution was developed around the changing needs of customers. “The starting point for the Leadway Lifetime Plan was the customer. We looked closely at how families are structured today, how financial responsibilities are shared and the challenges customers face when they are responsible for several generations at the same time. What emerged was a need for a solution that does more than pay a benefit after death. Customers need protection for the people who depend on them, but they also need support when critical life events occur and flexibility as their financial priorities evolve.”

She added that the combination of multi-life protection, living benefits, long-term value and flexibility makes the Lifetime Plan relevant across different stages of a customer’s financial journey.

The plan also offers flexibility to enhance financial protection over time through an Escalation of Sum Assured feature. This allows customers to increase their benefits by a fixed percentage, giving them the flexibility to align their level of protection with their evolving financial needs and circumstances.

With the launch, Leadway Assurance is reinforcing its commitment to developing insurance solutions that respond to real-life needs while helping families build resilience, preserve financial stability and create lasting legacies.

 

About Leadway Assurance

Leadway Assurance is one of Nigeria’s foremost non-banking financial services groups, offering diversified solutions across insurance, pensions, health, and asset management. Founded in 1970, the company has built a legacy of trust and innovation, serving millions of individuals and businesses across Nigeria and West Africa.

 

Regency Alliance Insurance Completes Recapitalisation Milestone, Strengthens Capital Base, Positions for Sustainable Growth

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Regency Alliance Insurance Plc, one of Nigeria’s leading insurance companies, has successfully completed its recapitalisation exercise, marking a significant milestone in the company’s growth and transformation journey.

The successful completion of the recapitalisation reinforces the company’s financial strength, enhances its capacity to underwrite larger and more complex risks, and positions the company to pursue new opportunities while delivering sustainable value to its policyholders, shareholders and other stakeholders.

The exercise was undertaken in line with the recapitalisation requirements of the National Insurance Commission (NAICOM) and forms part of the company’s broader strategy to build a stronger, more resilient and future-ready insurance business.

Commenting on the milestone, the Managing Director of Regency Alliance Insurance Plc, Mr. Bode Oseni said: “The successful completion of our recapitalisation is a significant milestone for our company and a strong reflection of the confidence our shareholders and stakeholders have in our vision and future. We are grateful for their support throughout this journey.”

He added: “With a strengthened capital base, we are better positioned to deepen our market presence, enhance our capacity to serve our customers, embrace emerging opportunities and deliver sustainable long-term value. This milestone marks not an end, but the beginning of an even more ambitious chapter for Regency Alliance.”

The recapitalisation further demonstrates Regency Alliance’s commitment to sound corporate governance, regulatory compliance, financial resilience and long-term business sustainability.

Beyond strengthening the company’s capital position, the exercise provides a solid foundation for Regency Alliance to accelerate strategic initiatives across its business, improve customer experience, deepen innovation and technology adoption, and expand its contribution to the development of Nigeria’s insurance industry.

The company remains committed to its purpose of providing dependable insurance solutions that protect individuals, businesses and institutions against financial risks, while continuously evolving to meet the changing needs of its customers.

Regency Alliance Insurance Plc appreciates the National Insurance Commission (NAICOM), its shareholders, customers, employees, professional advisers, regulators and other stakeholders for their confidence, support and co-operation throughout the recapitalisation process.

With this milestone achieved, the company looks forward to the next phase of its journey with renewed strength, greater capacity and an unwavering commitment to excellence.

 

 

Guinea Insurance Completes Recapitalisation, Positions for Market Leadership, Next Phase of Growth

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Guinea Insurance Plc has successfully completed its recapitalisation exercise, with its capital position now above the ₦15 billion minimum capital requirement for non-life insurers, following the conclusion of the verification process by the National Insurance Commission (NAICOM).

The successful completion marks a defining moment in the company’s transformation and positions Guinea Insurance with the financial strength, underwriting capacity and strategic platform to compete more aggressively, pursue larger opportunities and play a leading role in Nigeria’s insurance market.

For Guinea Insurance, recapitalisation is not the destination. It is the platform for growth. The company is now focused on converting its enhanced capital position into greater underwriting capacity, stronger customer propositions, improved service delivery, strategic partnerships and sustainable market growth.

Commenting on the development, the Managing Director/Chief Executive Officer, Mr. Ademola Abidogun, said:

“Recapitalisation has given Guinea Insurance the strength to think bigger, compete harder and pursue opportunities with greater confidence. We have strengthened our capital; now we are focused on strengthening our position in the market.”

He added:

“Nigeria is a market of enormous opportunities, and Guinea Insurance intends to be at the forefront of capturing those opportunities. Whether it is supporting major corporates, SMEs, institutions or individuals, we are ready to provide the capacity, expertise and confidence that businesses need to grow.”

The completion of the recapitalisation also reinforces Guinea Insurance’s ambition to become a more competitive, innovative and customer-focused insurer, with increased capacity to participate in larger risks, develop relevant insurance solutions and deepen its relationships across the insurance value chain.

The company will build on this stronger foundation through disciplined underwriting, technology and innovation, operational excellence, robust risk management and a relentless focus on customer experience. It will also pursue strategic opportunities that expand its market reach and create sustainable value for shareholders and other stakeholders.

According to the company, the objective is clear: to turn capital strength into market strength.

Guinea Insurance expressed its appreciation to its shareholders, investors, policyholders, brokers, employees, business partners, regulators and other stakeholders whose confidence and support contributed to the successful completion of the recapitalisation exercise.

As Guinea Insurance enters its next phase, the company is looking beyond compliance and capital adequacy. It is preparing to compete for bigger opportunities, serve more customers, support more businesses and deliver greater value across the Nigerian economy.

Guinea Insurance is:

VERIFIED.

THE NEXT CHAPTER STARTS NOW.

More strength to build on. More capacity to deploy. More value to deliver.

AXA Mansard’s New Digital Tool to Make Vehicle Inspection Fast and Easy

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AXA Mansard Insurance, a member of the AXA Group, has announced the launch of its digital motor insurance inspection process in Nigeria. The solution, powered by Curacel, allows customers to complete required vehicle inspections by submitting photographs of their vehicles through their smartphones.

The process applies to the initiation of comprehensive motor insurance policies, policy renewals, and claims assessments.

‎This new feature further demonstrates AXA’s continued commitment to make the insurance process easy and personalized through digitization. The digital inspection system receives images submitted by customers, scans them through an automated review process, and generates inspection reports that are used within AXA Mansard’s existing underwriting and claims workflow

‎Commenting on the tool, Chizuru Nwankwonta, Chief Technology Officer, AXA Mansard Insurance, said: “At AXA Mansard, we continue to introduce solutions that make insurance processes easier and faster. This digital inspection option reduces the need for physical assessments and offers customers more flexibility in how they complete key steps in their motor insurance journey.”

‎The digital inspection system was developed in collaboration with Curacel, an insurance technology provider whose platform supports image submission, automated screening, and documentation processing. The integration is part of AXA Mansard’s approach to working with external technology partners on specific operational modules.

‎The digital inspection process is currently available nationwide. Customers will be able to access the feature through designated digital channels, including AXA Mansard’s customer platforms and links made available during motor insurance onboarding.

 

AXA Mansard Health’s WhatApp ChatBot, Karis, to Reduce Waiting Time at Hospital

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In an attempt to reduce waiting time and ensure prompt access to care at its over 2,000 partner health facilities nationwide, AXA Mansard Health, Nigeria’s leading Health Management Organisation has launched its WhatsApp bot, Karis.

‎By adding Karis to their WhatsApp contact, over three hundred thousand enrollees of AXA Mansard Health will now be able to obtain treatment approvals, confirm authorizations, check their plan status, access plan benefits, purchase health plans, and get prompt assistance during medical emergencies.

‎According to Tope Adeniyi, CEO AXA Mansard Health Limited, this new solution is another way the organisation seeks to express its customer first value. “It is another way we are using to tell our customers that we deeply care about them, and we stop at nothing to ensure access to healthcare is simple, affordable and convenient”, he said.

‎Adeniyi noted that the manual process of authorization before treatment has been a pain point, which could discourage people from wanting to want to go to the hospital. He explained that with Karis, authorization can now be done via a ubiquitous platform like WhatsApp.

‎“With this new solution, our enrollees at the point of care can experience our service speed. Also, they can quickly ask Karis what their plans cover or otherwise, so we have empowered them. They can now search for hospital or specialist healthcare by interacting with Karis. It’s about making healthcare personalised for our customers”, he noted.

‎He added that Karis is not just a tool, but part of a wider vision to ensure healthcare is accessible, personalized, and stress-free for everyone:

‎The introduction of Karis is part of AXA Mansard Health’s broader strategy to harness digital innovation to enhance service delivery and improve the overall customer experience. By streamlining access to healthcare support, the chatbot empowers our enrollees to focus on their well-being rather than be discouraged by the administrative hurdles.

‎Through initiatives like this, AXA Mansard Health continues to lead in digital healthcare solutions, making it easier for more Nigerians to manage their health and access timely care with confidence. “Karis demonstrates our organisation’s commitment to leveraging technology for practical solutions that simplify lives and improve healthcare outcomes”, Adeniyi concluded.

 

AXA Mansard, Lagos DSVA Intensify Campaign Against Domestic, Sexual Violence

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AXA Mansard has partnered with the Lagos State Domestic and Sexual Violence Agency (DSVA) to deepen awareness and prevention of domestic and sexual violence against children through community-based sensitisation campaigns across Lagos.

The initiative forms part of the 2026 AXA Week for Good themed, “Being A Child Shouldn’t Be A Risk,” aimed at improving public enlightenment, encouraging reporting of abuse cases and strengthening child protection mechanisms at the grassroots.

Under the partnership, employee volunteers of AXA Mansard Insurance Plc will embark on door-to-door community engagements in collaboration with the Lagos State Domestic and Sexual Violence Agency, which will provide technical support, training and guidance during the campaign.

The company said the programme builds on the success of its 2025 collaboration with the agency, which focused on school-based interventions to educate children and teachers on domestic and sexual violence.

Chief Marketing Officer of AXA Mansard, Adebola Surakat, said this year’s campaign is targeted at families, parents, caregivers and community leaders because statistics show that most abuse cases occur within homes and among people familiar to children.

According to her, over 60 per cent of domestic and sexual violence cases involving children are linked to people known to them, making community sensitisation critical in tackling the menace.

She said the initiative would cover six communities where volunteers would educate residents on identifying abuse, reporting channels and safe parenting practices.

Surakat noted that AXA Mansard has continued to invest in social advocacy against domestic and sexual violence because organisations must contribute to building safer societies where they operate.

She added that in 2025, about 96 per cent of the company’s employees dedicated at least 30 minutes of their working hours to volunteer activities focused on raising awareness against domestic and sexual violence.

Executive Secretary of the DSVA, Titilola Vivour-Adeniyi, said domestic and sexual violence thrives in silence, ignorance and fear, stressing the need for continuous public education and community engagement.

Vivour-Adeniyi commended AXA Mansard for sustaining the partnership, noting that safeguarding children requires collective action involving government, the private sector and members of the public.

She said taking advocacy directly into communities would empower parents and caregivers with the knowledge needed to identify warning signs, protect vulnerable children and report abuse cases promptly.

AXA Week for Good is the flagship programme under AXA Mansard’s employee volunteering initiative, AXA Hearts in Action, through which employees reportedly contributed over 20,000 volunteer hours in 2025.

 

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