CHI urges brokers to drive insurance growth after recapitalisation
August 25, 2026 12:05 am
Consolidated Hallmark Insurance Limited, a subsidiary of Consolidated Hallmark Holdings Plc, has called for stronger collaboration between insurers and brokers as Nigeria’s insurance industry enters a new phase following the recapitalisation exercise.
The call was made at the South-South Brokers’ Professional Evening organised in partnership with the South-South Committee of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Port Harcourt.
Themed “Recapitalization: Aftermath and the Next Phase of Growth,” the event brought together insurance professionals and stakeholders to discuss how the industry can convert stronger capital positions into increased market penetration, improved service delivery and sustainable growth.
Opening the event, Chairman of the NCRIB South-South Committee, Amaka Ogebedaigo, welcomed participants and emphasised the importance of collaboration as the industry moves beyond the recapitalisation process.
The Managing Director and Chief Executive Officer of CHI, Mary Adeyanju, said recapitalisation had shifted the industry’s focus from survival to growth and value creation.
She said CHI was positioned to expand its business, embrace innovation and strengthen value delivery to customers and broker partners.
With professional brokers accounting for approximately 80 per cent of CHI’s business, Adeyanju said their role remained critical to the company’s growth strategy and efforts to deepen insurance penetration.
She also highlighted the company’s financial position, saying shareholders’ funds stood at N61bn as of July 2026, while total assets reached N91.9bn.
Insurance revenue stood at N28.4bn at the end of July and had risen to N33.6bn, while profit before tax and profit after tax at the end of the second quarter stood at N27.9bn and N27.4bn respectively.
The company had also paid N9.3bn in claims from January to date, while its surplus of assets over liabilities stood at N47.8bn and solvency margin at N35.6bn.
Adeyanju said the figures represented more than financial strength, noting that a stronger balance sheet should enable insurers to improve claims settlement, expand their markets, invest in technology and build greater confidence among policyholders.
She identified digital transformation as a major part of CHI’s growth strategy, citing investments aimed at making insurance transactions faster and easier for customers.
Among the initiatives are a free API-enabled Marine Insurance Portal for certificate generation, Curacel for motor inspections and claims processing, and TrustFort, an enterprise platform nearing deployment to improve operational efficiency.
The company is also redesigning its website to provide customers with a smoother digital journey from purchasing policies to processing claims.
Speaking on behalf of the Managing Director of CHI Life Assurance, Tope Ilesanmi, the Executive Director of CHI Life Assurance, Patience Ugboajah, said the group was focusing strongly on the retail market through digital channels and strategic partnerships with brokers.
She disclosed that CHI Life, which obtained its licence last year and officially launched in October, had already secured approvals for several retail products.
According to her, the company is working with brokers to develop their retail businesses, with Rent Secure among its key products.
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