Enterprise Life Exceeds Recapitalisation Requirement, Rules Out Merger Plans

Enterprise Life Assurance (Nigeria) Limited has announced that it has fully met the recapitalisation requirements set by regulators and will not pursue any merger or acquisition as part of its growth strategy.

Managing Director and Chief Executive Officer, Nelson Akerele, disclosed this recently in Lagos that the company’s paid-up share capital has risen to over N18.7 billion,  surpassing the minimum capital requirement.

According to him, the company’s parent group in Ghana bridged the capital gap, while PricewaterhouseCoopers (PwC) has been appointed to carry out capital verification.

Akerele said the insurer intends to leverage its strengthened capital position to expand market opportunities, increase capacity and deepen customer partnerships as the industry moves into the post-recapitalisation era.

On Post-Recapitalisation Growth, he said the company is positioning itself for growth through digital innovation after successfully meeting recapitalisation requirements.

He noted that  the company has operated as a digital-first insurer since its inception five years ago and plans to deepen technology adoption across its operations.

He noted that the insurer is partnering with insurtech firms and other technology-driven organisations to expand distribution channels and improve customer experience.

Akerele said the company’s digital strategy aligns with the regulator’s push for greater digitalisation in the insurance sector and will provide a competitive advantage in the evolving market.