From left: Head, Bancassurance & Client Proposition, Standard Chartered Bank Nigeria, Funmi Dosumu; Head, Wealth Solutions, Standard Chartered Bank Nigeria, Ernest Adejumo; Head, Wealth & Retail Banking, Standard Chartered Bank Nigeria, Lanre Olajide; Acting Chief Executive Officer, Standard Chartered Bank Nigeria, Ayodeji Adelagun; Executive Director, Prudential Zenith Life Insurance, Afolabi Lawal; Chief Commercial Officer, Prudential Zenith Life Insurance, Oluwatosin Adebayo-Yusuf; Chief Officer, Commercial, Strategy & Operations, Prudential Africa, Achumile Majija; and Regional Director, Operations & Strategic Partnerships, Prudential Africa, Vera Adomako-Nyantakyi, during the formal launch of the bancassurance partnership between Standard Chartered Bank Nigeria Limited and Prudential Zenith Life Insurance in Lagos.
Prudential Zenith Life Insurance and Standard Chartered Bank Nigeria Limited on Thursday announced the launch of a strategic bancassurance partnership to expand access to life insurance and financial protection across Nigeria.
This collaboration effort combines Prudential Zenith’s underwriting expertise with Standard Chartered’s banking network to deliver accessible protection solutions to a larger segment of the Nigerian population.
The partnership demonstrates a shared commitment to bridging the insurance gap and advancing financial inclusion by embedding access to insurance within everyday banking touchpoints. Through this alliance, Standard Chartered customers will have access to a range of life insurance products tailored to diverse life-stage needs, from individual protection to family security and education planning.
Speaking on the game-changing potential of this collaboration initiative, Afolabi Lawal, Executive Director and Chief Financial Officer, Prudential Zenith Life Insurance, remarked: At Prudential Zenith, we believe that financial inclusion is not only about access, but also about empowerment. This partnership with Standard Chartered Bank Nigeria Limited allows us to reach more Nigerians with products that are not exclusively protective but also aspirational. Whether it is safeguarding a child’s education or securing a family’s future, we are making life insurance more intuitive, affordable, and integral to every customer’s financial journey. Together, we are dismantling barriers while building a stronger, more resilient society.
Affirming this commitment, Ayodeji Adelagun, Acting Chief Executive Officer, Standard Chartered Bank Nigeria Limited, stated: This partnership with Prudential Zenith Life Insurance underscores our commitment to deliver financial solutions that enable and protect clients and their families. By deploying these essential insurance products into our banking services, we are improving our umbrella of wealth offerings and deepening financial inclusion in Nigeria. Our customers can now secure their futures with confidence, knowing that their wealth and legacy are protected.
The bancassurance relationship will offer customers a range of carefully selected products designed to deliver financial security and peace of mind. This partnership combines Standard Chartered Bank’s distribution network with Prudential Zenith Life Insurance’s underwriting expertise to make insurance more accessible, affordable and easier to manage for Nigerians, building on Prudential and Standard Chartered’s 27-year global relationship across 11 markets in Africa and Asia
About Standard Chartered Bank Nigeria Limited
Standard Chartered Bank re-entered Nigeria in 1999 as a wholly owned subsidiary of Standard Chartered PLC, a leading international banking group. Standard Chartered Nigeria offers a wide array of financial products and services spanning Corporate & Institutional Banking, Wealth
Management, and Transaction Banking. Operating from its ultra-modern Head Office in Victoria Island, Lagos, and primary hubs in Abuja and Port Harcourt, the Bank pairs a robust digital banking framework with local footprint optimisations to serve corporate clients and the emerging affluent segment.
The Bank remains anchored by deep financial stability, having comfortably met the Central Bank of Nigeria’s (CBN) ₦200 billion minimum capital requirement well ahead of the statutory deadline. Driven by its definitive global brand promise, ‘Here for good’, Standard Chartered Nigeria is committed to local sustainable development, sound international governance, and seamlessly connecting its clients to high-growth corridors across Asia, Africa, and the Middle East. For more information, visit https://www.sc.com.ng
About Prudential Zenith Life Insurance Ltd
Prudential Zenith Life is a fully owned subsidiary of Prudential plc, following Prudential plc’s acquisition of a 100% shareholding as of September 26th, 2024. It has become one of the most capitalised companies in the Nigerian insurance industry. With a Profit After Tax of ₦7.4 billion in FY 2024, Prudential Zenith Life offers a wide range of individual products, including savings and investment-linked products, endowment plans, and protection plans designed to meet the needs of individuals and their families. For corporate clients, the company provides Group Life, Key-Man Assurance, Credit Life, School Fees Protection, and Mortgage Protection, ensuring comprehensive coverage for the welfare of clients’ employees and families.
About Prudential plc
Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and the London Stock Exchange (LSE: PRU). It also has a secondary listing on the Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.
Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.
