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.

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The Managing Director and Chief Executive Officer of the company, Nelson Akerele, disclosed this during a recent media briefing while addressing the firm’s capital positioning and compliance with the National Insurance Commission (NAICOM).

According to Akerele, Enterprise Life—which entered the Nigerian market approximately five years ago alongside peers like Heirs General and Heirs Life—has progressively built on its foundational capital structure to satisfy current regulatory thresholds.

“We started with ₦8 billion,” Akerele stated, recalling the company’s entry as one of the four entities licensed in that licensing wave. “What we have as a statutory deposit right now, as I speak, is ₦1 billion, which has been fully remitted to the designated account assigned to us.”

Beyond meeting the statutory deposit mandate, the Enterprise Life boss revealed that the company has fully satisfied its Minimum Capital Requirement (MCR).

He attributed this seamless compliance to a deliberate operational strategy that favors liquid assets over heavy fixed investments.

Unlike traditional players with massive capital tied up in real estate, Enterprise Life has maintained an agile, cash-ready balance sheet.

“We are not heavy in terms of buildings and all that; our assets are held in liquid form—in cash and cash equivalents,” Akerele emphasized. “We are an extremely liquid company.”

This cash-heavy asset strategy positions the insurer to promptly meet its obligations, match underwriting risks effectively, and settle policyholders’ claims without the delays often associated with liquidating physical property.

The announcement comes at a critical time when NAICOM continues to emphasize stricter solvency and liquidity management across the Nigerian insurance ecosystem to boost public confidence in the sector.

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