CHI URGES BROKERS TO DRIVE INSURANCE GROWTH AFTER RECAPITALISATION

Consolidated Hallmark Insurance Limited has urged insurance brokers to play a stronger role in expanding insurance coverage and driving growth as Nigeria’s insurance industry moves into 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 in Port Harcourt. The event focused on how the industry can translate stronger capital positions into greater market penetration, improved service delivery and sustainable growth.

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 noted that professional brokers remained central to the company’s growth strategy, accounting for approximately 80 per cent of CHI’s business.

Adeyanju said the company’s stronger financial position would provide greater capacity to improve claims settlement, expand its market, invest in technology and strengthen confidence among policyholders.

As of July 2026, CHI’s shareholders’ funds stood at ₦61 billion, while total assets reached ₦91.9 billion. The company also reported insurance revenue of ₦33.6 billion and said it had paid ₦9.3 billion in claims from January to date.

She said technology would remain an important part of CHI’s growth strategy, highlighting its investments in digital platforms designed to make insurance transactions faster and more efficient.

These include an API-enabled Marine Insurance Portal for certificate generation, Curacel for motor inspections and claims processing, and TrustFort, an enterprise platform nearing deployment.

CHI Life Assurance is also focusing on expanding retail insurance through digital channels and partnerships with brokers.

Adeyanju urged brokers to use the opportunities created by recapitalisation to deepen insurance penetration, strengthen customer relationships and develop new markets.

She said stronger collaboration between insurers and brokers would be essential to ensuring that the industry’s improved capital base translates into wider coverage, better services and sustainable growth.