ENTERPRISE LIFE TARGETS BIGGER ROLE IN NIGERIA’S INSURANCE MARKET

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**Enterprise Life Assurance Nigeria Limited** is stepping up its expansion plans as it seeks to take a larger share of Nigeria’s underinsured market, backed by a stronger capital base and increased investment in digital insurance solutions.

The insurer’s paid-up share capital has risen to more than **₦18.7 billion**, significantly above the **₦10 billion minimum capital requirement** set by the National Insurance Commission for life insurers under its recapitalisation programme.

The stronger balance sheet is expected to give Enterprise Life greater capacity to underwrite larger risks, enter new markets, and expand its technology-driven insurance offerings.

The company said it will focus particularly on Nigeria’s **middle-class and mass-market segments**, where insurance coverage remains relatively low.

Enterprise Life said the capital increase goes beyond meeting regulatory requirements, describing it as a foundation for building a stronger and more innovative insurance business.

Industry analysts said increased capitalisation could help insurers improve their capacity, develop new products, and reach more Nigerians through digital platforms.

The development comes as Nigeria’s insurance industry works to deepen penetration and build stronger companies capable of supporting individuals, businesses, and the wider economy.