Enterprise Life strengthens capital base to N18bn

Enterprise Life Assurance Nigeria Limited has increased its paid-up share capital to over N18.7 billion, surpassing the N10 billion regulatory minimum set by the National Insurance Commission (NAICOM). The company's new operational licence was presented to Chief Executive Officer Nelson Akerele in Abuja, attended by industry leaders and other stakeholders.

This milestone capital raise positions Enterprise Life to underwrite larger risks and deepen digital penetration in Nigeria's underinsured market. The additional capital provides the company with operational headroom that few peers can match, enabling it to write larger risks, expand into new markets, and accelerate technology-led insurance offerings.

Enterprise Life's focus now shifts to translating financial strength into products and services for customers. The company's parent company, Enterprise Group Ghana, supported the capital raise, which PricewaterhouseCoopers independently verified. CEO Akerele framed the development as a launchpad, emphasizing the company's commitment to sustained investment in technology, partnerships, and customer-centric solutions to make insurance more accessible, relevant, and easier for Nigerians.