Coronation Insurance targets larger insurance risks after N9.2 billion additional capital boost

Coronation Insurance Plc has raised N9.2 billion in additional capital during the insurance sector recapitalisation exercise, targeting larger insurance risks after the funding. Managing Director and CEO Olamide Olajolo disclosed that only N1.3 billion of the funds raised was required for the life business to achieve full recapitalisation, leaving the company with increased capacity to pursue larger risks.

The stronger capital position will also support technology investments, deeper penetration of underserved markets and SMEs, and expansion through digital channels and new products.

Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.