By Bisi Bamishe
CHI Life Assurance Limited, a subsidiary of Consolidated Hallmark Holdings Plc, has reaffirmed its financial strength and long-term commitment to policyholders following its successful compliance with the National Insurance Commission’s (NAICOM) recapitalisation requirements.
The achievement positions the company among Nigeria’s financially strong and well-capitalised life insurance companies, demonstrating its readiness to deliver sustainable value, honour policyholder commitments and support the continued growth of the Nigerian insurance industry.
With a solid financial foundation and an expanding customer base, CHI Life Assurance continues to strengthen its position as a trusted provider of life insurance solutions for individuals, families, SMEs and corporate organisations.
Today, CHI Life Assurance stands on a solid financial foundation with Shareholders’ Fund of ₦11.2 Billion, Total Assets of ₦13.7 Billion, Claims Paid of ₦224 Million, and a Solvency Margin of 110%. These indicators underscore our ability to honour claims promptly and provide sustainable financial protection to individuals, families and businesses.
These financial indicators reflect CHI Life Assurance’s capacity to meet long-term obligations, settle valid claims promptly, protect policyholders’ financial futures and pursue sustainable growth opportunities.
Commenting on the milestone, the Managing Director/Chief Executive Officer of CHI Life Assurance Limited, Tope Ilesanmi, described the successful recapitalisation as a defining moment in the company’s growth journey.
“Our successful recapitalisation is a clear demonstration of our shareholders’ confidence, our disciplined growth strategy and our unwavering commitment to building a life insurance company that customers can depend on for generations. It strengthens our financial capacity to innovate, expand our reach and deepen our promise of protecting lives and securing futures. As we continue to grow, we remain committed to delivering exceptional customer experience, prompt claims settlement and sustainable value to our policyholders, brokers and all stakeholders.”
Also speaking on the development, the Executive Director, Operations, Patience Ugboajah, said the recapitalisation and successful portfolio integration demonstrate the company’s operational readiness and customer-focused culture.
“Financial strength must always translate into an exceptional customer experience. Our continued investment in people, technology and operational efficiency has positioned us to deliver seamless service while maintaining the highest standards of excellence. We remain committed to providing responsive customer support, efficient policy administration and prompt claims settlement. Our goal is to build a life assurance company where every customer feels valued, protected and confident about the future.”
CHI Life Assurance expressed appreciation to its customers, brokers, corporate clients and business partners for their continued trust and support, noting that the successful recapitalisation and strategic portfolio expansion represent significant milestones in its vision to become one of Nigeria’s most respected and customer-centric life insurance companies.
As the Nigerian insurance industry enters a new era of stronger capitalisation and enhanced resilience, CHI Life Assurance Limited remains well-positioned to deliver innovative protection solutions, build enduring customer relationships and contribute meaningfully to increasing insurance penetration across Nigeria.
About Us:
CHI Life Assurance Limited is a Subsidiary of Consolidated Hallmark Holdings Plc. The Company is licensed by the Insurance Regulator, the National Insurance Commission (NAICOM) and fully capitalized to the tune of N10 Billion in line with regulatory requirements. CHI Life formally commenced business transactions with the granting of operational license on 10th March 2025 with the primary focus of driving a very professional insurance institution using technology to deepen insurance penetration in Nigeria.
