Leadway Assurance Ltd. says its post-recapitalization strategy will focus on digital growth, expanded underwriting capacity and stronger commitment to policyholders.
The company disclosed this in a statement on Sunday following the successful completion of its recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
It said the recapitalisation had strengthened its capacity to underwrite larger and more complex risks, support financial inclusion and contribute to Nigeria’s economic development.
According to the insurer, its post-recapitalization growth strategy will focus on three key areas: high-net-worth individuals and premium customers; critical sectors and infrastructure; and digitally driven Nigerians and small business owners.
It said the stronger capital base would enable it to provide tailored insurance solutions to high-net-worth individuals, whose growing wealth and increasingly complex assets require specialised services.
Leadway said it was also positioned to support major public and private-sector projects, including investments in energy, manufacturing and other large-scale enterprises, through increased risk-underwriting capacity.
The company said it would also target young Nigerians, entrepreneurs and small business owners who increasingly expect convenient and digitally enabled financial services.
The insurer said its digital focus aligned with the National Insurance Commission’s (NAICOM) drive to accelerate digitalisation and deepen financial inclusion in the insurance sector.
It said its expanded capacity would enable it to support infrastructure projects and deepen enterprise insurance coverage across sectors, including finance, energy, agriculture and technology.
Mr Gboyega Lesi, Chief Executive Officer of Leadway Assurance, said the company had spent the past several years strengthening its technical capabilities, digital infrastructure, and strategic positioning.
“We have spent the last several years building a business that is technically stronger, digitally tuned and strategically positioned to serve Nigeria at a level this industry has not seen before.
“What recapitalisation gives us is the impetus to pursue that ambition at full scale, underwriting the risks that matter to Nigeria’s biggest enterprises, designing products that speak to a generation that will drive this economy, and honouring every commitment we have made to our policyholders,” he said.
Lesi said Leadway’s new phase was driven by its readiness to operate at greater scale rather than solely by regulatory requirements.
He commended NAICOM for providing a clear and forward-looking regulatory framework, saying it would promote discipline and strengthen confidence in the insurance market.
Leadway Assurance, a member of the Leadway Group, has operated in Nigeria for more than 55 years, providing life and general insurance as well as other financial protection services.
