emPLE Strengthens Capital Base, Targets Deeper Insurance Market

By LOVETH -AZODO CHIJIOKE, Lagos

emPLE Nigeria has strengthened its capital position following its inclusion on the list of companies published on the official website of the National Insurance Commission (NAICOM) after the conclusion of the insurance industry recapitalisation exercise.

The development, according to the company, provides a stronger financial foundation for its Life and General Insurance businesses as it seeks to expand its market reach, meet customer obligations and pursue new growth opportunities.

The company said the strengthened capital position also reinforces its ability to remain a long-term partner to individuals, families and businesses.

Highlighting its commitment to policyholders, emPLE disclosed that its Life and General Insurance subsidiaries paid more than ₦7 billion in claims in 2025, describing the payments as part of its track record of supporting customers when they need it most.

Speaking on the development, the Managing Director, emPLE General Insurance Limited, Olalekan Oyinlade, said the significance of the recapitalisation goes beyond meeting a regulatory requirement, as it provides the capacity to strengthen customer confidence.

“Meeting the recapitalisation requirement is important, but what matters most to us is what that strength enables us to do for our customers,” he said.

According to him, insurance is built on the confidence that an insurer has both the capacity and commitment to respond when unexpected events occur.

He added that the continued confidence of shareholders and investors reflects the strength of the business, its leadership and the long-term opportunities in Nigeria’s insurance market.

Also speaking, the Managing Director, emPLE Life Assurance Limited, Jolaolu Fakoya, said the company’s focus remained centred on the responsibility it carries towards customers who entrust their families, businesses, assets and aspirations to the insurer.

He said the stronger capital position would provide greater capacity to deepen customer confidence and develop insurance solutions that respond to the protection needs of Nigerians.

Fakoya said the company’s ambition for the next decade extends beyond becoming financially stronger, noting that it also seeks to make insurance simpler, more accessible and more relevant to Nigerians.

He identified customer experience, digital innovation, stronger partnerships and the development of relevant products as areas the company intends to focus on.

The company said the latest development reinforces the importance of financial strength, claims-paying capacity and customer trust as it positions for its next phase of growth.

With the recapitalisation milestone behind it, emPLE said it would remain focused on building a customer-centred insurance business while expanding its capacity to protect and empower Nigerians.