By Niyi Jacobs
The National Insurance Commission (NAICOM) has officially granted an operational license to CHI Life Insurance Company, enabling the firm to commence life insurance operations in Nigeria.
The presentation ceremony took place at NAICOM’s headquarters, with top industry stakeholders in attendance.
The license was presented by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, and received by Mr. Eddie Efekoha, Chairman of CHI Life Insurance Company. Also present were Mrs. Olutope Bamidele, Managing Director of CHI Life, and Dr. Usman Jankara, Deputy Commissioner for Insurance Technical.
Speaking at the ceremony, Mr. Omosehin commended CHI Life for meeting all regulatory requirements and expressed confidence that the company would contribute positively to the growth and stability of Nigeria’s insurance sector. He noted that the expansion of life insurance operations in the country would enhance financial inclusion and provide more Nigerians with access to risk management solutions.
Mr. Efekoha, the Chairman of CHI Life, expressed appreciation to NAICOM for the approval, describing it as a significant milestone for the company. He affirmed CHI Life’s commitment to delivering innovative and customer-centric life insurance solutions to the Nigerian market.
Mrs. Olutope Bamidele, Managing Director of CHI Life, pledged that the company would adhere to high standards of professionalism and ethics while providing quality insurance products designed to meet the diverse needs of Nigerians.
With the license approval, CHI Life Insurance Company is now poised to expand its portfolio and deepen insurance penetration across Nigeria, particularly in the life insurance segment.
