Capital Express Life Assurance Limited is rewriting its growth story.
Anticipating industry-wide recapitalisation, it increased shareholders’ fund by 53% from ₦9.22 billion to ₦14.11 billion in 2024.
Capital Express Boosts Fund
Fresh capital injection and stronger investment returns drove this surge, showing resilience amid uncertainty.
Strong Financial Performance
At its 24th Annual General Meeting, the company revealed how it overcame economic challenges at home and abroad.
Consequently, insurance revenue rose 32% to ₦7.2 billion, gross premium production reached ₦9.35 billion, and profit after tax hit ₦303 million.
Total assets rose 34% to ₦24.38 billion, and claims payout increased 44% to ₦3.97 billion.
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Innovation And Future Plans
Managing Director Mathew Ogwezhi outlined the company’s vision, focusing on technology and customer-focused innovation.
The company will launch a mobile app offering real-time policy access, seamless premium payments, and instant support.
It will also expand retail distribution and use data-driven insights to personalise service.
Ogwezhi added, “Our ambition is to make life insurance simple, accessible, and relevant to Nigerians.”
With a strengthened balance sheet, innovative strategy, and committed team, Capital Express Life plans to sustain growth and drive transformation throughout 2025.
