Enterprise Life Assurance Company (Nigeria) Limited, a few months after receiving its operating licence from the National Insurance Commission (NAICOM), has opened its doors to the general public. It will be recalled that in November 2020 the company, which is a subsidiary of Enterprise Group PLC with headquarters in Ghana, was one of the few to be granted licence to operate by the regulator.
Speaking at the opening of its office in Ikoyi, Lagos, Mrs. Funmi Omo-Managing Director, expressed confidence that the unique solutions offered by Enterprise Life will appeal to the large population of uninsured Nigerians, who till date have not experienced the peace of mind offered by insurance. She further disclosed that the aim of Enterprise Life is to expand the insurance net in Nigeria by offering innovative and relevant life insurance solutions, using a needs-based approach to sales.
Group Managing Director-Enterprise Group, Mr. Keli Gadzekpo, stated that while he is proud of the many successes chalked up in Ghana and The Gambia by the Enterprise Group PLC over the years, there is something especially exciting about entering the Nigerian market. It not only allows the Group to increase its international footprint, but also gives an opportunity for Nigerians to truly benefit from the financial security that life insurance offers.
Furthermore, he explained, since life insurance plays a unique role in multi-generational wealth creation and preservation, life insurance in Nigeria – the most populous nation in Africa, has great potential to act as a catalyst of change to end the cycle of intergenerational poverty in Africa.
Opening the new office makes Nigeria the third West African country to have Enterprise Life’s business footprint.
The company, which is headquartered in Ghana, is a subsidiary of Enterprise Group PLC. With roots dating back to 1924, Enterprise Group PLC is a publicly listed blue-chip financial services company whose subsidiaries are each market leaders in their fields of life insurance, general insurance, pensions, funeral services and real estate.
Enterprise Life is a member of the Enterprise Group with footprints in Ghana, the Gambia, and Nigeria. The Enterprise Group has a strategic partnership with Black Star Holdings Limited (BSHL), a wholly-owned subsidiary of Leapfrog Strategic African Investments (LSAI), which is a separate account managed by Leapfrog Investments, and in which Prudential Financial, Inc., USA (PFI) is the primary investor.