Coronation Insurance Plc and Coronation Life Assurance Limited have successfully completed their recapitalisation through an oversubscribed private placement, strengthening their capital base and positioning both companies for their next phase of growth.
The successful capital raise reflects strong investor confidence in the companies’ strategy, governance and long-term prospects. It also enables both businesses to meet the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The private placement involved the issuance of 4.2 billion ordinary shares and attracted strong investor demand, underscoring confidence in the businesses’ long-term growth strategy and disciplined execution.
With a strengthened capital position, Coronation Insurance and Coronation Life Assurance are well positioned to accelerate product innovation, digital transformation and customer experience initiatives, while expanding distribution and deepening their presence across the Nigerian insurance market.
The additional capital will also support the continued growth of the companies’ bancassurance partnership with Access Bank, extending access to insurance solutions through one of Nigeria’s largest banking networks.
