The Capital Express Group recently marked a significant milestone in its corporate journey with the formal unveiling of its restructured insurance arm, the Capital Express Insurance Group, in Lagos, Nigeria. This strategic move signifies a new era for the company, characterized by an expanded service portfolio, a refreshed brand identity, and a reinforced commitment to innovation and customer-centricity within the Nigerian insurance landscape. The unveiling event served as a platform to introduce the two core entities comprising the newly formed Group: Capital Express Life Assurance Limited, formerly known as Capital Express Assurance Limited, and the newly launched Capital Express Indemnity Insurance Limited. This restructuring positions the Group to offer a comprehensive suite of insurance solutions, specializing in both life and general insurance, thereby catering to a wider spectrum of client needs.
The driving force behind this transformation, as articulated by the Group Chairman, Anthony Aletor, is the ambition to deliver cutting-edge insurance solutions while upholding the company’s foundational principles of integrity, customer satisfaction, and innovation. This strategic restructuring underscores the Group’s dedication to not only adapting to the evolving demands of the insurance market but also proactively shaping its future trajectory. The establishment of two distinct entities, specializing in life and general insurance respectively, allows for a more focused approach to product development, risk management, and customer service, ultimately enhancing the value proposition offered to clients.
The significance of the Capital Express Insurance Group’s launch was further emphasized by the presence of a representative from the National Insurance Commission (NAICOM), Dr. Julius Odidi, who spoke on behalf of the Commissioner for Insurance, Olusegun Omosehin. Dr. Odidi commended the Group’s leadership for their visionary approach and unwavering commitment to driving growth within the Nigerian insurance sector. He highlighted the crucial role the newly formed Group is expected to play in deepening insurance penetration across the country, expressing confidence in its potential to reshape the industry’s landscape. This recognition from the regulatory body underscores the Group’s strategic importance and its potential to contribute significantly to the development of the insurance market in Nigeria.
Mathew Ogwezhi, Managing Director/Chief Executive Officer of Capital Express Life Assurance Limited, echoed the Chairman’s sentiments, emphasizing that the rebranding is more than a cosmetic change; it represents a renewed commitment to value creation for clients and stakeholders. The transition to Capital Express Life Assurance Limited signifies a strengthening of the company’s focus on life insurance products and services, enabling them to better cater to the long-term financial security needs of their clients. Together with Capital Express Indemnity Insurance Limited, the Group now possesses a more robust and diversified platform to deliver innovative solutions and lead the insurance industry into the future.
Adewale Koko, Managing Director/Chief Executive Officer of Capital Express Indemnity Insurance Limited, further underscored the strategic rationale behind the Group’s restructuring. He highlighted the importance of the new entity, Capital Express Indemnity Insurance Limited, in providing comprehensive and innovative general insurance solutions. This strategic move allows the company to focus specifically on the diverse needs of clients seeking protection against various risks, including property damage, liability, and other unforeseen events. By adopting a client-centric approach and offering personalized, responsive services, Capital Express Indemnity Insurance Limited aims to differentiate itself within the competitive general insurance market.
The formation of the Capital Express Insurance Group signifies a bold step towards achieving the company’s ambitious goals. By combining specialized expertise in both life and general insurance under a unified brand, the Group is well-positioned to capture a larger market share and enhance its brand recognition. The emphasis on innovation, customer satisfaction, and personalized service delivery, coupled with the regulatory endorsement, sets the stage for the Capital Express Insurance Group to become a leading force in the Nigerian insurance industry. The Group’s strategic restructuring not only strengthens its operational capabilities but also reinforces its commitment to driving excellence and shaping the future of insurance in Nigeria. This transformative journey promises to deliver enhanced value to clients, stakeholders, and the insurance industry as a whole.
