The National Insurance Commission (NAICOM) has issued a license to CHI Life Assurance Limited.
The event took place at the Commission’s Board Room in Abuja on Monday, March 10, 2025.
Commissioner for Insurance, Olusegun Ayo Omosehin, warmly welcomed the CHI Life Assurance Ltd executives, urging them to make a positive impact in the industry. He assured them of NAICOM’s commitment to creating an enabling environment for operators to thrive.
Omosehin also emphasised the importance of compliance with regulatory requirements and advised the new management to always seek clarification from NAICOM.
He charged the Board of Directors to fulfill their roles, as they will be held accountable by the Commission.
Deputy Commissioner Technical, Usman Jankara, also congratulated the CHI Life Assurance executives and highlighted key areas of focus, including: adhering to regulatory rules and regulations, meeting capital requirements to avoid regulatory sanctions, efficiently managing risks, complying with anti-money laundering guidelines, ensuring fair treatment of consumers and simple claim settlement processes, and preparing for regular inspections by NAICOM.
This development is expected to enhance the insurance industry in Nigeria, and promote a stable and competitive market.
The highlight of the event was the presentation of the operation license to the Managing Director of the Company by the CFI.
