Capital Express Life Assurance Limited posted revenue of 14.11 billion naira for 2024, marking a 53 percent jump from 9.22 billion naira the previous year as capital investments and returns from financial holdings drove expansion. Insurance revenue climbed 32 percent to 7.2 billion naira while gross premium collections reached 9.35 billion naira during the 12 months ending December 31. The firm generated 303 million naira in after-tax earnings and expanded total assets by 34 percent to 24.38 billion naira. Claim disbursements rose 44 percent to 3.97 billion naira from 2.76 billion naira in 2023.
Board Chairman Ademola Adenuga credited management and employees for navigating currency instability, rising prices and volatile oil markets during the company's annual shareholder meeting held in Lagos. Chief Executive Mathew Ogwezhi said the insurer will introduce an enhanced mobile platform allowing policyholders real-time account access, streamlined premium transactions and immediate service assistance. The company intends to broaden retail sales channels and deploy analytical tools for better customer understanding and tailored offerings. Ogwezhi stated the objective centers on making life protection products more available and transparent to Nigerian consumers through technology-driven simplification and consistent value.
Board Chairman Ademola Adenuga credited management and employees for navigating currency instability, rising prices and volatile oil markets during the company's annual shareholder meeting held in Lagos. Chief Executive Mathew Ogwezhi said the insurer will introduce an enhanced mobile platform allowing policyholders real-time account access, streamlined premium transactions and immediate service assistance. The company intends to broaden retail sales channels and deploy analytical tools for better customer understanding and tailored offerings. Ogwezhi stated the objective centers on making life protection products more available and transparent to Nigerian consumers through technology-driven simplification and consistent value.
