Follow Us on Google
The Managing Director/Chief Executive Officer of Consolidated Hallmark Insurance Limited, Mary Adeyanju, has said that improved financial capacity alone will not change Nigerians’ negative perception of the insurance industry, urging operators to rebuild public trust through prompt claims settlement, transparency and better service delivery.
She explained the sector’s credibility crisis goes beyond capital strength, stressing that insurers must demonstrate genuine commitment to policyholders if they hope to win public confidence and deepen insurance penetration across the country.
In this interview, she reassured stakeholders of the Company’s readiness to deliver on its mandate.
Having successfully recapitalised, what is the next big strategic priority for your company?
Our next strategic priority is to translate our stronger capital base into tangible benefits for policyholders and build greater public confidence in insurance. Capital alone does not create demand or earn trust; what matters is how effectively we deploy it to improve the customer experience. We are therefore focused on faster claims settlement, simpler and more accessible insurance products, stronger digital engagement, and strategic partnerships with banks and agents. Ultimately, our goal is to ensure that our enhanced financial capacity translates into wider insurance coverage, improved service delivery and greater value for our customers.
With stronger financial strength, how will you translate this stronger capital base into tangible benefits for policyholders?
The real value of recapitalisation lies in the benefits policyholders experience. With a stronger capital base, we can retain more risks locally, underwrite larger exposures and strengthen our capacity to meet claims obligations confidently.
We are also investing in technology and human capital to simplify policy onboarding, improve claims processing and make our services more transparent and efficient. In addition, we are developing products that respond to the evolving needs of Nigerians and expanding access through partnerships with banks, agents and other distribution channels. Ultimately, our success will not be measured by the size of our capital alone, but by our ability to deliver reliable protection, settle genuine claims promptly and earn the lasting trust of our policyholders.
Can recapitalisation alone solve the insurance industry’s low penetration and public-trust problems? If not, what else must change?
No, recapitalisation alone cannot resolve the insurance industry’s low penetration and public-trust challenges. While it strengthens insurers’ balance sheets and enhances their capacity to retain more risks locally, capital alone cannot create demand or change negative public perceptions about insurance. Many Nigerians still do not fully appreciate the value of insurance, and this perception will not change simply because insurers have stronger financial positions.
What must change is the customer experience and the way insurance products are designed, distributed and delivered. We need prompt and transparent claims settlement, affordable and easy-to-understand products, and wider distribution through bancassurance, agents and digital channels.
Equally important is consistent professional conduct across the industry and stronger collaboration among insurers, brokers, regulators and professional bodies such as the Chartered Insurance Institute of Nigeria (CIIN). Recapitalisation provides the financial capacity to do more, but trust and effective service delivery will determine how successfully that capacity is translated into increased insurance penetration and greater public confidence. Ultimately, Nigerians must see and experience the value of insurance before they can fully embrace it.
What specific measures is CHI taking to rebuild public trust and confidence?
At CHI, we believe trust is earned through performance, and claims settlement is one of the clearest demonstrations of an insurer’s commitment to its policyholders. We have paid more than N9.3 billion in gross claims so far in 2026, underscoring our commitment to meeting our obligations to customers. We are also continuously improving our claims management processes to ensure that policyholders receive timely support when they need it most. Beyond claims settlement, we are investing in technology, human capital and service delivery to make our processes faster, more efficient and more transparent. We are also strengthening customer engagement, particularly through digital platforms, to make insurance more accessible and help Nigerians better understand the protection it offers. Our stronger capital position further enhances our capacity to underwrite larger risks and develop products that address customers’ evolving needs. Above all, our commitment is to communicate honestly, treat policyholders fairly and settle genuine claims promptly. We believe consistent delivery on these commitments is the most effective way to rebuild public confidence in insurance.
Investors and other strategic partners expect returns on investment. How will CHI balance aggressive business expansion with prudent underwriting and risk management?
For us, growth and discipline must go hand in hand. Expansion that compromises underwriting quality or weakens our loss ratio is not sustainable growth.
Our stronger capital base gives us greater capacity to underwrite larger risks and retain more of them, but every risk must still be carefully assessed, appropriately priced and managed within our risk appetite. We will concentrate on business segments where we have the requisite expertise, reliable data and technical capacity to deliver sustainable returns. Our decisions will be guided by sound underwriting principles and effective corporate governance rather than pressure to achieve short-term results.
We are also investing in technology, data analytics and skilled personnel to improve risk assessment, strengthen underwriting decisions and enhance operational efficiency. In addition, we will maintain a balanced portfolio, diversify our distribution channels and use reinsurance strategically to manage exposures. While delivering value to shareholders remains important, sustainable returns depend on maintaining financial strength, honouring genuine claims and building lasting customer relationships. That is the balance we intend to maintain as we pursue our post-recapitalisation growth strategy.
What new classes of risks or sectors can CHI now underwrite or retain more confidently?
Our stronger capital position enhances our capacity to underwrite and retain larger risks across several sectors, particularly aviation, oil and gas, marine cargo and hull, and engineering. Other classes, including motor, bonds and agriculture, also present opportunities for growth.
However, increased capital does not translate into an unlimited appetite for risk. As the industry moves towards a risk-based capital framework, insurers must ensure that their capital adequately reflects the risks they assume. Every large or complex exposure must therefore be carefully assessed to determine whether it aligns with our risk appetite and overall portfolio strategy. We will continue to prioritise appropriate risk pricing, portfolio diversification and strategic reinsurance arrangements to manage significant exposures. We are also strengthening our capabilities in data analytics, underwriting and risk management to support informed decision-making. Our objective is to expand our participation across key sectors of the Nigerian economy responsibly, while maintaining the financial resilience required to meet our obligations to policyholders.
How far would your new strength drive technology, particularly in claims processing, underwriting and customer service?
Technology is central to our post-recapitalisation strategy because it can improve operational efficiency, strengthen underwriting discipline and enhance the customer experience. Rather than assigning it a specific percentage, we see technology as an enabler across virtually every aspect of our operations. In claims management, we are focused on digitising processes to improve claims submission, assessment, communication and settlement. This is particularly important because claims handling is one of the most significant ways insurers demonstrate their value to customers. In underwriting, better data and analytics will support more accurate risk assessment, appropriate pricing and more effective portfolio management. For customer service, digital channels and improvements to our service operations will make it easier for policyholders to reach us, obtain information and receive timely assistance.
However, technology cannot replace professional expertise and sound judgement. We are therefore investing in both technology and human capital to ensure that innovation translates into better service delivery, stronger risk management and sustainable business performance.
When should policyholders begin to see measurable improvements in claims turnaround time?
Our policyholders should not have to wait for a distant milestone before experiencing improvements in claims turnaround time. We are already working to improve the efficiency of our claims processes, and our stronger capital position, combined with continued investments in technology and operational capabilities, will support further progress. Straightforward claims with complete documentation should benefit from improvements in digital processing, assessment and communication. More complex claims may require additional time for investigation and verification, depending on their nature and circumstances. Rather than promise a blanket timeline that may not reflect the requirements of every claim, we are focused on achieving measurable improvements, communicating clearly with policyholders and keeping them informed throughout the claims process. Our commitment is to monitor turnaround times, address avoidable delays and continually improve our processes to ensure that genuine claims are handled fairly, transparently and as promptly as possible. Ultimately, we want our customers to experience these improvements directly through more efficient and reliable service.
What specific products are available for SMEs, low-income earners and Nigerians outside the formal-sector insurance net?
Expanding insurance access requires us to understand the realities of individuals and businesses that remain underserved. For many Nigerians, insurance still appears complicated, expensive or disconnected from their everyday needs. Our approach is therefore to focus on developing solutions that are simple, affordable, accessible and relevant to their circumstances. For small and medium-sized enterprises (SMEs), this means offering practical insurance solutions that address risks capable of disrupting business operations, including fire, theft, goods in transit and liability. Flexible premium payment arrangements can also make coverage more accessible to businesses with limited cash flow. For low-income earners, the priority is to provide affordable products with straightforward terms, manageable premiums and clearly defined benefits. We also recognise the importance of reaching these customers through channels they already use, including agents, digital platforms and other distribution partnerships. Equally important is explaining policy benefits in plain language and ensuring that genuine claims are processed efficiently. Our objective is to remove barriers to insurance adoption and demonstrate that insurance is not merely a financial product, but a practical means of protecting livelihoods, sustaining businesses and building financial resilience.
What is the role of brokers in the post-recapitalisation era?
We expect the broker channel to remain a critical pillar of our business and become even more important in the post-recapitalisation era. Brokers serve as an essential link between insurers and customers, providing professional advice, assessing clients’ risk exposures and helping them secure appropriate insurance protection. With greater underwriting capacity, we can work more closely with brokers to support clients with larger and more complex risks. Their expertise in risk assessment, structuring insurance solutions and placing cover will be particularly valuable as businesses seek more comprehensive protection. I also expect the channel to become increasingly technology-driven and service-oriented, with improved access to information and more efficient claims support. Brokers will also have opportunities to strengthen their advisory role by helping clients understand emerging risks and make informed insurance decisions. At CHI, we are committed to strengthening our relationships with brokers through responsiveness, transparency and reliable service delivery. We recognise that brokers stake their professional reputations on the insurers they recommend. By consistently delivering on our promises to policyholders, we also strengthen the confidence brokers place in us.
Will stronger capital change your risk appetite for major infrastructure, energy, aviation, agriculture and other high-value risks?
Yes, our stronger capital base enhances our capacity to participate in high-value risks across infrastructure, energy, aviation and agriculture. It also creates opportunities for insurers to retain more risks locally, deepen domestic underwriting capacity and reduce dependence on foreign reinsurance markets where appropriate. However, greater financial capacity must be matched by disciplined risk selection and effective risk management. Before assuming significant exposures, we will carefully evaluate the nature of each risk, the quality of available data, our technical expertise, potential accumulation of losses and the adequacy of our reinsurance protection. Aviation and oil and gas are important areas where our existing experience can support deeper participation. In infrastructure and agriculture, we will continue to assess opportunities based on prevailing market conditions, the characteristics of individual risks and our ability to manage them effectively. Our approach is to expand our underwriting appetite in line with our technical capabilities and risk-management capacity. The objective is not simply to write more business, but to build a sustainable portfolio that supports economic growth while preserving our ability to meet policyholders’ claims obligations.
How will CHI balance premium growth with underwriting discipline?
Premium growth must always be supported by sound underwriting and adequate claims-paying capacity. Premium income has little value if the business behind it is inadequately priced or exposes the company to risks it cannot sustainably manage. For us, growth will therefore be measured by quality and profitability, not volume alone. We will maintain disciplined risk selection, ensuring that premiums adequately reflect the risks being assumed. Where the pricing or terms do not support sustainable underwriting, we will be prepared to decline the business. We will also monitor key performance indicators, including loss ratios and combined ratios, to identify emerging challenges and take corrective action when necessary. Portfolio diversification, prudent reserving and strategic reinsurance arrangements will remain central to our risk-management framework. In addition, we will maintain appropriate capital and solvency levels to support our obligations, even during periods of adverse claims experience or challenging market conditions. Technology and data analytics will further strengthen our ability to identify emerging trends, assess exposures and make informed underwriting decisions.
Ultimately, every premium represents a promise to the policyholder. Our responsibility is to ensure that business expansion strengthens, rather than undermines, our ability to honour that promise.
With N1.08 trillion in capital raised, what should Nigerians realistically expect in the next one to two years?
Nigerians should expect steady, measurable improvements in insurance capacity, service delivery and access to appropriate coverage over the next one to two years, rather than an overnight transformation. The stronger capital base gives insurers greater capacity to underwrite and retain larger risks locally, particularly in capital-intensive sectors such as aviation, energy, marine and infrastructure. This should strengthen the industry’s ability to support major commercial activities and reduce unnecessary dependence on foreign reinsurance markets. For policyholders, the priority should be more efficient claims processing, clearer communication, improved digital services and simpler products tailored to the needs of SMEs and individual customers. We should also see continued efforts to expand insurance distribution and reach Nigerians who have traditionally remained outside the formal insurance market. The recapitalisation exercise is expected to strengthen the industry’s financial foundations and support greater resilience, alongside effective regulation, sound underwriting and responsible capital management. However, we must be realistic. Insurance penetration will not increase dramatically within one or two years simply because insurers have raised more capital. The industry must demonstrate its value through consistent service delivery, transparent business practices and prompt settlement of genuine claims. Ultimately, the success of recapitalisation will be measured not only by the capital raised, but by how effectively that capital translates into stronger consumer protection, wider insurance coverage and greater public confidence. Nigerians must see tangible improvements in the way insurers serve them.
What is one promise policyholders can hold management accountable for in the post-recapitalisation era?
The one promise I want our policyholders to hold us accountable for is this: we will handle every genuine claim fairly, transparently and with the urgency it deserves.
Recapitalisation has strengthened our financial capacity, but its real value lies in our ability to fulfil our obligations to customers. When a policyholder submits a valid claim, they deserve clear communication, a fair assessment and settlement without unnecessary delays or excuses.
We recognise that trust is built through actions, not words. We are therefore committed to continually improving our claims processes, monitoring turnaround times, communicating honestly about our performance and addressing any shortcomings in our service delivery.
Ultimately, our responsibility goes beyond selling insurance policies. It is about providing reliable financial protection when individuals, families and businesses need it most. If we consistently honour that responsibility, we will demonstrate that our stronger capital base translates into genuine value for policyholders and lasting confidence in CHI Limited.
