Key points
- Leadway Assurance says its post-recapitalisation strategy will focus on digital growth, underwriting capacity and policyholder commitment.
- The insurer plans to target high-net-worth customers, major infrastructure projects, entrepreneurs and small businesses.
- The stronger capital base is expected to support larger and more complex risks across key sectors.
Main story
Leadway Assurance Ltd. is targeting digital growth, larger risk underwriting and deeper insurance coverage as part of its strategy following the completion of its recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The insurer said the stronger capital base would increase its capacity to underwrite larger and more complex risks, support financial inclusion and expand its contribution to Nigeria’s economic development.
Leadway said its post-recapitalisation strategy would focus on three broad customer and market segments: high-net-worth individuals and premium customers, critical sectors and infrastructure, and digitally driven Nigerians and small business owners.
Targeting larger risks and premium customers
The company said increased capital would allow it to develop more specialised insurance solutions for high-net-worth individuals whose wealth and assets require more complex protection.
It also plans to expand its capacity to underwrite risks associated with major public and private-sector projects, particularly in energy, manufacturing and other large-scale enterprises.
Leadway said its expanded underwriting capacity would also support infrastructure and enterprise insurance across sectors including finance, energy, agriculture and technology.
Digital expansion
The insurer said young Nigerians, entrepreneurs and small business owners would form another important part of its growth strategy as demand increases for convenient and digitally enabled financial services.
It said the digital focus was aligned with the National Insurance Commission’s (NAICOM) efforts to accelerate digitalisation and deepen financial inclusion within the insurance industry.
Chief Executive Officer of Leadway Assurance, Gboyega Lesi, said the company had spent the past several years strengthening its technical capabilities, digital infrastructure and strategic positioning.
According to him, the recapitalisation would allow the company to pursue its growth ambitions at greater scale, including underwriting risks for major enterprises and developing products for younger consumers.
The issues
The completion of the recapitalisation exercise gives Leadway greater capacity to pursue larger risks and expand its customer base. The company is positioning the new capital not simply as a regulatory requirement but as a platform for expansion across digital insurance, infrastructure and enterprise coverage.
What’s being said
Lesi said the company’s next phase would be defined by its ability to operate at greater scale while maintaining its commitment to policyholders.
He also commended NAICOM for establishing what he described as a clear regulatory framework capable of promoting discipline and strengthening confidence in the insurance market.
What’s next
Leadway is expected to expand its underwriting capacity, develop digital insurance solutions and pursue opportunities across infrastructure, energy, manufacturing, agriculture, technology and other sectors while targeting high-net-worth customers and small businesses.
Bottom line
Leadway Assurance is using its completed recapitalisation to move into a new phase focused on larger risks, digital insurance and broader market participation, with the insurer positioning its stronger capital base as a platform for growth rather than merely a regulatory requirement.
