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Stakeholders urge insurers, pension firms to turn recapitalisation into better customer value

Insurance and pension stakeholders have urged operators to use stronger capital bases to improve customer service, develop affordable products and deliver better returns and financial security.

By Babatunde Ademola Fadewo

2 min read 1 views Updated Oct 21, 2026
Stakeholders in Nigeria’s insurance and pension industries have urged operators to ensure that funds raised through recapitalisation translate into better services, stronger financial security and greater value for customers. The call was made during the 11th Annual Conference of the Nigerian Association of Insurance and Pension Editors held in Lagos on October 8, 2026.
The conference, themed “Post-Recapitalisation: Market Dynamics in Insurance and Pension Sectors,” focused on how stronger capital positions can benefit policyholders, pension contributors and the wider economy. Participants argued that the success of recapitalisation should be measured by improvements in service delivery and customer confidence rather than simply by the amount of capital raised.
Managing Director of SanlamAllianz General Insurance, Jacqueline Agweh, said insurers should use the post-recapitalisation period to develop simpler, affordable and more relevant products. She called for greater use of digital platforms, easier onboarding and more accessible retail and micro-insurance products that reflect customers’ everyday needs.
Executive Director of NLPC Pensions, Babalola Rufus, said pension and insurance operators must protect customers’ funds, invest them responsibly and ensure benefits are paid when due. He added that stronger capital should result in better investment decisions, greater accountability and improved services for Retirement Savings Account holders and policyholders.
Managing Director of Zenith Pensions Custodian Limited, Peters Elendu, also urged operators to invest in technology, artificial intelligence, data analytics and staff development. Represented by Alfred Nkuma, he said recapitalisation should be treated as an opportunity to build stronger institutions and solve customer problems, rather than merely as a regulatory requirement.

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Insurance and pension stakeholders have urged operators to use stronger capital bases to improve customer service, develop affordable products and deliver better returns and financial security. Stakeholders in Nigeria’s insurance and pension industries have urged operators to ensure that funds raised through recapitalisation translate into better services, stronger financial security and greater value for customers. The call was...

Key takeaways
  • Insurance and pension stakeholders have urged operators to use stronger capital bases to improve customer service, develop affordable products and deliver better returns and financial security.
  • Stakeholders in Nigeria’s insurance and pension industries have urged operators to ensure that funds raised through recapitalisation translate into better services, stronger financial security and greater value for customers.
  • The call was made during the 11th Annual Conference of the Nigerian Association of Insurance and Pension Editors held in Lagos on October 8, 2026.The conference, themed “Post-Recapitalisation: Market Dynamics in Insurance and Pension Sectors,” focused on how stronger capital positions can benefit policyholders, pension contributors and the wider economy.
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Insurance and pension stakeholders have urged operators to use stronger capital bases to improve customer service, develop affordable products and deliver better returns and financial security. Stakeholders in Nigeria’s insurance and pension industries have urged operators to ensure that funds raised through recapitalisation translate into better services, stronger financial security and greater value for customers. The call was...

Who published this story?

Glow 99.1 FM published this story with Babatunde Ademola Fadewo listed as author.

When was it published?

October 15, 2026

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