CHI Life Assurance commences operations with robust people-friendly products
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Chuks Udo Okonta
CHI Life Assurance Limited, a subsidiary of Consolidated Hallmark Holdings (CHH), was yesterday officially launched into the insurance market, with a capital base of N10 billion stipulated for life insurers and armed with people-friendly products and services.
Speaking at the launch, the Group Executive Officer CHH, Eddie Efekoha, said CHI Life and CHI General have exceeded the minimum capital requirements of N10 billion and N15billion respectively as of September 2025.
Efekoha who doubles as the Chairman of CHI Life Assurance Limited assured stakeholders that, “As we embark on this journey together in the provision of various life and general insurance products, remember that CHI Life and by extension CHI will not let you down when the unexpected happens.”
He noted that; “CHI Micro Insurance Limited, a member of our group, was the first to be issued a national micro life assurance licence by the National Insurance Commission in 2021. The experience gained since then have undoubtedly prepared us for this new phase.”
He assured that those attributes the stakeholders associates with Consolidated Hallmark brand, which is, promise of value in prompt and quality service delivery shall remain undiluted in CHI Life. To him, “we remain focused on our vision to be the first-choice provider of insurance and other financial services in Nigeria and shall continually live our mission of preserving wealth, reducing anxiety and creating value for all those who shall come in contact with us either as customers, investors or partners in our business.”
CHI Life, he said, will take advantage of investment-linked policies to safeguard policyholders’ future savings, regardless of prevailing economic headwinds, adding that, “we shall keep designing and we developing products tailored to the unique needs of individuals, families, cooperatives, and businesses, to ensuring that they receive not only financial protection but also opportunities for long-term wealth creation.”
The Managing Director/CEO of the new underwriting firm, Tope Ilesanmi said, his firm is a proud subsidiary of Consolidated Hallmark Holdings Plc, even as it was licensed by the National Insurance Commission (NAICOM) on 10 March 2025, “and we launch today backed by a very strong capital base -evidence of our stability and long-term commitment to Nigeria’s life assurance market.
“Our vision is simple yet bold: to be the first-choice provider of life assurance and financial protection in Nigeria.”
He noted that, the new insurer is fully compliant with NAICOM regulations, IFRS 17 standards, and Risk-Based Capital requirements, giving it a solid foundation for sustainable growth.
He promised that, his underwriter will leverage his parent company’s network, cooperatives, mortgage institutions, and fintechs to widen access, stressing that, with presence across Lagos, Mainland, Island, and up-country regions, it is ready to scale nationwide.
“Our underwriting team, supported by actuarial oversight, ensures sound pricing and swift claims processing. We proudly introduce nine NAICOM-approved products—including Credit Life, Mortgage Plan, Legacy Plan, Cooperative Plan, Welfare Plan, Edusure, Achievers Plan, Swift Plan, and Keyman Plan—crafted to provide affordable, relevant, and dependable solutions for corporates, groups, and individuals, ” he said.
Meanwhile, the Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) Olusegun Omosehin, while applauding the Holding company for retaining it’s insurance brand name in all it’s subsidiary, including CHI Life, noted that, the commission has no doubt in the ability of the managers of the firm to effectively manage the entity such that, it becomes the pride of insurance industry.
Omosehin, who was represented by the deputy commissioner for Insurance, Finance, Ekerete Ola Gam-Ikon urged other veteran operators who felt they can effectively run an insurance company to approach the commission for licence as NAICOM will not deny any investor the opportunity to operate in the industry provided they meet the stipulated guidelines.
The Chairman, Nigerian Insurers Association (NIA), Kunle Ahmed assured the new entity that the association is open to its membership, even as he testified to the credibility of the management of CHI Life to make strong inroad in the life insurance market.
The President, Nigerian Council of Registered Insurance Brokers (NCRIB), Prince Babatunde Oguntade, promised the new firm the support of over 500 registered insurance brokers, expecting the company to always pay genuine claims and give values to customers, investors and other stakeholders.
