Insurers have been on prudent deployment of capital after recapitalisation. The incoming President of the Chartered Insurance Institute of Nigeria (CIIN), Akinjide Orimolade, during his pre-investiture media briefing.

He said insurers have learnt from the shortcomings of the 2007 recapitalisation exercise and have developed stronger investment management capacity to maximise returns from underwriting and investment income.

Orimolade, who is also the Managing Director/Chief Executive Officer of Stannic IBTC Insurance Limited, said the ongoing recapitalisation would produce stronger and more resilient insurers capable of generating sustainable returns through sound underwriting and disciplined investment strategies.

His assurance comes as insurance companies intensified efforts to meet the recapitalisation deadline under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which raised the minimum capital requirements for operators by about 400 per cent.

Distinguishing the current exercise and the industry’s last recapitalisation in 2007, Orimolade said insurers have become more experienced in managing investment portfolios and no longer rely solely on capital raising without clear deployment strategies.

According to him, the industry has since strengthened its investment management capacity, enabling operators to maximise returns.

“Investors are bringing in money and we have competent investment management teams that will deploy the funds effectively. The insurance business is driven by underwriting profit and investment income. Operators have learnt over time, and extensive engagements are ongoing on the investment side,” he said.

Orimolade said insurance operators are engaging the Debt Management Office (DMO) on opportunities to participate more actively in government debt instruments as part of efforts to diversify their investments and improve returns.

Also speaking at the programme, Managing Director, Guinea Insurance Plc, Ademola Abidogun, who is also a member of the investiture planning committee, said the industry was exploring other investments capable of delivering long-term value to shareholders while protecting policyholders’ funds.