Great Nigeria Insurance (GNI) has begun repositioning for market expansion, leveraging its stronger capital base to pursue large risks, deepen digital distribution and strengthen its competitive position.

The insurer, which has completed the recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, said the milestone marked a transition from capital adequacy to aggressive but sustainable business expansion, with greater focus on underwriting capacity, customer experience and operational efficiency.

The development comes as the industry moves into a new phase following months of capital raising, with operators now expected to demonstrate how the stronger balance sheets will translate into profitable growth and improved protection for policyholders.

For GNI, the strategy is to use its enhanced financial capacity to compete for major risks in oil and gas, energy, marine, aviation and infrastructure, while simultaneously expanding its retail footprint through digital platforms.

The company said it achieved the new capital threshold without compromising its ownership identity or being forced into a merger, securing fresh equity through private placement before reinforcing the position through a targeted rights issue involving institutional shareholders and other investors.

Speaking on the development, the Managing Director, Shola Osho, described the achievement as a defining moment in the company’s 66-year history.

“When NIIRA 2025 raised the bar, critics queried our capacity to meet the challenge without losing our identity or independence. Well, we have not only met the requirement, but we have also exceeded it,” she said.

Osho said the company’s long history had been built on resilience and the confidence of its stakeholders, adding that the stronger capital base would provide the foundation for its next phase of growth.