KBL Insurance reaffirms commitment to NIIRA as recapitalisation deadline draws near
KBL Insurance Limited
Nike Popoola
As the curtain falls on the year, KBL Insurance Limited has reaffirmed its unwavering commitment to transparency, data integrity, and regulatory compliance, in alignment with the Nigeria Insurance Industry Reform Agenda (NIIRA) and the ongoing recapitalisation programme shaping the future of the nation’s insurance sector.
In a statement on Monday, the company restated its full alignment with the objectives of NIIRA, a reform framework designed to strengthen public confidence in insurance through robust data management, enhanced underwriting discipline, and improved operational efficiency.
In pursuit of these goals, KBL Insurance Limited continues to adopt accurate data reporting standards and technology-driven processes that support industry-wide reforms and promote sustainable growth.
Commenting on the Company’s strategic direction, the Managing Director and Chief Executive Officer of KBL Insurance Limited, Lawal Mijinyawa, described NIIRA and recapitalisation as transformative opportunities rather than mere regulatory obligations. “We at KBL Insurance Limited, view NIIRA and the recapitalisation programme as strategic levers for deepening trust, improving service delivery, and positioning the Company for long-term sustainability.
Our approach is deliberate, and we are confident in our readiness to meet both present and future expectations of the industry,” he said.
Throughout the year, KBL Insurance Limited has implemented targeted initiatives aimed at strengthening internal control systems, improving operational efficiency, and enhancing overall customer experience. These measures have also reinforced the company’s financial position, ensuring preparedness for the recapitalisation exercise and underscoring its resolve to remain a resilient, well-capitalised, and customer-centric insurer.
The company further assured its customers, brokers, and business partners that its operations remain stable and uninterrupted. All insurance policies, claims obligations, and customer services continue to be honoured in full, reflecting the Company’s sound financial footing and strict adherence to regulatory requirements as it advances steadily with its recapitalisation plans.
As part of its broader capital strategy, KBL Insurance Limited continues to explore sustainable growth opportunities, prudent risk management practices, and strategic partnerships capable of delivering long-term value to stakeholders.
These efforts are designed to ensure full compliance with regulatory benchmarks while strengthening the company’s competitive positioning within the market.
Looking ahead to the new year, KBL Insurance Limited plans to deepen its investments in technology, data integrity, and customer experience, while further strengthening its capital base in line with regulatory expectations. The Company remains firmly focused on delivering innovative insurance solutions, boosting market confidence, and contributing meaningfully to the growth, stability, and credibility of Nigeria’s insurance industry.
KBL Insurance Limited expressed its appreciation to customers, brokers, partners, and stakeholders for their trust and loyalty throughout the year, reaffirming its commitment to providing dependable protection, transparency, and excellence in service in the year ahead.
KBL Insurance Limited is a Nigerian insurance company offering dependable and innovative insurance solutions across multiple business lines, with a strong emphasis on customer satisfaction, transparency, and full regulatory compliance.
