CHI Life Assurance Limited, a subsidiary of Consolidated Hallmark Holdings (CHH), has officially launched into the market, having capitalised with N10billion stipulated for life insurers in the Nigerian market
This is even as it assured its current and prospective policyholders and stakeholders that the company is providing exceptional service delivery through well-tailored life products that suit the needs of policyholders.
Speaking at the launch, Eddie Efekoha, group managing director/CEO, Consolidated Hallmark Holdings, confirmed to brokers and consumers of its insurance products that CHI Life and CHI General have exceeded the minimum capital requirements of N10 billion and N15 billion, respectively, as of September 2025.
Read also: Consolidated Hallmark Holdings strengthens shareholder value with 404% profit growth
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.”
Saying CHI Life may be a new company, he added that, “but 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 has undoubtedly prepared us for this new phase.”
He assured that those attributes the stakeholders associate with the 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, Efekoha 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.”
Tope Ilesanmi, managing director, CHI Life 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.
Read also: Consolidated Hallmark Holdings names Tope Ilesanmi as MD/CEO of CHI Life Assurance
“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, Olusegun Omosehin, the commissioner for Insurance/CEO, NAICOM, 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 Ekerete Ola Gam-Ikon, deputy commissioner for Insurance, Finance, 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.