Prudential Zenith Life Exceeds Capital Requirement by ₦19.3bn, Shows Strong Growth
Prudential Zenith Life Insurance Company Limited in Nigeria has exceeded the new regulatory capital requirement by ₦19.3 billion, as announced by the National Insurance Commission (NAICOM). The company's audited financial statement for 2024 revealed a surplus of ₦10 billion over the minimum legal requirement for life underwriting businesses.
The Chief Executive Officer, Funmi Omo, highlighted the company's exceptional financial strength, with a 21% increase in profit after tax to ₦5 billion and a 21% growth in total assets to ₦20 billion. Prudential Zenith Life has solidified its position as a leader in the Nigerian insurance sector, showcasing robust operational performance and significant growth in key financial indicators.
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