Share on Facebook Share on Twitter

Rex Insurance hosted a press conference today, 31st October 2025, at the company headquarters in Victoria Island, Lagos, to announce our financial performance for 2024. The event was attended by members of the Executive Management team, key stakeholders, and journalists from leading media houses. During the conference, Management presented a detailed overview of our remarkable growth, strategic transitions, and future plans.

Rex Insurance transitioned from Royal Exchange General Insurance Company (REGIC) in 2024, marking a key milestone in the evolution of the company. With the rebranding, the Head Office was relocated to better support the operations and enhance service delivery.

The company reported a 73% increase in Gross Written Premiums (GWP), growing from 16.7 billion Naira in 2023 to 28.7 billion Naira in 2024. This growth was driven by strong underwriting performance, a well-balanced portfolio and a continuous focus on operational efficiency, service  excellence and cost control.

The Managing Director/Chief Executive of Rex Insurance, Mrs. Ebelechukwu Nwachukwu, stated, “The impressive growth in 2024 reflects the effectiveness of our strategic initiatives in underwriting, portfolio optimization and operational management. This success is a direct result of our commitment to excellence.

Looking ahead, we remain focused on delivering exceptional value to our customers, sustaining the momentum we have built and enhancing customer satisfaction through substantial investments in product development and service improvements.'”

A key focus area is the agricultural insurance sector, where Rex Insurance is working to deepen its presence. This includes the introduction of tailored products for the agricultural community and a strategic partnership with Africa RE to expand offerings across the country.”

Gallery Slide
Gallery Slide
Gallery Slide

Additionally, Rex Insurance highlighted its ability to manage large claims effectively, with a total of 30.2 billion Naira in claims paid in various classes of business. This demonstration of operational efficiency further reinforces the ability of the company to serve corporate clients across diverse industries.

Ebelechukwu Nwachukwu remarked, “Our goal for 2025 and beyond is to build on the strong foundation we have established, continue to deliver value to our clients, expand our offerings, and seize new opportunities in both the corporate and agricultural sectors.”

The press conference concluded with a Q&A session where members of the media had the opportunity to engage with the leadership team on the company’s financial performance, strategic plans, and industry outlook.

The management team, led by Ebelechukwu Nwachukwu, was joined by Sheila Ezeuko, Head Legal & Company Secretariat, Abayomi Kayode, Chief Financial Officer and Adesola Akintayo, Executive Director, Technical Services. Journalists from leading insurance media outlets, attended the event and engaged in insightful discussions on the company’s performance and future direction.