Universal Insurance Sets Digital Growth, Product Expansion as 2026 Priorities

ByMoses Alamu2 hours Ago1 Mins read5

Universal Insurance Plc has identified digital innovation and the expansion of its product offerings as key priorities for 2026, as it positions for sustained growth in Nigeria’s insurance sector.

The company disclosed this in a statement made available to The PUNCH, following its 2026 Annual Thanksgiving and Prayer gathering held at its Lagos head office. Speaking at the event, the Managing Director and Chief Executive Officer, Dr. Japhet Duru, said the insurer would focus on leveraging technology to enhance customer experience while deepening its product portfolio.

Duru noted that the company’s growth strategy would include strengthening digital capabilities and forging partnerships aimed at driving innovation across its operations. “We’re excited about the opportunities ahead and remain dedicated to being a trusted partner in protecting what matters most to our clients,” he said.

A development the company said reflects improved profitability, a low loss ratio and the effective deployment of digital initiatives. The rating is expected to boost investor and stakeholder confidence in the insurer’s financial stability and operational performance.

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The company also reiterated its commitment to strengthening operational capacity and maintaining high service standards. Duru urged staff to remain guided by the firm’s core values, stressing that professionalism, integrity and prompt settlement of genuine claims would remain central to its operations.

“As an excellent team, we must deliver unique services to our clients with integrity and reliability. Professionalism and prompt settlement of genuine claims remain our top priority,” he said.

Reflecting on the 2025 financial year, the managing director highlighted key milestones, including the expansion of the company’s product portfolio and increased presence in strategic markets. He also confirmed that recapitalisation efforts are ongoing, noting that the company is determined to ensure a successful process while continuing to expand its footprint within the insurance industry.