By David Akinmola
AXA Mansard Insurance Plc has called for wider insurance coverage in Nigeria, arguing that closing the country’s protection gap could strengthen household and business resilience while supporting investment and long-term economic growth.
The Chief Executive Officer of AXA Mansard Insurance Plc, Kunle Ahmed, made the call at the launch of the company’s pan-African ‘Culture of Care’ campaign, where he said insurance should be viewed not only as protection against losses but also as an important component of the country’s economic infrastructure.
According to Ahmed, broader insurance adoption would help families recover from financial shocks, give businesses greater confidence to invest and expand, and provide individuals with greater certainty when planning for the future.
“Every day, Nigerians demonstrate a culture of care through the sacrifices they make for their families, employees, customers, and communities. Insurance is an extension of that care because it helps protect what people have worked hard to build,” he said.
Ahmed said the relatively low level of insurance penetration meant that many households and businesses remained exposed to risks that could wipe out savings, disrupt operations and undermine years of investment.
“Insurance is economic infrastructure. It helps families recover from setbacks, gives businesses the confidence to invest and grow, and supports economic stability by enabling people to plan for the future with greater certainty,” he added.
He said the Culture of Care campaign was designed to connect insurance with everyday financial responsibilities and encourage Nigerians to regard protection as part of
