“Can a 1958-founded Nigerian underwriter become the embedded-insurance rail behind West Africa's banks and fintechs?”
Founded in 1958 as WAPIC, one of Nigeria's oldest insurance underwriters, the company was rebranded to Coronation Insurance under the Coronation Group umbrella. The group has since pushed the insurer toward embedded and digital distribution — launching self-service retail, claims and marine portals in 2024-2025 to sell insurance directly through banks, fintechs, and agents rather than traditional brokers. The bancassurance partnership with Access Bank is the anchor embedded-distribution channel, alongside experimentation with cross-border remittance corridors via Access Holdings and M-PESA.
Coronation Insurance Plc. processes payments through Paystack.
Coronation Insurance Plc.'s embedded insurance is provided by Coronation Insurance Plc (in-house), Coronation Life Assurance (in-house) and Coronation Insurance Ghana (in-house).
Coronation Insurance Plc.'s investing and wealth products are powered by Coronation Asset Management (in-house), Coronation Trustees (in-house) and Coronation Securities (in-house).
The Embedded Finance Index 2026 maps 3 layers in Coronation Insurance Plc.'s stack: Payments / PSP (Paystack); Insurance (Coronation Insurance Plc (in-house), Coronation Life Assurance (in-house) and Coronation Insurance Ghana (in-house)); Investing (Coronation Asset Management (in-house), Coronation Trustees (in-house) and Coronation Securities (in-house)).
Coronation Insurance Plc. is founded in 1958 and headquartered in 119 Awolowo Road, Ikoyi, Lagos, Nigeria.
Get a read on where your own stack stands against Coronation Insurance Plc. and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.