Wapic Insurance Plc.
“Can a legacy Nigerian insurer reinvent distribution through bancassurance and pan-African expansion under the Coronation Group brand?”
Founded2009
HQIkoyi, Lagos, Nigeria
IndustryFintech / Insurtech
The story
Wapic Insurance Plc. is a Nigerian insurance underwriter, publicly listed since 1990, now operating under the Coronation Insurance brand. In 2020 it secured regulatory approval for a bancassurance model to distribute insurance products through bank partners — most notably leveraging the directors' relationships with Access Bank Plc. The company operates across Nigeria, Ghana, and the UK.
Last 12 months
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Product timeline
1990
IPO on the Nigerian Stock Exchange under ticker WAPIC.· ipo
2020
Received regulatory approvals to begin bancassurance model, leveraging directors' relationship with Access Bank Plc.· pivot
Regulated entities
2
regulatory licences held by Wapic Insurance Plc.
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Wapic Insurance Plc.’s embedded-finance stack
Insurance
Wapic Insurance Plc. (in-house)
Accounting gap: none