Coronation Insurance PLC

  • Sector: Financial Services
  • Reach: Multinational
  • Board Gender Diversity:  ♂5; ♀4
  • CSR/sustainability report: Yes
  • Impact management: Sustainability Desk

Coronation Insurance Plc (formerly Wapic) is a leading West African full insurance company offering a diverse range of products and services covering life, general and special risk businesses. It was founded in 1958 and licensed to underwrite all classes of insurance such as fire and special perils, goods-in-transit, all risk insurance etc. Over the last half century, Coronation Insurance has garnered experience across Nigeria in risk management and underwriting, and assisting corporate entities and individuals with various classes of cover. Coronation Insurance operates two business lines; Coronation Life Assurance Limited which operates in Nigeria, and; a regional footprint in Ghana, Coronation Insurance (Ghana) Limited. Coronation Insurance seeks to be a truly diversified financial services institution that provides protection against all forms of insurable risks to all customer segments our aspiration for the next 5 years is to become a top three (3) insurer in Nigeria by 2023. The company reported a profit of N759. 27 million in 2020.

Coronation recognises that its key stakeholders are its customers, its people, its local community and global community. Coronation reports that it has embedded sustainability into the core of its business by supporting successful companies and communities in every market in which it operates. This is done by investing in education, promoting and protecting human rights and ensuring a healthy and fulfilling working environment for its employees. The company’s sustainability focus includes Sustainable Economies, Sustainable Societies and Sustainable Environment.

CSR Focus Areas
Education
Health

2020 Highlights

Donation to MRF:

Coronation believes in Moyinoluwa Rainbow Foundation (MRF)’s core belief in the ability of children with additional needs and people with Down syndrome can live life to the fullest. The company made donations to MRF to support their objective of providing early intervention for children living with Down Syndrome in order to reduce future stress of managing it.

Inspire Vocational Academy:

In line with Coronation’s sustainability objectives to contribute meaningfully to education in Nigeria, its Corporate Solutions Division embarked on a drive to empower unemployed youths in Yaba community as its employee volunteering initiative. Thus, the company collaborated with Inspire Vocational Academies to provide scholarship to some students who have showed great commitment to learning but are unable to pay their tuition fees.

Standard Bearers Schools:

Coronation partnered with Standard Bearers schools to support its female students participate in Technovation 2019 Global Girl Child Competition. Technovation is a global tech education non-profit that empowers girls and families to become leaders, creators and problem-solvers.

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