REX Insurance Limited has received commendation from the Nigerian insurance broking community for its outstanding underwriting capabilities and remarkable transformation since rebranding from Royal Exchange General Insurance Company Limited.
Babatunde Oguntade, president of the Nigerian Council of Registered Insurance Brokers (NCRIB), expressed a strong vote of confidence in the company during REX Insurance’s executive breakfast session with leading brokers in Lagos. He described the firm as a pride of the insurance industry, affirming that it would continue to enjoy strong patronage from insurance brokers across the country.
According to Oguntade, REX Insurance has proven to be a place “where insurance works,” citing its robust processes, advanced technology, and productive engagement with brokers. He added that brokers will always align with progressive underwriters, while those that fail to evolve will lose relevance.
He also lauded the management and staff of REX Insurance for their invaluable contributions, not only to the growth of the company but to the broader insurance industry.
Seconding the commendation, Ekeoma Ezeibe, deputy president of the NCRIB, praised the company’s management for its impressive repositioning and transformational strides achieved within a relatively short period.
In her remarks, Eberechukwu Nwachukwu, managing director of REX Insurance Limited, reflected on the company’s transformational journey over the past year. “You’re the reason we do what we do,” she stated, while emphasising the firm’s significant investment in technology and its commitment to redefining service delivery.
She noted that although the company is over a century old, it has been reborn—not just in name, but in its vision, mission, and values.
Nwachukwu highlighted that the rebranding from Royal Exchange Insurance to REX Insurance represented a deliberate and strategic overhaul—impacting not only branding, but also operational practices, leadership culture, and engagement with stakeholders. Among the visible changes, she listed the relocation of the head office and key branches to modern, accessible infrastructure.
“We did a brand audit and knew we had to change. The company, the environment, the people, everything had evolved. We decided to embrace the future boldly, with a new identity and a renewed purpose,” she explained.
She reaffirmed REX Insurance’s new vision “to become the preferred Nigerian insurance company” and its mission “to provide innovative and convenient solutions that make insurance empowering and accessible to all,” adding that the firm is now firmly positioned at the forefront of industry innovation and customer-focused service.
Nwachukwu also disclosed that in 2024, the company paid significant claims amounting to ₦15.47 billion, ₦1.79 billion, and ₦1.65 billion to three separate customers respectively.
