Metropolitan Life Insurance

Annual Report/Financial Statements 2017

Metropolitan Life Insurance Nigeria Limited is a company that emerged following the successful recapitalization and change of name of erstwhile HEIRS Life Assurance Company Limited. The company is a joint venture between United Bank for Africa plc (UBA) and Metropolitan Holdings Limited of South Africa, a Johannesburg Stock Exchange listed company that has been doing business in South Africa for more than a century. This unique and potentially powerful strategic alliance has a market capitalization in excess of N2 billion.

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Our most valuable asset in Metropolitan Life Insurance Nigeria Limited remains the highly trained, qualified, competent and well-motivated staff. Following our successful recapitalization, this team will be strengthened with new hands, especially in our areas of business expansion. Our Management Team (see list) evolves overtime through hands-on job experiences and world-class management trainings, creating a healthy environment, where ideas and innovations thrive.

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Creating prosperity for Nigeria’s people
To serve Nigeria’s people through affordable financial solutions that creates financial growth and security.
Our values are represented by the acronym PIPE
P- PEOPLE… our greatest assets and source of inspiration
I- INTEGRITY… the courage to do what is right
P- PERFORMANCE… we go for excellence in everything we do
E- ENTERPRENEURSHIP… ownership spirit; look for opportunities and take bold steps to increase our success.


Metropolitan Life Insurance Nigeria Limited has our Reassurance arrangement with Continental Reinsurance who writes business across 43 African countries, and are serviced from five client service centres in Nigeria, Cameroon, Côte d’Ivoire, Kenya and Tunisia (upcoming). With their diversified and profitable portfolio, they offer their clients a product of indisputable value underpinned by their uncompromising service and technical capability. They are a composite reinsurer offering capacity and services across the full spectrum of Non-Life and Life business lines.

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