One year after unveiling its new identity, Rex Insurance has reaffirmed its commitment to innovation, service excellence, and internal transformation.
This vision was declared at a breakfast meeting with brokers in Lagos, where the management team of the underwriter highlighted the achievements of the past year and more.
The century-old insurer, formerly known as Royal Exchange, rebranded to Rex Insurance in July 2024 and opened a new head office in the Victoria Island area of Lagos.
On the anniversary of its rebrand, the firm highlighted its strides in technology adoption, cultural renewal, and leadership restructuring aimed at repositioning itself as a modern, customer-focused insurance provider.
Reflecting on the journey thus far, the Managing Director/Chief Executive Officer of REX, Mrs. Ebelechukwu Nwachukwu, said, “Since the company had changed, the environment had changed, and the people had changed, we decided that we’re not the same people.”
With investments in internal systems and a brand mantra encapsulated in the acronym REXIT (Resilience, Efficiency, Excellence, Integrity, and Teamwork), the insurer is focused on delivering simplified and impactful service experiences.
“Everything about the company has changed,” Nwachukwu continued. “We’ve invested a lot in technology, and we began changing our internal processes and redefined our service delivery. This company is over 100 years old; it has been reborn, not just in name, but in vision, mission, and values.”
Speaking on the focus for 2025, the MD said, “In 2025, we created a theme, ‘Building synergy and growth,’ because we had now laid the foundation and it was time to begin to build our business. Our focus in 2025 is profitability. You know, our shareholders have been there through the difficult times. We think it’s time for us now to work very focused and intentionally to be in a profitable business. Cost optimisation is the focus and process optimisation.”
The Chief Digital Officer of Rex Insurance, Adeyinka Aderonbi, noted that technology has been put into use both within the organisation and in dealing with its customers, with automation a key factor embedded in the processes.
The President/Chairman of the Nigerian Council of Registered Insurance Brokers, Babatunde Oguntade, in his comments at the event, lauded the organisation for its strides in the past year.
He said, “Rex Insurance is where insurance works. Rex is moving in the right direction, and we assure you of our continued patronage.”
On the industry, Oguntade said, “We need to revamp our image.”
He added that brokers would only do business with underwriters who were progressive and positive, saying, “Brokers would do business with any progressive and positive underwriter, and we shall pull down any oppressive underwriter. It is a matter of fact and not a threat because a man who takes my livelihood wants to take my life, and the man who protects my livelihood wants to give me life.”
