Global Credit Ratings (GCR) has upgraded Tangerine Life Insurance Limited’s national scale financial strength rating from A-(NG) to A(NG), with a Stable Outlook. The upgrade reflects the company’s strengthened financial foundation and operational scaling, according to the rating agency’s latest assessment.
Growth Behind the Rating
In 2025, Tangerine Life’s insurance revenue increased by 29% to ₦10.4 billion, supported by digital optimization initiatives that improved agent and customer onboarding. The company also diversified its retail business, with individual life accounting for 38% of gross written premiums at the end of 2025, compared with 34% in the previous year.
Shareholders’ funds increased by 18.7% to ₦14.4 billion, supported by improved earnings generation and retention. GCR’s assessment highlighted Tangerine Life’s strong risk-adjusted capitalization, with capital adequacy remaining robust relative to its risk exposures.
Claims Payment and Customer Commitment
In 2025, Tangerine Life paid more than ₦9 billion in claims, while maintaining its 24-hour claims settlement commitment for eligible claims. This is important because claims payment remains the ultimate test of an insurance company’s credibility, its willingness and ability to honor claims swiftly.
For many Nigerians, it answers the question: “When I need you, will you be there?” A stronger balance sheet, stronger capital position and a growing financial performance provide an important part of that answer.
What the Upgrade Means
The move from A- to A is a positive signal about Tangerine Life’s financial strength, according to GCR. The latest assessment points to strong liquidity and capitalization, while maintaining a stable outlook.
This upgrade is part of a broader trajectory. In August 2024, GCR upgraded Tangerine Life from BBB+(NG) to A-(NG) with a Stable Outlook. In 2025, the rating was affirmed at A-(NG), moving from a Stable to Positive outlook. The 2026 rating now stands at A(NG).
Regulatory Compliance and Operational Reach
The National Insurance Commission (NAICOM) recently confirmed that Tangerine Life had met the applicable recapitalisation requirements following its regulatory verification process. Beyond regulatory compliance, the company has expanded its operational reach; customers can now access protection through an easy-to-use client portal, where they can purchase policies, track coverage, and file claims seamlessly.
These developments paint a picture of a life insurer focused not just on growing bigger, but on growing stronger. Sustainable growth in insurance isn't simply about acquiring more customers or writing more policies; it is about having the financial capacity, operational discipline, and customer focus to stand behind those policies.
Implications for Nigerians
For customers, the latest rating is another reason to look beyond the common perception of insurance as simply an expense. Rather, it is about protecting a family's plans when life changes unexpectedly, helping businesses manage uncertainty, and ensuring that a sudden loss doesn't completely derail years of work and planning.
As more Nigerians embrace insurance as part of their financial planning, the strength of the institution providing that protection becomes non-negotiable. Tangerine Life's latest rating confirms that the company is moving in the right direction, from growth to greater strength, and from protection today to assurance tomorrow.
