Nigeria’s insurance sector is ripe for consolidation following a successful N300 billion recapitalization exercise. With the industry now better capitalized and new regulatory frameworks in place for foreign medical insurers, experts anticipate a surge in M&A activity. The market is shifting focus toward insurtech assets that can solve the dual challenges of affordability and distribution, particularly within the vast informal sector. By leveraging technology to reduce costs and improve accessibility, established insurers are seeking to capture the millions of Nigerians currently lacking health coverage. This trend mirrors regional developments, such as the acquisition of Tanel by French firm Alan, signalling that Nigeria’s massive insurance gap is increasingly viewed as a prime investment opportunity.