Our story
Thirty nine years on the same road
Crescent began in two rooms on Ring Road with one idea: insurance should be explained plainly and paid quickly. That idea still decides how we hire, price and pay.
Since 1987Ring Road, Ibadan
Timeline
How we got here
- 1987
Two rooms on Ring Road
Chief Adebola Olayinka, a retired civil servant, and his wife Mrs Folake Olayinka, a trader at Dugbe, start Crescent with motor and fire cover for traders who could not get a straight answer from the big insurers in Lagos.
- 1991
The first big claim
A fire at a textile warehouse in Gbagi tests the young company. The claim is paid in three weeks, and the warehouse owner refers forty traders.
- 1998
Crescent Life
Our life company opens with funeral advances paid within 48 hours, a promise we still keep.
- 2004
Health plans
Partnerships with 60 hospitals and clinics in Ibadan, growing to 240 across the South West and Abuja today.
- 2011
Fourteen branches
Every branch is managed by someone from that town, from Ogbomoso to Wuse 2.
- 2016
Agents in the markets
420 agents now visit markets, motor parks and estates, taking daily payments from traders.
- 2020
Claims on the phone
Photo claims and digital cards. The average motor claim falls from 21 days to 6 (example figure).
- 2026
The AI line and Vablus
An AI line answered day and night in Nigerian English, a chat assistant that can quote and take payment, and a person always a tap away.
What we believe
Four promises we still keep
Plain words
Every policy comes with a one page summary in English, and Yorùbá or Pidgin on request.
Pay first, ask later
For serious losses we pay an advance before the paperwork is finished.
Local people
Branch managers come from the town they serve. They know the market days.
A person is always there
The AI line and the chat hand over to a person whenever you ask.
Leadership
The people who answer for it
Invented people for this demo.
Mrs Kemi Oladipo
Group Managing Director
Joined as a claims clerk in 1996.
Mr Tayo Olayinka
Chairman
Son of the founders, an actuary by training.
Dr Hauwa Bello
Medical Director, health plans
Leads hospital quality reviews.
Mr Chinedu Okafor
Head of claims
Built the six day motor claim.
Strength
Built to pay, year after year
₦9.8bnshareholder funds, example
96%of claims paid in full, 2025 example
612staff and 420 agents
We reinsure large risks with international partners and keep claims reserves above what the rules require. Our yearly report is in the owner pages and at every branch.
In the community
Ibadan first
Free car safety checks
Every second Saturday at Ring Road: tyres, lights and brakes, before the rains.
Exam fee fund
We pay final exam fees for 300 secondary school students in Oyo State each year.
Market health days
Free blood pressure and sugar checks for traders at Bodija and Oje markets.
Come and see us on Ring Road
Branches are open 8am to 6pm on weekdays and 10am to 2pm on Saturdays.