The company was incorporated in Nigeria under the Companies and Allied Matters Act, Cap C20 Laws of the federation, (LFN) 2004 as private limited liability company in 1973. It started business in 1974 as Kano State Insurance Company Limited. The name was changed to Kapital Insurance Company limited in 1981. In 2005, it merged with Global Commerce and General Assurance Company Limited and Inter-Continental Assurance Company Limited. In 2008, the name of the company was changed to UnityKapital Assurance Plc. The company was subsequently listed on the floor of the Nigerian Stock Exchange (NSE) on 17th December, 2009.The principal activity of the company is to transact general (Non-life) insurance business.
