BY NKECHI NAECHE-ESEZOBOR—The National insurance Commission (NAICOM) on Thursday clear seven additional companies that have successfully met the minimum capital requirements as stipulated under the Nigeria Insurance Industry Reform Act (NIIRA) 2025
This is contained in a notice released today by the commission.
With the approval of these final seven firms, a total of 48 insurance companies and 2 reinsurance companies have now fully satisfied the Capital Requirements set out by the Act.
According to an official statement released by the Commission’s Management on August 13, the newly verified companies met all regulatory capital thresholds across both Life and Non-Life categories:
The companies are emPLE General Insurance Limited, Non-Life; emPLE Life Assurance Limited, Life; Sovereign Trust Insurance Plc, Non-Life; Tangerine Life Insurance Limited, Life; Alliance & General Insurance Plc, Non-Life; Guinea Insurance Plc, Non-Life; and Regency Alliance Insurance Plc Non-Life.
