BY NKECHI NAECHE-ESEZOBOR—Sovereign Trust Insurance Plc and Guinea Insurance Plc are among seven additional underwriting firms officially cleared and verified by the National Insurance Commission (NAICOM) as compliant with the Minimum Capital Requirements stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
This final batch of approvals formally completes the nation’s insurance recapitalization exercise, bringing the total roster of fully capitalized operators in Nigeria to 48 insurance companies and two reinsurance companies.
See details below:
List of Additional Insurance Companies that Complied with the MCR Prescribed by NIIRA 2025
