Home Business Insurance World Linkage Assurance Plc raises N16.2 billion from Rights Issue
Insurance World

Linkage Assurance Plc raises N16.2 billion from Rights Issue

Share
Share

Linkage Assurance Plc (the Company) announces the successful completion of its N16.2 billion Rights Issue, which opened on March 11th, 2026, and closed on April 23,2026. Following the approval of the Securities and Exchange Commission (SEC) all the shares have been allotted to the subscribers of the issue, and the shares have been listed on the Nigerian Exchange Limited (NGX.)

The Rights Issue was undertaken in response to the NAICOM’s directive on the recapitalization of Insurance Companies in Nigeria.

The conclusion of the capital-raising which was fully subscribed reflects the continued confidence of stakeholders in the Company’s Board and Management, governance, financial performance, and strategic direction.  The Company remains committed to full regulatory compliance and prudent risk management. With its strengthened capital base, the Company is well positioned to provide more robust service to its teeming customers and deliver sustainable value to stakeholders.

The proceeds from the Issue will be used to meet the minimum capital requirement, in compliance with the new regulatory capital requirements, and to implement business expansion in line with the long-term strategic focus of the company.

Share
Related Articles

Insurance Directors Board Membership Not an Honorary Appointment-says NAICOM

BY NKECHI NAECHE-ESEZOBOR—The National Insurance Commission (NAICOM) on Thursday told directors of...

NAICOM Names Former AfDB President Adesina as Insurance Ambassador

BY NKECHI NAECHE-ESEZOR—The National Insurance Commission (NAICOM) has named the former President...

STI Delivers 296% Profit Growth as Equity Rises to ₦21.5bn in Nine Months

Sovereign Trust Insurance Plc (STI) has reported a significant improvement in profitability...

Insurance Industry Set for 2026 Almond Awards November 6

Excitement is building within Nigeria’s insurance industry as stakeholders prepare for the...