The signing ceremony, held at the Company’s headquarters in Lagos, brought together members of the Board of Directors, Management, Issuing Houses, Legal Advisers, Stockbrokers, and other key stakeholders, underscoring strong confidence in Regency Alliance’s future prospects and strategic direction.

The Rights Issue consists of 3,201,000,000 ordinary shares of 50 Kobo each at 95 Kobo per share, offered on the basis of one (1) new ordinary share for every five (5) ordinary shares held.

The offer is aimed at strengthening the Company’s capital base, enhancing underwriting capacity, and funding strategic investments in technology, product innovation, and customer experience.

For shareholders, the Rights Issue presents an opportunity to increase their ownership stake in a company that has consistently delivered value through disciplined underwriting, responsive service delivery, and prudent financial management.

Speaking at the signing ceremony, the Acting Chairman of Regency Alliance Insurance Plc, Chief Wale Taiwo, SAN, described the development as a major step in the Company’s growth journey.

“Today’s signing is more than a formality. It is a statement of belief — belief in our people, our strategy, and the trust our customers and shareholders have placed in us over the years.

This capital raise will give us the firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder that Regency Alliance will be there when it matters most,” he said.

Chief Taiwo also expressed appreciation to shareholders for their continued support and encouraged all eligible investors to participate in the offer.
“We are particularly encouraged by the unwavering support of our shareholders who have stood by the Company throughout its growth journey. We urge all eligible shareholders to take advantage of this Rights Issue and fully exercise their rights. By doing so, they will not only protect their investment from dilution but also participate directly in the exciting growth opportunities that lie ahead for Regency Alliance Insurance Plc.”

Also commenting on the Rights Issue, the Managing Director, Mr. Bode Oseni, said the capital raise would accelerate the Company’s transformation agenda and strengthen its competitive position in the insurance industry.

“Regency Alliance has always prided itself on being agile, customer-focused, and financially sound. The proceeds from this Rights Issue will accelerate our digital transformation, enhance claims efficiency, and enable us to introduce innovative products tailored to SMEs, Gen Z, and other underserved segments across Nigeria and beyond. We are not merely raising capital; we are raising our ambition,” he stated.

According to him, the Company remains optimistic that shareholders will embrace the opportunity and demonstrate their confidence in Regency Alliance’s future by taking up their rights.

Key Highlights of the Rights Issue

● Purpose: To bolster solvency ratios, support business growth, and invest in digital infrastructure and new product development.
● Shareholder Value: Existing shareholders will be offered the right to subscribe for additional shares in proportion to their current holdings, protecting them from dilution while enabling them to participate in the Company’s future growth.
● Market Confidence: The successful signing reflects strong endorsement from the Company’s advisers and confidence in Regency Alliance Insurance Plc’s governance, risk management framework, and long-term strategy.
● Acceptance Period: The Acceptance List will open on 22 June 2026 and close on 3 July 2026. Eligible shareholders are encouraged to complete and submit their applications within the stipulated period.

Over the years, Regency Alliance Insurance Plc has built a reputation for prompt claims settlement, innovative insurance solutions, and strong corporate governance. The Company serves thousands of individuals and businesses across Nigeria, providing general insurance products that protect lives, assets, and livelihoods.

With all regulatory approvals secured and the Rights Issue Agreement formally executed, the Company will proceed with shareholder communications and offer implementation in compliance with the requirements of the Securities and Exchange Commission (SEC) and Nigerian Exchange Limited (NGX).
The Board and Management remain confident that the Rights Issue will receive strong support from shareholders and further position the Company for sustainable growth, enhanced profitability, and long-term value creation.

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The approvals were granted at the company’s Extraordinary General Meeting (EGM) held recently in Lagos.

Shareholders of Universal Insurance Plc

Under the resolutions, shareholders empowered the Board of Directors to raise the funds through a combination of public offers, private placements, rights issues, or any other approved methods, either in the Nigerian or international capital markets. The pricing, structure, timing, and tranches of the capital raise will be determined by the board, subject to regulatory approvals.

Shareholders of Universal Insurance Plc

Shareholders also authorised the board to revalidate, regularise, and issue the company’s authorised but unissued legacy shares, comprising 14 billion ordinary shares, for the purpose of the capital-raising exercise. Where the existing unissued shares are insufficient, the board was further authorised to increase the company’s share capital by the required number of ordinary shares and allot them accordingly.

In addition, the board received approval to secure the listing and admission to trading of any securities issued under the capital raise on the Nigerian Exchange Limited (NGX) or any other approved exchange or market.

The resolutions also empowered the directors to appoint professional advisers, engage with regulators, execute relevant documentation, and take all necessary steps to implement the capital-raising programme. The Board was authorised to register any increase in share capital with the Corporate Affairs Commission (CAC) and to file all required statutory returns.

Shareholders further approved amendments to the company’s Memorandum and Articles of Association, where necessary, to reflect the new share capital structure following the exercise. All actions previously taken by the board or its committees in connection with the capital raise and regulatory engagements were ratified and confirmed.

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