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Insurance Industry recapitalization
Court Restrains NAICOM from Revoking Universal Insurance License
BY NKECHI NAECHE-ESEZOBOR—The Federal High Court sitting in Lagos has granted leave to Universal Insurance Plc to commence legal proceedings against the National...
NAICOM Recapitalisation: Universal Insurance Secures ₦7.13B Equity Deal with FPNG, Awaits NAICOM Approval
BY NKECHI NAECHE-ESEZOBOR—Universal Insurance Plc has entered into an investment agreement with FPNG Co-Nvest Limited (FPNG) for an equity capital injection of ₦7.128...
NAICOM Begins Issuance of New License Certificates to Recapitalised Firms
BY NKECHI NAECHE-ESEZOBOR—National Insurance Commission (NAICOM), on Tuesday presented new Licence Certificates to insurance companies that successfully met the Commission’s new minimum capital...
Rex Insurance Meets NAICOM Minimum Capital Requirement Under NIIRA 2025
BY NKECHI NAECHE-ESEZOBOR—Rex Insurance Limited has successfully met the new Minimum Capital Requirement (MCR) prescribed by the National Insurance Commission (NAICOM) under the...
NAICOM Announces Successful Completion of Insurance Sector Recapitalization Exercise
The National Insurance Commission,(NAICOM), today announced the successful completion of the twelve-month insurance sector recapitalization exercise. In pursuant to Section 15 and other...
Universal Insurance Executes ₦3.2bn Rights Issue Documents Ahead of SEC Approval
BY NKECHI NAECHE-ESEZOBOR—Universal Insurance Plc has formally concluded arrangements for its proposed ₦3.2 billion Rights Issue. At the signing ceremony held in Lagos,...
No Insurer Will Fail Under Our Watch — NAICOM Boss
BY NKECHI NAE-ESEZOBOR—The Commissioner for Insurance and Chief Executive Officer, National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, has pledged to ensure that no...
Insurance Sector Eyes Growth as Reform Implementation Begins
BY NKECHI NAECHE-ESEZOBOR—Nigeria’s insurance industry may be on the cusp of fresh growth opportunities as regulators and industry leaders unveil new reforms and...
