ads…As firms seek N78.18bn
As the deadline for insurance industry recapitalisation draws closer, foreign investors and local banks are increasingly showing interest in Nigeria’s insurance sector, with many targeting majority equity stakes in struggling firms.
Although the prospect of relinquishing controlling shares is not well-received among many operators seeking fresh capital, industry analysts believe the development could significantly reshape the ownership structure, corporate governance, and competitive landscape of the sector.
The growing interest is being driven by expectations that recapitalisation will trigger consolidation, strengthen underwriting capacity, and position the industry for bigger participation in major sectors of the economy, including oil and gas, aviation, infrastructure, and marine business.
An executive director in one of the second-tier insurance companies, who preferred anonymity, said: “We are having both local and foreign investors, including banks, interested in bringing in funds. But the conditions are not favourable to our core investors.”adsads
