AIICO Insurance Plc has received a new operational licence from the National Insurance Commission (NAICOM), confirming its full compliance with the recapitalisation requirements introduced under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The development comes as the company continues to post strong financial results, reinforcing its position as one of the industry’s most resilient and well-capitalised players.
NAICOM confirmed the successful conclusion of the 12-month recapitalisation exercise across the insurance sector, listing AIICO among a select group of insurers that met the new minimum capital threshold, retaining its status as a fully compliant composite insurer across both life and general business lines.
Notably, the company did not require additional capital raising to meet the new regulatory benchmark, having maintained a capital base above the revised minimum even prior to the exercise. This positions AIICO among a limited number of operators entering the new regulatory era from a position of inherent financial strength.
The licensing milestone coincides with a strong financial performance in the second quarter of 2026, further signalling sustained growth and operational stability. With a gross written premium of N104bn, insurance revenue rose to N74.9 billion, representing a 14.5 percent increase from N65.4 billion recorded in Q2 2025.
