The Chairman of the NIA, Mrs Ebelechukwu Nwachukwu.
The Nigerian Insurers Association has commended the National Insurance Commission for its fair, transparent, and structured implementation of the minimum capital requirements under the Nigerian Insurance Industry Reform Act 2025.
In an official statement released on Thursday, the Chairman of the NIA, Mrs Ebelechukwu Nwachukwu, praised NAICOM’s structured approach, highlighting that clear regulatory guidelines, systematic verification, defined timelines, and rigorous supervisory oversight provided operators with a credible framework to navigate the recapitalisation exercise successfully.
Nwachukwu noted that the exercise underscores NAICOM’s commitment to regulatory fairness and orderly market development, marking a pivotal milestone in bolstering the financial capacity, stability, and global competitiveness of the Nigerian insurance sector.
She assured the apex regulator of the association’s unwavering support in leveraging the gains of the recapitalisation process to drive sustainable industry growth, enforce high market conduct standards, elevate consumer trust, and expand the sector’s contribution to the national economy.
