NAICOM to Clear More Insurance Companies as NIA Hails Successful Recapitalisation Exercise
Ebere Nwoji
There are indications that the National Insurance Commission(NAICOM), has completed the verification of five out of the eight insurance companies which the commission last week after the release of list of 43 insurance companies that scaled through the recapitalisation hurdle, said were still undergoing their verification exercise.
NAICOM, after releasing the list of the 43 successful companies said because the eight companies had already paid in their recapitalisation money and submitted their documents for verification before the expiration date of July 31, 2021, it would confirm their recapitalisation status in a fortnight, effect from the day it released the list of the successful companies after due verification of their documents.
This is as the Nigerian Insurers Association (NIA) has commended NAICOM for the transparent and structured implementation of the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
