…as Staco, Universal others miss in the list
The National Insurance Commission (NAICOM) has confirmed seven additional insurance companies as having met the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, effectively bringing the industry’s long-running recapitalisation exercise to a close.
With these seven the number of firms conformed comes to 50, including48 insurance companies and two reinsurance companies.
In a notice to the general public dated August 13, 2026, the commission said the seven insurers had been confirmed and verified as compliant with the minimum capital requirements prescribed under NIIRA 2025 and applicable insurance laws and guidelines.
The newly cleared companies are emPLE General Insurance Limited, emPLE Life Assurance Limited, Sovereign Trust Insurance Plc, Tangerine Life Insurance Limited, Alliance & General Insurance Plc, Guinea Insurance Plc and Regency Alliance Insurance Plc.
