By Emma Ujah & Rosemary Iwunze
The National Insurance Commission (NAICOM) has announced seven more insurance companies that have scaled the recapitalization hurdle, following a 14-day period granted to eight insurance companies for final verification and regulatory review
With this development, forty-eight (48) insurance companies and two (2) reinsurance companies have been confirmed and verified as compliant with the Minimum Capital Requirements stipulated under NIIRA 2025 and applicable insurance laws and guidelines issued by the Commission.
The regulatory agency said in a statement in yesterday that with the latest announcement, the Nigerian insurance industry recapitalization exercise had been concluded.
The latest to be cleared were: 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.
