By Rosemary Iwunze
The National Insurance Commission, NAICOM, yesterday, issued new licences to the seven additional insurance companies that have been confirmed and verified as compliant with the new minimum capital requirement under the Nigerian Insurance Industry Reform Agenda (NIIRA 2025).
According to NAICOM, the development marks another significant milestone in strengthening confidence, enhancing financial stability, and promoting professionalism within Nigeria’s insurance industry.
The 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; Regency Alliance Insurance Plc.
Speaking on the development, Commissioner for Insurance, Mr. Segun Omosehin, urged the companies to ensure the prudent and effective utilization of their capital to support sustainable growth and strengthen policyholder protection. He further charged them to leave behind the unethical practices of the past and embrace the highest standards of corporate governance, transparency, and accountability.
