Stakeholders gathered at the SUNU Assurances Nigeria Plc Annual General Meeting in Lagos recently.
SUNU Assurances Nigeria Plc has successfully cleared the insurance industry’s recapitalisation hurdle, strengthened its capital base and positioned the company for renewed growth across the Nigerian market.
The company disclosed this at its Annual General Meeting, where shareholders commended the board and management for successfully navigating the capital-raising process amid the industry’s transition to higher minimum capital requirements under the Nigerian Insurance Industry Reform Act 2025.
Speaking at the meeting, the Chairman of SUNU Assurances Nigeria Plc, Kyari Bukar, stated that the board acted proactively by developing a comprehensive recapitalisation strategy and securing timely shareholder approvals.
He said, “Having met the minimum capital requirement, SUNU is now well positioned to pursue sustainable growth while maintaining a strong capital base and proactive regulatory readiness. The successful exercise places us in a stronger position to take advantage of emerging opportunities in the insurance market.”
