Seven more insurance firms meet recapitalisation requirements
by The Eagle Online · The Eagle OnlineThe National Insurance Commission (NAICOM) says seven additional insurance companies have been verified for the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA 2025).
The management of NAICOM made the disclosure to newsmen in a statement that it issued to them on Thursday in Abuja.
The licence number name of insurer category are LIC 042 emPLE General Insurance Limited Non-Life, LIC 043 emPLE Life Assurance Limited Life, and LIC 044 Sovereign Trust Insurance Plc Non-Life.
Others are LIC 045 Tangerine Life Insurance Limited Life, LIC 046 Alliance & General Insurance Plc Non-Life LIC 047, Guinea Insurance Plc Non-Life, and LIC 048 Regency Alliance Insurance Plc Non-Life.
The News Agency of Nigeria (NAN) reports that 48 insurance companies and two reinsurance companies were confirmed and verified as compliant with the minimum capital requirements stipulated under NIIRA 2025.
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The companies were also issued applicable insurance laws and guidelines by the commission, bringing the insurance industry recapitalisation exercise to a successful conclusion.
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