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    Thursday, September 3

    NAICOM Confirms 7 Additional Insurance Companies for Recapitalisation

    Olu AnisereBy News No Comments1 Min Read
    NAICOM Confirms 7 Additional Insurance Companies for Recapitalisation

    NAICOM Confirms 7 Additional Insurance Companies for Recapitalisation

    The 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 said this in a statement issued on Thursday in Abuja. The licence number, name of insurer, and category are LIC 042 emPLE General Insurance Limited Non-Life, LIC 043 emPLE Life Assurance Limited Life, LIC 044 Sovereign Trust Insurance Plc Non-Life.

    Others are LIC 045 Tangerine Life Insurance Limited, 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 forty-eight insurance companies and two reinsurance companies were confirmed and verified as compliant with the minimum capital requirements stipulated under NIIRA 2025.

    The companies were also issued the applicable insurance laws and guidelines by the Commission, bringing the insurance industry recapitalisation exercise to a successful conclusion. #NAICOM Confirms 7 Additional Insurance Companies for Recapitalisation# NAICOM Revokes Nigeria Reinsurance Licence

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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