43 Insurance Firms Clear NAICOM’s New Capital Requirement Hurdle

The National Insurance Commission (NAICOM) has announced that 43 insurance and reinsurance companies have successfully met the new minimum capital requirements, marking a major milestone in the ongoing transformation of Nigeria’s insurance sector under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
In a statement, the commission described the development as a significant step towards building a stronger, more resilient and policyholder-focused insurance industry.
NAICOM said the successful completion of the 12-month recapitalisation exercise demonstrated the commitment of operators to strengthening their financial capacity and improving service delivery.
The regulator disc...