NAICOM completes recapitalisation, clears 43 insurers

From Adanna Nnamani , Abuja
The National Insurance Commission (NAICOM) has announced the successful completion of the insurance industry’s 12-month recapitalisation exercise, revealing that 43 insurance and reinsurance companies have met the new minimum capital requirements introduced under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The Commission, in a statement issued on Sunday, said the exercise marks a major turning point for Nigeria’s insurance industry and lays the foundation for a stronger, more resilient and globally competitive sector.
NAICOM explained that the recapitalisation programme was carried out in line with Section 15 and other relevant provisions o...