NIRA 2025 To Transform Insurance Industry, Boost Public Confidence – Brokers

Stakeholders in Nigeria’s insurance industry have expressed optimism that the Nigerian Insurance Reform Act (NIRA) 2025 will transform the sector, restore public confidence, improve claims settlement and expand insurance penetration across the country.
They said the new legislation would strengthen insurance companies through recapitalisation, promote digitalisation, attract investment, and establish a more effective regulatory framework to improve service delivery and protect policyholders.
The stakeholders also called for increased public awareness, affordable insurance products and stronger collaboration between government and industry operators to make insurance accessible to Nige...