The National Insurance Commission (NAICOM) has verified seven additional insurance companies as meeting the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, bringing the total number of compliant insurers to 48, alongside two reinsurers.
In a public notice dated August 13, 2026, the commission stated that the latest verification concludes the industry-wide recapitalisation exercise. The programme was designed to strengthen operators’ financial capacity, resilience and stability, enabling them to underwrite larger risks and better protect policyholders.
The newly confirmed companies are:
emPLE General Insurance Limited (licence 042, non-life); emPLE Life Assurance Limited (licence 043, life) ; Sovereign Trust Insurance Plc (licence 044, non-life) ; Tangerine Life Insurance Limited (licence 045, life); Alliance & General Insurance Plc (licence 046, non-life) ; Guinea Insurance Plc (licence 047, non-life) and Regency Alliance Insurance Plc (licence 048, non-life)
NAICOM said the verification followed the capital thresholds set out in NIIRA 2025 and related guidelines. “With this development, forty-eight (48) insurance companies and two (2) reinsurance companies have been confirmed and verified as compliant with the Minimum Capital Requirements stipulated under NIIRA 2025 and applicable insurance laws and guidelines issued by the Commission,” the notice stated, adding that the exercise had reached a successful conclusion.
Operators met the revised requirements through capital injections, mergers, acquisitions and other approved restructuring. The commission urged policyholders and the public to note the list of verified companies.
READ ALSO: NAICOM commends NASS passage of National Insurance Regulatory Commission Bill
Separately, the Federal…
Source link
Read Full Article by Chima Nwokoji at tribuneonlineng.com
Source link
