The National Insurance Commission (NAICOM) has confirmed that seven more insurance companies are fully compliant with the Minimum Capital Requirements (MCR) stipulated under the Insurance Industry Reform Act (NIIRA) 2025.
The National Insurance Commission (NAICOM) expects insurers to demonstrate tangible benefits from their stronger balance sheets, following the completion of an industry-wide recapitalisation exercise.
Heirs Insurance Group (Heirs) has met the National Insurance Commission's (NAICOM) recapitalisation requirements, with both Heirs General Insurance and Heirs Life Assurance included on the regulator's list of insurance companies that have satisfied the revised minimum capital requirements by the 31 July deadline.
The National Insurance Commission (NAICOM) has announced that the verified outcome of a recapitalisation exercise in the insurance industry indicates that 43 insurance and reinsurance companies successfully met prescribed Minimum Capital Requirements (MCR) by the statutory deadline of 31 July 2026.
The Senate has passed, after a third reading, the Insurance Regulatory Commission Bill that among various provisions, will rename the National Insurance Commission (NAICOM) and set out a new legal framework for regulating Nigeria's insurance industry.
As Nigeria intensifies efforts to bridge its housing deficit, a question that continues to receive far less attention than it deserves continues to hang over homeowners' heads.
The insurance sector awaits with great anticipation the outcome of the industry recapitalisation exercise, with less than a fortnight to go before the 31 July deadline for insurers to meet new minimum capital requirements,
The National Insurance Commission (NAICOM) has announced that it had granted a Partnering InsurTech licence to NETAPPS, a start-up, reinforcing the insurance regulator's commitment to leveraging digital innovation to deepen insurance penetration and expand access across Nigeria.
The National Insurance Commission (NAICOM) of Nigeria and Ghana's National Insurance Commission (NIC) have strengthened their partnership to reinforce the role of the industry in sustainable regional economic growth.
The incoming Chairman of the Nigerian Insurers Association (NIA), Mrs Ebelechukwu Nwachukwu, has unveiled a strategic blueprint anchored on collaboration, trust and regulatory compliance.