News Africa09 Jun 2019

Nigeria:Mart consolidation looms as insurers scramble to meet new capital rules

| 09 Jun 2019

The National Insurance Commission (NAICOM), which regulates the industry in Nigeria, has increased the required minimum capital for insurance and reinsurance companies, with the exception of takaful operators and microinsurance firms. As an estimated 10 of the 57 insurance companies in operation currently meet the requirements, a shake-up is expected in the market with moves towards consolidation.

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