NAICOM issues licences to seven additional verified companies
By Rosemary Iwunze The National Insurance Commission, NAICOM, yesterday, issued new licences to the seven additional insurance companies that have been confirmed and verified as compliant with the new minimum capital requirement under the Nigerian Insurance Industry Reform Agenda (NIIRA 2025).
The issuance of the certificates marks the commencement of a phased transition to higher capital standards aimed at enhancing the financial capacity, solvency, and claims-paying ability of insurance operators in Nigeria.
A total of 50 insurance companies were declared compliant with the new capital requirements.
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