NAICOM revokes Universal Insurance’s licence, appoints receiver
By Innocent Anaba The National Insurance Commission (NAICOM) has revoked the license of Universal Insurance Plc and appointed a receiver/provisional liquidator to commence the process of winding up the company’s affairs. The cancellation, which took effect on August 14, 2026, followed the company’s alleged failure to meet the prescribed Minimum Capital Requirement (MCR) applicable to its […]
Anchor Insurance successfully recapitalise, surpasses minimum threshold
By Rosemary Iwunze The Management of Anchor Insurance Company Limited has officially announced that the Company has successfully met the recapitalisation requirements of the National Insurance Commission (NAICOM) under the Nigeria Insurance Industry Reform Act (NIIRA) 2025. The Managing Director/CEO, Dr. Ebose Augustine Osegha declared: “Today, our capital base stands in excess of ₦25.5bn, significantly […]
Rex Insurance successfully meets new minimum capital requirement
Rex Insurance commends NAICOM for its leadership in strengthening the insurance sector through the recapitalisation exercise and remains committed to supporting initiatives
Leadway unveils ‘Leadway PFA’ as unified brand following successful consolidation journey
The organisation reassures all contributors that the brand transition requires zero action on their part. All RSA balances, unique PINs, and historical financial records remain perfectly intact
AIICO retains composite licence without capital raise, posts solid Q2 performance
AIICO Insurance Plc has received a new operational licence from NAICOM, confirming its full compliance with the recapitalisation requirements
Mutual Benefits meets NAICOM recapitalisation milestone, strengthen industry leadership position
“This achievement goes beyond meeting a regulatory requirement. It is a reaffirmation of our enduring promise to policyholders”
