Additional list of seven insurance companies confirmed and verified by the National Insurance Commission are now displayed in the cabinet of the Commission as compliant with the minimum capital requirements under NIIRA 2025 and applicable insurance laws and guidelines.
Released to the public today by the management of NAICOM, the list falls short of one insurer out of the eight the Commission stated submitted evidence of compliance shortly before the statutory deadline of mid night of 31 July, 2026. In the first batch, 41 insurance companies and two reinsurers were cleared.
The seven cleared today adds to the number approved to carry on with insurance business are: emPLE General Insurance Limited (non-life), emPLE Life Assurance Limited (life), Sovereign Trust Insurance Plc (non-life, Tangerine Life Insurance Limited(life), Alliance & General Insurance Plc(non-life), Guinea Insurance Plc(non-life), Regency Alliance Insurance Plc (non-life).
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, thereby bringing the Nigerian insurance industry recapitalization exercise to a successful conclusion.
