Insurance recapitalisation deadline ends today as sector awaits NAICOM verdict
Nigeria’s insurance industry has reached a defining moment as the recapitalisation deadline officially expires today, leaving operators and investors eagerly…
Category: insurance
Nigeria Insurance Sector Races to Meet Recapitalisation Rules as NAICOM Deposit Deadline Expires
Nigeria’s insurance industry has entered a critical phase of reform as insurers and reinsurers intensify recapitalisation efforts following the expiration…
Foreign Investors, Banks Target Nigerian Insurance Firms as Recapitalisation Deadline Nears
As Nigeria’s insurance industry races against the clock to meet new capital requirements, foreign investors and local banks are increasingly…
Insurance Firms Double Tax Payments to N15.2bn Despite 15% Drop in Profit Before Tax
Nigeria’s insurance sector recorded a significant rise in tax contributions in 2025, with 11 major insurance companies paying a combined…
NGX Activates Rights Trading for Insurance Firms to Boost Capital Base
The Nigerian Exchange (NGX) has activated trading codes for the rights issues of Guinea Insurance Plc, Lasaco Assurance Plc, and…
BREAKING: NAICOM rolls out Mandatory Policyholders’ Protection Fund, tightens insurance compliance
The National Insurance Commission (NAICOM) has issued sweeping new guidelines mandating all insurers and reinsurers to contribute to the Insurance…
Nigeria’s Tax Overhaul Tightens Profit Rules for Insurers, Reshapes Industry Landscape
Nigeria’s insurance industry is entering a new phase of stricter regulation as recent tax reforms redefine how companies calculate profits,…
Mutual Benefits Pays N5.94bn in January Claims, Reinforcing Trust and Financial Strength
Mutual Benefits Insurance Plc has made a remarkable start to 2026, paying a total of N5.94bn in claims to its…
Nigerian Insurers Oppose Tax Breaks for Foreign Firms, Warn of Market Distortion
A proposal to exempt foreign insurance companies from paying taxes on premiums generated in Nigeria has sparked concern among local…
Fitch Forecasts Stable Investment Mix for Life Insurers in 2026 Despite Rising Risk Appetite
Fitch Ratings has projected that the investment portfolio mix of life insurance companies will remain largely stable in 2026, supported…
Agusto & Co Upgrades Heirs Insurance Group Ratings to ‘A1’, Highlighting Strong Growth and Stability
Nigeria’s leading credit rating agency, Agusto & Co., has upgraded the ratings of Heirs Insurance Group’s life and general insurance…
Guinea Insurance Premium Soars to N2.94bn as Shareholders Back Recapitalisation Plan
Guinea Insurance Plc has reported strong financial growth for 2024, with Gross Premium Written rising by 35.6 percent to N2.94…
NGX Lifts Suspension on Universal Insurance as Firm Meets Financial Reporting Obligations
The Nigerian Exchange Limited (NGX) has officially restored trading rights to Universal Insurance Plc, following the insurer’s compliance with its…
Insurance Firms Rush to Meet Sept 30 Recapitalisation Deadline Amid New NIIRA 2025 Guidelines
Insurance companies across Nigeria are racing against the September 30 deadline to submit their recapitalisation plans to the National Insurance…
Nigerian Insurance Sector Experiences 61% Growth in 2024, with Focus on Claims Innovation and Expansion
The Nigerian insurance industry has witnessed an impressive 61% growth as of the third quarter of 2024, as reported by…
Insurance Operators Urged to Drive Reforms for National Development
Insurance sector operators have been called upon to implement significant reforms aimed at improving the industry’s competitiveness and fostering its…
Experts Urge Balance Between AI and Human Resources in Insurance Industry
As technological advancements such as Artificial Intelligence (AI), Big Data, IoT, and Blockchain continue to transform industries, experts in the…
NAICOM Releases New Regulation on Annuity Business Underwriting
The National Insurance Commission (NAICOM) has introduced new regulatory requirements for life insurance companies underwriting annuity policies. This move aims…
Guinea Insurance Targets N1.75bn Gross Premium Written in Q1 2025
Guinea Insurance has projected a gross premium written (GPW) of N1.75 billion for the first quarter of 2025, according to…
Guinea Insurance Targets N1.75bn Premium Boost with Strategic Vision
Guinea Insurance has announced a projection of N1.75 billion in gross premium written for the first quarter of 2025. This…
PenCom Ensures Pension and Insurance Coverage for Over 38,000 Employers
The National Pension Commission (PenCom) has revealed that over 38,000 employers secured pension and insurance coverage for their workers in…
Leadway Assurance Plays Transformative Role in SMEs
Leadway Assurance has reaffirmed its commitment to supporting Small and Medium Enterprises (SMEs) by offering more than risk underwriting, positioning…
Capital Express unveils insurance group
Capital Express Group has officially unveiled its insurance arm, comprising two rebranded entities: Capital Express Life Assurance Limited and Capital…
NSIA Insurance donates furniture to school
NSIA Insurance Limited has donated furniture and school supplies to Government College, Victoria Island, Lagos, as part of its Corporate…
Continental Reinsurance gets positive ratings
Continental Reinsurance, a leading pan-African reinsurance company, has received a B+ financial strength rating and a long-term issuer credit rating…
Insurance firms eye N4.98bn profit in 2025
Three leading Nigerian insurance firms Cornerstone Insurance, AIICO Insurance, and International Energy Insurance have collectively projected a profit before tax…
NAICOM ICRC Set Agenda for Insurance of Public-Private Assets
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have agreed to collaborate to ensure proper insurance…
African Alliance Insurance pays N780m in claims to annuitants
African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its efforts to…
Public Private Partnership (PPP) Assets To Get Insurance Cover As From Next Year
The Infrastructure Concession Regulatory Commission (ICRC), in collaboration with the National Insurance Commission (NAICOM), will introduce new guidelines in 2025…
Finance and insurance sector grow economy by 30.83% on CBN rate hike
The finance and insurance sector recorded a 30.83% growth in real GDP in Q3 2024, driven by the Central Bank…