The National Insurance Commission (NAICOM) on Thursday confirmed seven additional insurance companies that have met the minimum capital requirements for recapitalization.
The new firms and their categories include two in the Life Insurance category and five in the non-Life Insurance category.
They include in the non-Life category: emPLE General Insurance Limited, Sovereign Trust Insurance PLC, Alliance & General insurance PLC, Guinea insurance PLC and Regency Alliance Insurance PLC, while the other two – emPLE life assurance Limited and Tangerine Life Insurance Limited are in the Life Insurance category.
With the latest development, NAICOM said a total of 50 insurance companies, consisting 48 insurance companies and two reinsurance companies, have been confirmed and verified as compliant with the Minimum Capital Requirements stipulated under the NIIRA 2025 and applicable insurance laws and guidelines.
