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NAICOM Confirms Seven More Insurers Compliant With New Capital Requirements
The National Insurance Commission (NAICOM) has confirmed and verified seven additional insurance companies as compliant with the minimum capital requirements stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and applicable insurance laws and guidelines. The Commission made this known in a public notice signed by its management and……
The National Insurance Commission (NAICOM) has confirmed and verified seven additional insurance companies as compliant with the minimum capital requirements stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and applicable insurance laws and guidelines.
The Commission made this known in a public notice signed by its management and dated August 13, 2026, listing the seven insurers and their respective licence numbers and categories.
The newly confirmed companies are emPLE General Insurance Limited (LIC 042), a non-life insurer; emPLE Life Assurance Limited (LIC 043), a life insurer; Sovereign Trust Insurance Plc (LIC 044), a non-life insurer; Tangerine Life Insurance Limited (LIC 045), a life insurer; Alliance & General Insurance Plc (LIC 046), a non-life insurer; Guinea Insurance Plc (LIC 047), a non-life insurer; and Regency Alliance Insurance Plc (LIC 048), a non-life insurer.
NAICOM said the latest confirmation brings the number of insurance companies that have been verified as meeting the minimum capital requirements to 48, alongside two reinsurance companies.
Read Also: NAICOM Tasks Insurers on Trust, Innovation Ahead of Recapitalisation Deadline
“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,” the Commission said.
The latest announcement marks the conclusion of the insurance industry recapitalisation exercise, which was designed to strengthen the financial capacity and resilience of insurance companies operating in Nigeria.
NAICOM urged the general public and other stakeholders to take note of the list of companies confirmed as compliant with the new capital requirements.
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