Reps halt Dec 31 deadline for Insurance recapitalisation

The House of Representatives has directed the National Insurance Commission (NAICOM) to suspend the December 31, 2020 deadline given to Insurance and Reinsurance companies in Nigeria. The directive by NAICOM is to increase the companies minimum paid-up capital for six months beginning from January 2021 as a way of cushioning the effect of the Covid-19... Continue Reading →

23 insurers risk sanctions

Barely three weeks to the December 31 deadline given to insurance companies to reach 50 per cent of the new capital threshold, 23 companies are yet to kick-start the process of meeting the benchmark. About 14 companies are on the verge of meeting the deadline, while 10 firms might have met or surpassed the requirements... Continue Reading →

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