Recapitalisation: NAICOM Solicits Agencies' Support For Insurers   The National Insurance Commission is engaging other regulatory bodies on how to assist the insurance companies to meet up with its recapitalisation requirements. The Acting Commissioner for Insurance, Mr Sunday Thomas, said this during a one-day conference on the...

NAICOM May Kick Against Insurers' Recapitalisation Plan The National Insurance Commission may reject the plans submitted by some insurance companies on how they planned to meet its recapitalisation requirements. Sources from the commission told our correspondent that some of the companies submitted plans to the commission...

NAICOM Appoints Fajemirokun As AIICO's MD   The National Insurance Commission has approved the appointment of Mr Babatunde Fajemirokun as the managing director and chief executive officer of AIICO Insurance Plc with effect from August 14. Prior to Fajemirokun’s appointment, Mr Edwin Igbiti was the managing director/chief...

Recapitalisation: Foreign Investors Take Over Insurance Firms   Many indigenous underwriting firms have been taken over by foreign investors since the last recapitalisation that took place in the insurance sector, investigation has shown. The National Insurance Commission confirmed that a number of local players in the insurance...

NAICOM Bars Regulated Firms From Borrowing To Recapitalise The National Insurance Company has barred regulated entities from borrowing money to meet their recapitalisation requirements. The Director, (Policy & Regulation), NAICOM, Agboola Pius, said this while speaking on the topic, ‘Recapitalisation roadmap: Implementation, expectation and benefits’, during...

NAICOM Orders Operators To Submit Recapitalisation Plan   The National Insurance Commission (NAICOM) has said sequel to its directive to insurance and reinsurance firms to raise their capital base, operating firms have August 20th, 2019, to submit their recapitalisation plans. Also, firms that have decided to adopt...