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...

Insurers Want NSE's Support For Recapitalisation   The Chairman of Nigerian Insurers Association, Mr Tope Smart, has asked the Nigerian Stock Exchange to assist the insurance companies in its bid to meet the new capital base prescribed by the National Insurance Commission. The commission had increased the...

Recapitalisation: Consolidated Hallmark Demand N3.9bn Capital Rise Consolidated Hallmark Insurance has revealed plans to raise its capital base from N6.1bn to N10bn in line with the National Insurance Commission directive on recapitalisation. NAICOM recently increased the minimum paid-up share capital of all classes of insurers, insurance...

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...