43 Insurance Firms Meet Nigeria's 2025 Capital Requirements

NAICOM confirms 43 insurers, reinsurers meet NIIRA 2025 capital requirements (realnewsmagazine.net)

The National Insurance Commission, NAICOM, has confirmed that 43 insurance and reinsurance companies have met the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The announcement was made in a public notice issued in Lagos on Monday.

The verified companies include both life and non-life insurers, as well as composite firms. NAICOM stated that these companies have successfully met the updated capital thresholds, which aim to strengthen the financial stability of the insurance sector. The regulator emphasized that the compliance reflects the industry’s adherence to regulatory standards.

The NIIRA 2025 reforms were introduced to modernize the insurance sector and ensure it can withstand economic uncertainties. NAICOM continues to monitor compliance and may take further action against firms that fail to meet the requirements.

43 Insurance Firms Meet Nigeria's 2025 Capital Requirements

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