By Adeola Akinbobola
The National Insurance Commission (NAICOM) has presented new licence certificates to 43 insurance companies that successfully met the Commission’s new minimum capital requirements for operators in the sector.
The Commissioner for Insurance, NAICOM, Mr Olusegun Omosehin, said this in a statement issued on Wednesday in Abuja.
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Omosehin said the issuance of the new licences marked a significant milestone in the recapitalisation programme.
He said that the development signaled the beginning of a new regulatory era focused on stronger capitalisation, improved corporate governance, and enhanced product innovation.
He said it would help the commission’s broader drive to build a stronger, more resilient, and globally competitive insurance industry in Nigeria.
The commissioner urged the companies to leverage their enhanced capital base to drive innovation, develop new products, and deepen insurance penetration across the country.
He said that the commission had high expectations for professionalism, innovation, operational efficiency,
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