NAICOM Defends Minimum Capital Rules for Insurtech Firms
The National Insurance Commission (NAICOM) has defended its minimum capital requirement for insurtech firms, insisting that the regulation is essential ...
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Tag: #NAICOM
NAICOM, Brokers Forge Stronger Ties Ahead of Insurance Reform Act 2025
The National Insurance Commission (NAICOM) and the Nigerian Council of Registered Insurance Brokers (NCRIB) have agreed to deepen cooperation as ...
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NAICOM Cracks Down on Fake Motor Insurance in Abuja
The National Insurance Commission (NAICOM) has intensified efforts to eradicate fake insurance policies, launching an enforcement raid in the Mabuchi ...
Read moreNAICOM, SEC Forge Stronger Ties to Support Insurance Industry Recapitalisation
The ongoing recapitalisation of Nigeria’s insurance industry received a boost on Tuesday as the National Insurance Commission (NAICOM) and the ...
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New Insurance Law Mandates Cover for Petrol, Gas Stations and Transporters
The Nigerian Insurance Industry Reform Act (NIIRA), recently signed into law by President Bola Ahmed Tinubu, now makes it mandatory ...
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New Law Imposes Heavy Penalties on Insurers for Delayed Claims Payments
Insurance companies in Nigeria now face tougher sanctions for delaying the settlement of claims beyond 60 days after notification, following ...
Read moreNAICOM Sets Up 2025 Recapitalisation Committee to Drive Insurance Sector Reform
The National Insurance Commission (NAICOM) has inaugurated the 2025 Recapitalisation Committee, marking a major step towards overhauling Nigeria’s insurance industry ...
Read moreInsurance Firms Cede 40.7% of Business Abroad in Q1, Retain 59.3% Locally
Insurance companies in Nigeria ceded 40.7% of their business to foreign reinsurers in the first quarter of 2025, retaining an ...
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Nigeria’s Insurance Sector Assets Hit N4.2tn in Q1 2025, Gross Premium Soars 63.4%
Nigeria’s insurance sector recorded a robust 27.3% year-on-year asset growth in the first quarter of 2025 (Q1 2025), with total ...
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NAICOM Unveils Five Strategic Priorities to Strengthen Nigeria’s Insurance Industry
The National Insurance Commission (NAICOM) has outlined a strategic plan to enhance the safety, soundness, and competitiveness of Nigeria's insurance ...
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