Wednesday, July 9, 2025

INSURANCE

INSURANCETOP STORY

Reps pass Insurance reform bill, set minimum capital base

The House of Representatives on Wednesday passed the bill to reform the insurance sector in Nigeria, seeking the recapitalisation of insurance companies in the country, while providing stiffer penalties for defaulters. The law, which recognizes two classes of insurance in the country (life and non-life insurance), increase minimum capital requirement...
INSURANCETOP STORY

NAICOM, World Bank collaborate to strengthen Nigeria’s insurance sector

The National Insurance Commission (NAICOM) has initiated discussions with the World Bank to explore opportunities for collaboration aimed at addressing key challenges and driving growth in Nigeria’s insurance sector. During a courtesy visit by the World Bank delegation, the Commissioner for Insurance, Olusegun Ayo Omosehin, identified the insufficient actuarial capacity...
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