August 15, 2025/CSL Research The National Insurance Commission (NAICOM) has given insurance companies a one-year deadline to increase their capital bases in compliance with the recapitalisation requirements outlined in the recently approved Insurance Industry Reform Act. Under the new rules, non-life insurers must raise their capital base from ₦3 billion […]
Insurance
Insurance Act 2025 – Another Dose to Accelerate Nigerian Economic Prosperity
August 6, 2025/United Capital Report Bottomline: President Bola Tinubu has signed into law the Nigerian Insurance Industry Reform Act (NIIRA) 2025, a landmark legislation that repeals and consolidates several outdated insurance laws into a modern, unified framework. The NIIRA 2025 provides for comprehensive regulation and supervision of all insurance and reinsurance businesses operating within […]
ICIEC Approves 2024 Annual Report and Audited Financial Statements – $13Bn in Business Insured in 2024
To drive operational excellence, ICIEC refined its pricing framework and enhanced economic capital models, ensuring more sustainable, risk-adjusted growth May 26, 2025/ICIEC The Islamic Corporation for the Insurance of Investment and Export Credit, a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, today announced that its Board […]
