Linkage Assurance Completes N16.2bn Rights Issue Successfully

Linkage Assurance Plc has announced the successful completion of its N16.2 billion rights issue, which involved the issuance of 12.32 billion ordinary shares priced at N1.32 per share. The rights issue opened on March 11, 2026, and closed on April 23, 2026, receiving full subscription from shareholders.

Following approval from the Securities and Exchange Commission, all shares have been allotted and admitted for trading on the Nigerian Exchange Limited. This capital raise is part of the company’s response to the National Insurance Commission’s recapitalisation programme, aimed at enhancing the industry's capacity to underwrite larger risks and improve financial resilience.

The proceeds will primarily meet the new minimum capital requirement set by NAICOM and fund strategic business expansions. Linkage Assurance emphasized its commitment to regulatory compliance, innovative insurance solutions, and sustainable growth, positioning itself to capitalize on emerging opportunities in Nigeria’s evolving insurance market.