NAICOM Considers Capital Upgrade for Takaful and Microinsurance Firms
The National Insurance Commission (NAICOM) is considering a capital upgrade for Takaful and microinsurance firms as part of the ongoing recapitalization exercise in the insurance industry. NAICOM is evaluating subsectors within the insurance industry to determine the best capital requirements for Takaful and microinsurance companies to effectively cover risks.
The regulator aims to ensure that players in the informal sector of the economy are not overwhelmed during the recapitalization process. Commissioner Olusegun Omosehin confirmed NAICOM's intention to enhance the capitalization of microinsurance and Takaful firms to improve their business operations and increase asset replacement values, emphasizing the critical nature of the exercise for the sector's growth.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
Read full article
Continue on Leadership Newspaper
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Insurance: NavigatingNAICOM’s Recapitalisation Directive
NAICOM to Review Insurance Operators' Recapitalization Plans in Nigeria
NGX Sees ₦344bn Market Cap Increase This Week
Sunrise Power's Leno Adesanya Denies Political Ties
Dangote Refinery Boosts Nigeria's Petrol Supply in August
Bagudu Warns Nigeria's Economy Insufficient for Growth
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
