Prestige Assurance Completes Recapitalisation for Growth

Prestige Assurance Plc has successfully completed its recapitalisation programme, marking a significant milestone in its corporate evolution and reinforcing its status as a financially resilient insurance company in Nigeria. This achievement aligns with the recapitalisation requirements set by the National Insurance Commission and significantly strengthens the company's capital base.

Umesh Rathod, the Managing Director/Chief Executive Officer of Prestige Assurance Plc, described the recapitalisation as a collective achievement, emphasizing the importance of stakeholder confidence. He stated that this milestone enhances the company's capacity to underwrite larger and more complex risks while improving claims settlement and customer service.

The recapitalisation also positions Prestige Assurance to play a vital role in supporting Nigeria's economic growth across various sectors, including infrastructure and manufacturing. Rathod expressed gratitude to stakeholders for their loyalty and support, highlighting the company's commitment to professionalism, transparency, and innovation as it enters a new growth phase.