REGALINS Regency Alliance Insurance Statutory Deposit Update 2026
Regency Alliance Insurance Plc filed a press release dated 9th June 2026 disclosing full compliance with the statutory deposit requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The filing states the company made a fresh deposit of ₦1.2 billion to the Central Bank of Nigeria on 29th May 2026, bringing its total statutory deposit balance to ₦1.5 billion.
Regency Alliance Insurance Plc (REGALINS) has issued a press release confirming that it has met the statutory deposit requirement prescribed under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
According to the filing dated 9th June 2026, Regency made a statutory deposit of ₦1.2 billion to the Central Bank of Nigeria on Friday, 29th May 2026. This payment brings the company's total statutory deposit balance (SDL) to ₦1.5 billion.
The company stated that the ₦1.5 billion figure represents 1.0% of the minimum capital requirement applicable to non-life insurance companies under the current regulatory framework.
Regency described the statutory deposit compliance as a significant step in its broader recapitalisation effort and noted that the company remains committed to achieving full recapitalisation before the regulatory deadline. No specific deadline date was disclosed in this filing.
The filing was signed off by the company's board and management, which includes Acting Chairman Chief Wale Taiwo SAN and Managing Director Mr. Bode Oseni, among other directors. Regency Alliance Insurance Plc is authorised and regulated by the National Insurance Commission (NAICOM), with RC number 034.
