Regency Alliance Insurance Completes ₦6bn Recapitalisation
Regency Alliance Insurance Plc has filed a press release dated 3 August 2026 disclosing the completion of a multi-phased capital raising programme comprising a Rights Issue and a Private Placement. The filing provides an update on the company's recapitalisation efforts in compliance with the Nigerian Insurance Industry Act 2025.
Regency Alliance Insurance Plc has announced the successful completion of both a Rights Issue and a Private Placement, both concluded in July 2026. The Rights Issue generated ₦2,540,666,000.00, while the Private Placement raised ₦3,500,000,000.00, bringing the total capital raised to ₦6,040,666,000.00.
The company states that this amount, combined with its existing admissible assets less admissible liabilities, will position it above the ₦15 billion minimum capital requirement for general insurance companies prescribed by the Nigerian Insurance Industry Act (NIIRA) 2025.
Proceeds from both exercises have been transferred to a dedicated Central Bank of Nigeria (CBN) account. The Securities and Exchange Commission (SEC) has granted approval for the allotment of shares from both the Rights Issue and the Private Placement, and processing is currently underway.
Regency Alliance also disclosed that relevant verification documents have been submitted to the National Insurance Commission (NAICOM), and the company is currently undergoing a verification exercise. The company expressed confidence that it will be found fully compliant upon completion of the verification.
