Regency Alliance Insurance Launches N3bn Rights Issue

Regency Alliance Insurance Plc announced a N3 billion rights issue to strengthen its capital base and expand operations. The unveiling took place during a signing ceremony at the company's headquarters in Lagos, attended by board members, management, and stakeholders.

Chairman Wale Taiwo emphasized that the rights issue, structured on new ordinary shares of 50 kobo for every five ordinary shares held, provides existing shareholders the opportunity to increase their stakes and protect against dilution. Managing Director Bode Oseni highlighted that the capital raised will accelerate the company's digital transformation and improve claims efficiency, enabling the introduction of innovative products tailored for SMEs and underserved segments across Nigeria.

The rights issue is a pivotal moment for Nigeria's insurance industry, coinciding with regulatory-driven recapitalization efforts by the National Insurance Commission to strengthen the sector's capital base and solvency ratios. The subscription period for eligible shareholders will open on June 22, 2026, and close on July 3, 2026.