Sovereign Trust Insurance Meets NAICOM Recapitalisation Goals

Sovereign Trust Insurance Plc has announced that it has successfully fulfilled the new recapitalisation requirements for non-life insurance companies as mandated by the National Insurance Commission (NAICOM) under the Nigeria Insurance Industry Reform Act (NIIRA) 2025. This achievement is seen as a reinforcement of the company's financial strength and its commitment to long-term growth.

Dr. Lucas Durojaiye, the Managing Director/Chief Executive Officer, described this milestone as significant in the company's journey towards building a stronger and more resilient insurance business. He emphasized that this accomplishment reflects the confidence of shareholders and stakeholders in the company's strategic direction and growth prospects.

Durojaiye stated that the company is focused on delivering sustainable value to policyholders, shareholders, brokers, agents, and other stakeholders while leveraging technology and innovation to enhance insurance penetration across Nigeria.