Universal Insurance UNIVINSURE ₦7.128bn Recapitalisation Deal
Universal Insurance Plc has filed a corporate action announcement dated 14 August 2026 disclosing a binding investment agreement with FPNG Co-Nvest Limited. The filing details a ₦7.128 billion equity injection via private placement that will give FPNG a 50.1% majority shareholding in the company upon completion.
Universal Insurance Plc (UNIVINSURE) has announced that it entered into a binding investment agreement with FPNG Co-Nvest Limited, under which FPNG will invest ₦7.128 billion of equity capital into the company through a private placement in exchange for newly issued shares. The announcement was made in response to a request from NGX Regulation Limited (NGX RegCo), following a publication on 3 August 2026 that listed forty-three insurance firms that had met NAICOM's recapitalisation threshold.
Upon conclusion of the transaction, FPNG Co-Nvest Limited will hold a majority equity stake of 50.1% in Universal Insurance. The company stated that the transaction, once finalised, will enable it to exceed its regulatory capital requirements and maintain what it describes as a robust solvency margin.
The company disclosed that all required board and shareholder approvals for the transaction have been obtained. It is currently engaging with the National Insurance Commission (NAICOM) and other relevant regulators to progress the next steps. Universal Insurance committed to keeping NGX, its shareholders, and the investing public informed of material developments in line with NGX Issuers' Rules.
