The National Insurance Commission (NAICOM) has directed insurance and reinsurance firms to submit their recapitalisation plans to the Commission by August 20.
This is coming as the deadline for firms to meet up with the commission’s directive to increase their capital narrows from 13 months to nine months.
In May, NAICOM increased the minimum paid-up share capital of a life insurance firm to N8 billion, non-life N10 billion and composite insurance firms N18 billion and re-insurance firms...
NAICOM to insurers, reinsurers: submit your recapitalisation plans - The Nation
This is coming as the deadline for firms to meet up with the commission’s directive to increase their capital narrows from 13 months to nine months.
In May, NAICOM increased the minimum paid-up share capital of a life insurance firm to N8 billion, non-life N10 billion and composite insurance firms N18 billion and re-insurance firms...
NAICOM to insurers, reinsurers: submit your recapitalisation plans - The Nation