The National Insurance Commission (NAICOM) has reaffirmed the its commitment to unlock the potential of Takaful for expanding insurance penetration. Mr Olusegun Omosehin, the Commissioner for Insurance/Chief Executive of NAICOM made this known in a statement on Saturday in Abuja. Omosehin said that the commitment was reaffirmed at a just …
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The National Insurance Commission (NAICOM) says seven additional insurance companies have been verified for the mininum capital requirements under Nigerian Insurance Industry Reform Act (NIIRA 2025). The management of NAICOM, said this in a statement issued on Thursday in Abuja. The licence number name of insurer category are LIC 042 …
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…as NAICOM appoints Muiz Banire as Receiver/Liquidator The operating licence of the Nigeria Reinsurance Corporation has been revoked over alleged failure to meet the statutory Minimum Capital Requirement (MCR). The revocation was executed by the National Insurance Commission (NAICOM), which subsequently appointed renowned legal luminary and Senior Advocate of Nigeria, …
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The National Insurance Commission (NAICOM) has presented new licence certificates to insurance companies that successfully met the Commission’s new minimum capital requirements. The Commisoner for Insurance, NAICOM, Mr Olusegun Omosehin, said this in a statement issued on Wednesday in Abuja. Omosehin said the issuance of the new licences marked a …
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The Senate has passed a bill for the renaming of the National Insurance Commission (NAICOM) as Insurance Regulatory Commission. According to the Senate, the change to the new name is imperative against the backdrop that the former name is confusing given the history and make-up of the Nigerian Insurance Industry. …
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THE National Insurance Commission (NAICOM) has commended the Nigerian Council of Registered Insurance Brokers (NCRIB) for promoting compliance and professionalism within Nigeria’s insurance industry. The Commissioner for Insurance (CFI), Mr Olusegun Omosehin, said this while receiving a delegation from NCRIB in Abuja, led by its President, Mr Babatunde Oguntade, and …
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National Insurance Commission (NAICOM) has launched a newly redesigned website, aimed at improving user experience, transparency, and efficiency. The commission disclosed this in a statement in Lagos on Wednesday. It said,“The revamped website is designed to provide easy access to information on insurance regulations, policies, and industry developments. “Key features …
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THE National Insurance Commission (NAICOM) has issued operational guidelines for Insurtech businesses in the country to enhance insurance services. A statement by NAICOM in Abuja on Wednesday, said the guidelines would take effect from Aug. 1 to provide clear and unified regulatory framework for licensing, operations, and supervision of Insurtech …
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The National Insurance Commission (NAICOM) has called for increased public awareness and engagement in the insurance sector as a critical step toward securing Nigeria’s economic future. Mr Olusegun Omosehin, Commissioner for Insurance and Chief Executive Officer of NAICOM made the call on Monday during the ongoing maiden edition of Insurance …
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THE National Insurance Commission (NAICOM) says it is determined to flush out illegal and fake insurance operators defrauding, deceiving and misleading the public for their selfish interests. NAICOM said this in a notice on Tuesday in Abuja while reacting to a statement by the National Cooperative Insurance Society of Nigeria …
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