NIIRA 2025 Signed: Defining Moment for Insurance Sector
President Bola Tinubu signs the Nigerian Insurance Industry Reform Act 2025, hailed as a transformative step for regulatory maturity, capital requirements, and policyholder protection.
Category : Insurance
Insurance Assets Hit N4.8 Trillion in Nigeria Q4 2025
Nigeria's insurance industry saw total assets grow by 7.4% to N4.79 trillion in Q4 2025, driven by premium growth and improved risk retention, with non-life and life segments showing balanced expansion.
Insurance as Self-Care: New Wellness Approach for Nigerian Women
Heirs Insurance Group and United Capital hosted the Yoga and Money Meet Up, blending physical wellness with financial protection. The event introduced HerMotor insurance, offering 24/7 roadside assistance for women, framing insurance as essential self-car
Yoga & Money Event Empowers Ambitious Nigerian Women
Heirs Insurance Group and United Capital Plc partnered to host an exclusive wellness and financial empowerment event in Lagos, combining yoga sessions with expert-led discussions on insurance, investment, and asset protection for ambitious women.
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Sunu Assurances Plc Raises N9.34 Billion via Rights Issue
Sunu Assurances Plc has secured internal approvals for a N9.34 billion capital raise through a rights issue, aiming to strengthen its financial base and expand in Nigeria's competitive insurance market.
Home Insurance: Essential in Nigeria, Key Factors & Oversights
In Nigeria, home insurance is increasingly vital due to rising costs, climate risks, and legal requirements. This article explores why it's non-negotiable and what many homeowners still overlook in their financial planning.
AXA Mansard Renews Herconomy Partnership for Women's Finance
AXA Mansard Insurance Plc has renewed its sponsorship of the Herconomy Conference 2026, focusing on financial inclusion and economic empowerment for women through initiatives like the Enterprise Challenge.
Insurance Sector Grows as AXA Mansard Revenue Hits N160.6bn
Nigeria's insurance industry shows resilience with AXA Mansard reporting 22% revenue growth to N160.56 billion for 2025, though profits declined due to foreign exchange volatility and regulatory changes.
NAICOM Issues Policyholder Fund Guidelines, May 31 Deadline
The National Insurance Commission has released guidelines for the Insurance Policyholders' Protection Fund, with a compliance deadline of May 31, 2026, to safeguard policyholders from insurer insolvency.
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NAICOM Raises Microinsurance Capital to N3 Billion
The National Insurance Commission has increased the minimum capital for national microinsurance operators to N3 billion, aiming to enhance financial inclusion and trust among low-income populations.
NAICOM, Stakeholders Praise New Insurance Industry Book
Stakeholders in Nigeria's insurance industry, led by NAICOM, have commended a new book documenting the sector's evolution from 2005 to 2026, highlighting its role in enhancing knowledge and institutional memory.
Policyholders Become Co-Owners via Blockchain Insurance
MAIDS launches Nigeria's first blockchain-enabled mutual insurance model, approved by NAICOM, shifting policyholders to active co-owners with tokenized premiums and profit-sharing to boost transparency and access.
AXA Mansard Health Backs AMSA Conference for Healthcare Innovation
AXA Mansard Health Limited sponsors the 2026 Association of Medical Students of Africa Conference, signaling a strategic push for healthcare innovation and talent development across the continent.
Mutual Benefits Pays N4.2bn Claims, Strengthens Trust
Mutual Benefits Assurance Plc disbursed N4.2 billion in claims in February 2026, with N2.33 billion for General Insurance and N1.97 billion for Life policies, reinforcing its commitment to policyholders and economic stability.
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IEI Sparks Insurance Awakening Among Lagos Market Traders
International Energy Insurance Plc brings insurance education directly to Tejuosho Market traders, aiming to bridge knowledge gaps and rebuild trust through grassroots engagement.
Nigeria Hosts ECOWAS Brown Card Stakeholders in Lagos for 2026 Talks
Nigeria will convene key stakeholders from West Africa for the 2026 ECOWAS Brown Card zonal meeting in Lagos, focusing on digital strategies to enhance cross-border motor insurance and claims settlement.
Insurance Growth High but GDP Impact Low in Nigeria
Despite strong growth rates, Nigeria's insurance industry contributes minimally to GDP, highlighting structural issues like low penetration and weak enforcement of compulsory insurance.
Insurance Leaders Seek Presidential Support to Cut Red Tape
Nigerian insurance stakeholders call for urgent presidential intervention to remove structural bottlenecks and enforce policies, aiming to deepen low penetration and align with national economic goals.
AfrexInsure Names Lesley Ndlovu as New Chief Executive Officer
AfrexInsure, the specialty insurance arm of Afreximbank, has appointed Lesley Ndlovu as its new CEO, replacing Jonas Mushosho. The move aims to strengthen trade insurance and investment risk coverage across Africa.
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Coronation Life CEO Lists Financial Security Benefits
Adebowale Adesona, CEO of Coronation Life Assurance, emphasizes life insurance as a key tool for long-term financial security, promoting the 'Insure & Win 2.0' raffle draw with prizes like generators and a car.
Guinea Insurance Launches N5.8bn Rights Issue for Recapitalisation
Guinea Insurance has initiated a N5.8 billion rights issue to meet the July 31 recapitalisation deadline set by NAICOM. The company is offering 5.29 billion shares at N1.1 each to strengthen its capital base and expand services.
Lasaco Assurance Ramps Up ESG Adoption for Sustainability
Lasaco Assurance Plc embeds environmental, social, and governance principles into its operations to enhance governance, risk management, and long-term growth in Nigeria's insurance sector.
Herders Get N181.9 Million Claims in Nigeria's Insurance Scheme
Livestock herders in Adamawa, Bauchi, and Plateau states have received N181.9 million in claims under the Index-Based Livestock Insurance scheme, highlighting the growth of agricultural insurance in Nigeria.
Insurers Urge NAICOM to Modify NIN-Policy Linkage Directive
Insurance firms and brokers have requested the National Insurance Commission to adjust the requirement linking policyholders' records to the NIN database, citing operational challenges with the April 30 deadline for compliance.
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Rex Insurance, NiMet Unveil Weather Index Cover for Farmers
Rex Insurance Limited partners with the Nigerian Meteorological Agency to introduce weather-driven index insurance products, aiming to protect smallholder farmers from climate risks and enhance agricultural resilience across Nigeria.
20 Insurers Move to Capital Verification in Nigeria
Twenty insurance companies have submitted readiness for capital verification under NAICOM's recapitalisation exercise, aiming to strengthen the sector's financial resilience ahead of the July 30 deadline.
Middle East Crisis Spikes Reinsurance Costs for Nigerian Insurers
The National Insurance Commission warns that escalating Middle East conflicts could increase global reinsurance rates, impacting Nigerian insurers reliant on offshore capacity for high-risk underwriting.
SUNU Assurances N9.3bn Rights Issue for Insurance Recapitalization
SUNU Assurances Nigeria Plc plans to raise N9.3 billion through a Rights Issue to strengthen its capital base and comply with new N15 billion minimum capital requirements for non-life insurers under Nigeria's Insurance Industry Reform Act.
Top Insurance Brokers in Nigeria for 2026: Expert Protection
Discover the leading insurance brokers in Nigeria for 2026, offering reliable protection, risk management, and seamless claims processing for individuals and businesses.
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Leverage and Margin Settings Transform Nigerian Trader Psychology
In Nigeria's online trading scene, broker leverage and margin settings significantly influence trader psychology, risk perception, and decision-making processes, often determining success more than market analysis alone.
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