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.
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.
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.
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.
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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 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 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.
International Energy Insurance Plc brings insurance education directly to Tejuosho Market traders, aiming to bridge knowledge gaps and rebuild trust through grassroots engagement.
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.
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Despite strong growth rates, Nigeria's insurance industry contributes minimally to GDP, highlighting structural issues like low penetration and weak enforcement of compulsory insurance.
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, 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.
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 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.
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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.
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.
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.
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.
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.
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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 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.
Discover the leading insurance brokers in Nigeria for 2026, offering reliable protection, risk management, and seamless claims processing for individuals and businesses.
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.
Prudential Zenith Life Insurance celebrated its top sales performers at a gala night themed 'Driven'. The event on January 9, 2026, recognised Emerald, Diamond, and MDRT achievers, awarding them international trips. MD Funmi Omo highlighted the company's
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The Nigerian Insurers Association says 2026 is a decisive year for enforcing reforms, boosting governance, and expanding insurance market penetration. Read the full strategy.
Universal Insurance Plc CEO Japhet Duru reveals a 2026 strategy focused on digital innovation to enhance customer experience and expand market share. Learn how technology is reshaping Nigeria's insurance sector.
Only 18 out of over 50 insurers are ready for NAICOM's capital verification ahead of the July 30 deadline. The exercise aims to strengthen the sector and boost claims payment. Read more.
Nigerian insurance operators warn that a proposal to grant foreign insurers tax exemptions on local premiums could cripple domestic firms and undermine industry reforms. Read the full analysis.
Leadway Assurance begins validating thousands of African Alliance retirees to ensure seamless annuity payments. This NAICOM-backed move aims to protect retirees' financial security amidst rising living costs. #Insurance #Nigeria
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Nigeria's insurance sector sees a surge in investor interest driven by NAICOM's reforms and the 2026 recapitalisation deadline. Commissioner Segun Omosehin outlines the push for stronger, credible insurers. Read the full analysis.
