By Niyi Jacobs
The National Insurance Commission (NAICOM) has granted an operational license to NPF Insurance Co. Ltd, empowering the company to commence general insurance services in Nigeria. The milestone was marked by a brief ceremony held today, November 29, 2024, in Abuja.
The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, officially presented the license to NPF Insurance, commending the firm for meeting all necessary regulatory requirements.
The issuance of the license signals the company’s readiness to contribute to Nigeria’s insurance sector, offering diverse general insurance products to individuals and businesses.
Speaking at the event, Mr. Omosehin reaffirmed NAICOM’s commitment to expanding the insurance industry’s reach and fostering economic resilience through robust regulatory oversight. He expressed confidence in NPF Insurance’s capacity to deliver quality services and expand the penetration of insurance in Nigeria.
With this development, NPF Insurance joins the ranks of licensed operators in the country’s competitive insurance market. The company is expected to play a role in deepening insurance coverage, promoting risk management, and supporting financial inclusion efforts.
The introduction of NPF Insurance marks another step in NAICOM’s drive to enhance the vibrancy and inclusiveness of Nigeria’s insurance ecosystem.
