by NIyi Jacobs
Nigeria’s insurance recapitalisation programme is progressing steadily, with operators continuing internal preparations to meet the July 30, 2026, statutory deadline set by the National Insurance Commission (NAICOM).
Market intelligence indicates that Heirs Insurance Group (Life and Non-Life) has already achieved the N25 billion recapitalisation threshold, reflecting strong performance among well-capitalised insurers. Other recapitalisation exercises remain in focus, including Linkage Assurance Plc’s planned Rights Issue of 12.3 billion shares at N1.32 per share, and Guinea Insurance Plc’s Rights Issue of 5.3 billion shares at N1.10 per share, both structured on a two-for-three basis.
Universal Insurance Plc has secured shareholder approval to raise up to N15 billion through public offers, rights issues, or private placements, pending regulatory approvals.
Analysts expect heightened activity in the sector as the deadline approaches, with increased capital-raising, board restructuring, and potential mergers or strategic alliances, particularly among mid-tier and smaller insurers looking to strengthen their positions post-recapitalisation
