Nigeria’s insurance recapitalisation programme is progressing steadily as operators prepare to meet the July 31, 2026 statutory deadline set by the National Insurance Commission (NAICOM).
SUNU Assurances Nigeria Plc announced that its Board of Directors approved a plan to raise N9.34 billion through a Rights Issue for existing shareholders at a meeting held on February 9, 2026.
Lasaco Assurance Plc also marked a key milestone after securing formal commitment letters from shareholders following its recent Extraordinary General Meeting (EGM).
Meanwhile, Fortis Global Insurance Plc, which recently had its share suspension lifted, is set to hold its Annual General Meeting (AGM) on February 12, 2026. Shareholders are expected to approve a resolution authorising the Board to raise additional capital to meet NAICOM’s minimum capital requirement.
Analysts expect more insurers to announce capital-raising initiatives in the coming weeks as the industry intensifies efforts to comply with the recapitalisation framework ahead of the regulatory deadline
