NAICOM Cancels Insurance Capitalization
Quote from Ndubuisi Ekekwe on November 24, 2018, 10:18 AMInsurance is just a hard business in Nigeria. The industry regulator, NAICOM, has cancelled its plan to capitalize the players partly because shareholders sued that they do not want that.
The National Insurance Commission has cancelled the Tier Based Solvency Capital recapitalisation of the underwriting sector with immediate effect.
The commission gave this notice in a circular to all insurance companies on ‘Withdrawal of circular on Tier Based Solvency Capital policy for insurance companies in Nigeria’, which was signed by the Director, NAICOM, Mr Agboola Pius, on Friday
Insurance is just a hard business in Nigeria. The industry regulator, NAICOM, has cancelled its plan to capitalize the players partly because shareholders sued that they do not want that.
The National Insurance Commission has cancelled the Tier Based Solvency Capital recapitalisation of the underwriting sector with immediate effect.
The commission gave this notice in a circular to all insurance companies on ‘Withdrawal of circular on Tier Based Solvency Capital policy for insurance companies in Nigeria’, which was signed by the Director, NAICOM, Mr Agboola Pius, on Friday
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