Nigerian insurers are facing their biggest claims on record after protests against police brutality turned violent, leading to large-scale looting and destruction. Risk underwriters all over the country are inspecting business sites and verifying claims following loss notifications from big …
Nigeria’s National Insurance Commission gave underwriters an additional year to recapitalize as companies deal with the effects of the coronavirus pandemic. The industry recapitalization program scheduled to end in 2020 must now be completed by September 2021, the agency said …
Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while it is effective immediately for the issue of …
Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new levels of capital by Jan. 1, according to …
Nigeria’s insurance industry is poised to enter a period of consolidation as companies struggle to raise cash to meet new regulatory requirements amid the worst economic contraction in more than two decades. With markets largely shut for companies to raise …
Emerging Capital Partners, a private-equity firm that has raised more than $2 billion for investments in Africa, is considering selling its majority stake in Nigeria’s Continental Reinsurance Plc. The buyout firm’s Africa Fund II is “exploring” the sale of C-Re …
