30 results
- 30 Sept 2024
NAICOM Highlight Strategies to Achieve Insurance Penetration Across Nigeria
The National Insurance Commission (NAICOM), has highlighted five strategies it will adopt to achieve insurance accessibility and penetration across the country. The commission said these strategies…
- 6 Jun 2021
NAICOM Set to Commence Risk Based Supervision in Nigeria’s Insurance Sector
The National Insurance Commission, NAICOM is set to commence implementation of the Risk Based Supervision (RBS) policy. According to the Commission, this policy will take off in the next two months.…
- 21 Jul 2026
Senate Passes Landmark Insurance Reform Bill, Replaces 1997 NAICOM Act
The Senate yesterday recorded two major milestones in Nigeria’s financial sector, passing a landmark Insurance Regulatory Commission Bill to replace the nearly three-decade-old National Insurance…
- 4 Nov 2025
Firms Eye Fintech Model for Insurance
Technology firms (InsurTechs) are working to secure the approval of the National Insurance Commissions (NAICOM) to drive insurance products in Nigeria. So far, Mp-Platform Ltd, Insurance Hub Nig.…
- 27 Feb 2025
NAICOM Urges Nigerian Insurers to Develop Cyber Insurance Products
National Insurance Commission (NAICOM) has urged Nigerian insurance companies to develop and introduce cyber insurance products. This is in response to the escalating digital risks accompanying…
- 4 Jun 2021
Nigeria’s Insurance Industry Embraces Digital & Market Dev. Strategies
Nigeria’s insurance industry regulatory agency, is considering pragmatic steps that will bring about overall transformation of the sector and make it attractive and viable. The National Insurance…
- 22 Nov 2024
Data Commission, NAICOM Partner to Safeguard Data in Insurance Industry
Nigerian Data Protection Commission (NDPC) and National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to protect data pilfering in the insurance industry. The…
- 12 Jan 2025
NAICOM Seeks Police’s Support to Enforce Third-party Motor Insurance
National Insurance Commission (NAICOM) has sought the support of the Nigeria Police Force to enforce Third-Party Motor Insurance in Nigeria. The Commissioner for Insurance/CEO, Mr. Olusegun Ayo…
- 27 Feb 2025
NAICOM Tasks Insurance Companies on Local Cyber Insurance Products
National Insurance Commission (NAICOM) has urged local insurance companies to prioritise the development and rollout of cyber insurance products to address growing digital risks. The call was made by…
- 18 Jun 2024
NAICOM Seeks Police Support on Enforcement of Motor Third-party Insurance
The National Insurance Commission (NAICOM) has asked the support of the Nigeria Police Force in advancing the insurance industry road map particularly in the enforcement of Motor Third- Party…
- 17 Mar 2021
BizWatch Nigeria set to Host Insurance Webinar
BizWatch Nigeria, Nigeria's leading business platform is set to hold the first of its webinar series, themed "Building Financial Resilience with Insurance Solutions Amid COVID-19". With the COVID-19…
- 9 Feb 2022
FSD Africa, NAICOM Partner to Launch Bimalab
FSD Africa and Nigeria’s National Insurance Commission (NAICOM) have partnered to launch BimaLab, an accelerator programme designed to boost the development and adoption of digital solutions for the…
- 3 Mar 2021
Enterprise Life Flags off Insurance Business Operations in Nigeria
Enterprise Life, Nigeria, a subsidiary of Enterprise Group PLC, has fully commenced insurance business in Nigerian. Before now the Company has been granted operating license from the National…
- 19 Feb 2025
NAICOM, UNDP, Others to Promote Insurance Literacy, Consumer Protection
The National Insurance Commission (NAICOM), and the United Nations Development Programme (UNDP) recently took their Insurance Literacy and Consumer Protection Campaign to Wuse Market, Abuja. NAICOM…
- 24 Nov 2025
NAICOM Mandates Insurance Customers to Link NIN, CAC Documents By April 2026
The National Insurance Commission, NAICOM, has directed all individual insurance customers to link their National Identification Number, NIN, to their insurance policies by April 30, 2026. The…
- 3 Jul 2025
NAICOM Issues New Licenses to SanlamAllianz Life, General Insurance
The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd at brief ceremony held in Abuja. Olusegun Omosehin, commissioner for…
- 6 Jun 2023
NITDA Partners with NAICOM to Institutionalise Cyber Insurance
National Information Technology Development Agency (NITDA) is exploring partnership and collaboration with the National Insurance Commission (NAICOM) on how to institutionalise Cyber Security…
- 26 May 2026
History as NAICOM Licenses First Insurtech Firm under New Reform
National Insurance Commission (NAICOM) has granted an operational licence to CBI Partnering Insurtech Ltd, making it the first fully licensed partnering insurtech company in Nigeria. An insurtech…
- 24 Dec 2021
NAICOM says Insurance Industry Attracting Huge Pension Funds
Mr. Sunday Thomas, the Commissioner for Insurance, National Insurance Commission, has said the insurance industry is attracting huge pension funds and contributing largely to the national economy. A…
- 7 Jan 2020
NAICOM says No Insurance Firm has Met Recapitalisation Requirements
National Insurance Commission said on Monday that no insurance company in the country could be categorised as having met the recapitalisation requirements at the moment. The commission said this was…
- 20 Jul 2026
No Going Back on July 31 Deadline for Insurance Firms' Recapitalisation - NAICOM
National Insurance Commission (NAICOM) has declared that it has no plans to extend the 31 July 2026, deadline for the ongoing insurance industry recapitalisation exercise, asserting that the date is…
- 10 Aug 2026
FG Suspends NAICOM’s N680m Insurance Recapitalisation Fees
Federal Ministry of Finance has halted enforcement of about N680 million in disputed fees imposed by the National Insurance Commission (NAICOM) on NICON Insurance Limited and Nigeria Reinsurance…
- 2 Jul 2019
NAICOM Boss Calls for Reform of Insurance Industry
Mr. Mohammed Kari, the Commissioner for Insurance National Insurance Commission (NAICOM), has stressed the need to reform and digitise the country’s insurance industry to boost the economy. Kari said…
- 9 Jul 2017
NAICOM to Review Insurers’ Performance
The National Insurance Commission (NAICOM) plans to assess the implementation of the regulatory priorities for the industry in 2017, and strategise on how to improve the local retention of insurance…
- 5 Aug 2026
NAICOM Issues New Licences to 43 Recapitalized Insurers
The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking…
- 10 Jun 2022
NAICOM Urges PILA to Deepen Insurance Penetration
The National Insurance Commission (NAICOM) has urged the Professional Insurance Ladies Association (PILA) to use their position influence acceptance of insurance for better penetration and growth of…
- 23 Feb 2022
NAICOM Partners FSD Africa to Launch Digital Insurance Solution
The National Insurance Commission (NAICOM) is partnering FSD Africa to launch BimaLab, an accelerator programme designed to boost the development and adoption of digital solutions for the insurance…
- 26 Nov 2018
NAICOM Cancels Recapitalization, Reclassification Plan of Insurance Policy
The National Insurance Commission (NAICOM) has withdrawn and canceled the circular on Tier Based Minimum Solvency Capital (TBMSC) policy meant to recapitalize and reclassify insurance companies. The…
- 18 Jan 2010
What Insurance Holds for Nigeria in 2010?
ndustry watchers have predicted that year 2010 may be that of magical accomplishments. For some people, it is a year of food for all, water for all or in summary, a year that would witness the…
- 6 Oct 2021
NAICOM set to Enforce Insurance of Buildings above Two Floors
The National Insurance Commission (NAICOM) is set to enforce the insurance of buildings above two floors, in the country. Alhaji Sabiu Abubakar, Deputy Commissioner for Insurance, Technical disclosed…