Following the conclusion of the Nigerian insurance industry recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, NAICOM has confirmed 50 operators as compliant , comprising 48 Insurance companies and 2 Reinsurance companies.
Here is the list
GENERAL INSURERS
Zenith General Insurance Company Limited
Custodian and Allied Insurance Limited
NEM Insurance Plc
Heirs General Insurance Limited
Fin Insurance Company Limited
Tangerine General Insurance Limited
Capital Express Indemnity Insurance Limited
Sanlam-Allianz General Insurance Nigeria Limited
Consolidated Hallmark Insurance Limited
Sterling Assurance Nigeria Limited
Unitrust Insurance Company Limited
NSIA Insurance Limited
Rex Insurance Limited
Linkage Assurance Plc
Anchor Insurance Company Limited
SUNU Assurances Nigeria Plc
KBL Insurance Limited
International Energy Insurance Plc
Veritas Kapital Assurance Plc
NPF Insurance Company Limited
Coronation Insurance Plc
Prestige Assurance Plc
Mutual Benefits Assurance Plc
emPLE General Insurance Limited
Sovereign Trust Insurance Plc
Alliance & General Insurance Plc
Guinea Insurance Plc
Regency Alliance Insurance Plc
LIFE INSURERS
Custodian Life Assurance Limited
CHI Life Assurance Limited
Heirs Life Assurance Limited
Prudential Zenith Life Insurance Limited
Stanbic IBTC Insurance Limited
Sanlam-Allianz Life Insurance Nigeria Limited
Capital Express Life Assurance Limited
Mutual Benefits Life Assurance Limited
Enterprise Life Assurance Company (Nigeria) Limited
Coronation Life Assurance Limited
emPLE Life Assurance Limited
Tangerine Life Insurance Limited
COMPOSITE INSURERS
Leadway Assurance Company Limited
AIICO Insurance Plc
Cornerstone Insurance Plc
AXA Mansard Insurance Plc
LASACO Assurance Plc
Fortis Global Insurance Plc
Industrial and General Insurance Plc
Great Nigeria Insurance Plc
REINSURERS
Continental Reinsurance Plc
FBS Reinsurance Limited
A stronger industry. Greater capacity. Better positioned to protect Nigerians and support economic growth.
The recapitalisation milestone marks an important new chapter for Nigeria’s insurance industry, with a stronger capital base. It is expected to enhance risk-bearing capacity, support innovation, and strengthen policyholder protection.
