AIICO Insurance successfully meets NAICOM recapitalisation requirement
Orisemeke Benjamin
AIICO Insurance Plc says it successfully met the recapitalisation exercise by National Insurance Commission (NAICOM).
In a statement signed by MD/CEO, AIICO Insurance PlcBabatunde Fajemirokun, expressed delight to be listed among companies that met the minimum capital requirement.
“We are pleased to inform you that the National Insurance Commission (NAICOM), in its public notice dated 2nd August 2026, announced the successful completion of the twelve-month insurance sector recapitalisation exercise undertaken pursuant to the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
“We are delighted to confirm that AIICO Insurance Plc was listed among the insurance and reinsurance companies verified by NAICOM as fully compliant with the minimum capital requirement prescribed under the NIIRA 2025 and other applicable laws and regulatory guidelines. AIICO was confirmed as a fully compliant composite insurer, one of only a select group of companies to achieve this status across both life and general insurance business lines.
“This significant milestone reflects our unwavering commitment to regulatory compliance, financial strength, sound corporate governance, and the long-term sustainability of our business. More importantly, it reinforces our capacity to underwrite risks of greater scale, honour claims, and obligations promptly, and continue protecting what matters most to you with confidence.
“For you, our valued client, this achievement offers renewed assurance. A stronger capital base means enhanced financial resilience, greater underwriting capacity, and the enduring security of knowing that your policies are backed by one of Nigeria’s most solidly capitalised insurers.
“This accomplishment would not have been possible without your trust, confidence, and continued support. We deeply appreciate your partnership and remain committed to delivering exceptional service and innovative insurance solutions that contribute to your continued peace of mind,” AIICO stated.
The company thanks its customers for their loyalty.
