The National Insurance Commission (NAICOM) has published the list of insurance and reinsurance companies that have met the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, affirming their continued eligibility to operate in the country.
In a public notice signed by the Commission’s management and dated July 31, 2026, NAICOM said the listed companies have been confirmed and verified as compliant with the minimum capital requirements and applicable insurance laws and guidelines.
The publication comprises 43 licensed operators, including 41 insurance companies and two reinsurance firms, spanning the life, non-life, composite and reinsurance segments of the industry.
Among the notable firms that made the compliance list are Leadway Assurance Company Limited, AIICO Insurance Plc, AXA Mansard Insurance Plc, NEM Insurance Plc, Cornerstone Insurance Plc, LASACO Assurance Plc, Linkage Assurance Plc, SUNU Assurances Nigeria Plc, Great Nigeria Insurance Plc, Prestige Assurance Plc, Sterling Assurance Nigeria Limited, Stanbic IBTC Insurance Limited, Heirs General Insurance Limited, Heirs Life Assurance Limited, Prudential Zenith Life Insurance Ltd, Coronation Insurance Plc and Coronation Life Assurance Limited.
The two reinsurance companies confirmed by the Commission are Continental Reinsurance Plc and FBS Reinsurance Limited.
The published list also includes Zenith General Insurance Company Limited, Custodian Life Assurance Limited, Custodian and Allied Insurance Limited, CHI Life Assurance Limited, Fin Insurance Company Limited, Mutual Benefits Assurance Plc, Tangerine General Insurance Ltd, Capital Express Indemnity Insurance Limited, Sanlam-Allianz General Insurance Nigeria Ltd, Consolidated Hallmark Insurance Limited, Sanlam-Allianz Life Insurance Nigeria Limited, Unitrust Insurance Co. Limited, Capital Express Life Assurance Limited, Mutual Benefits Life Assurance Ltd, NSIA Insurance Limited, Rex Insurance Limited, Anchor Insurance Company Ltd, Enterprise Life Assurance Company (Nigeria) Ltd, KBL Insurance Ltd, International Energy Insurance Plc, Veritas Kapital Assurance Plc, NPF Insurance Company Ltd, Fortis Global Insurance Plc and Industrial and General Insurance Plc.
Industry analysts say the publication provides greater clarity for policyholders, investors and other stakeholders by identifying operators that have successfully met the industry’s revised capital threshold following the implementation of the new insurance reform framework.
The latest compliance list is expected to strengthen confidence in Nigeria’s insurance sector as the Commission continues to enforce higher capital standards aimed at improving insurers’ financial capacity, claims-paying ability and long-term stability.
