COVID-19: NAICOM segments recapitalization target for insurance firms

COVID-19: NAICOM segments recapitalization target for insurance firms

The National Insurance Commission (NAICOM) has extended deadlines for recapitalization of insurance companies in Nigeria even as it segmented the process meeting the target for them. It revealed this via a circular labeled NAICOM/DPR/CIR/25-04/2020 and dated June 3. According to NAICOM, the latest development as part of its efforts to cushion effects of Coronavirus pandemic on insurance companies in the country. “The incidences of COVID-19 pandemic have made it difficult to proceed with the 31st December, 2020 recapitalisation deadline. A review of the capitalization deadline therefore became imperative in order…

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