NAICOM Hails Continental Re for 2025 CEO Roundtable on Insurance Recapitalisation - Newstrends
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NAICOM Hails Continental Re for 2025 CEO Roundtable on Insurance Recapitalisation

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2 months ago

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L-R: Executive Director (Technical), Continental Reinsurance Plc, Chukwuemeka Akwiwu; Group Head of Human Resources Continental Re, Diana Ussher-Eke; Chairman, Nigerian Insurers Association, Mr Kunle Ahmed; Group Chief Finance officer Continental Re, Ms. Jane Mberia; Pioneering Managing Director, Continental Re & Past President, Chartered Insurance Institute of Nigeria, Sir Ogala Osoka; Deputy Commissioner, Technical, National Insurance Commission, Dr. Usman Jankara; Managing Director of Continental Reinsurance Plc, Dr. Fatai Lawal; Partner/West Africa People Consulting Leader EY, Mrs. Lola Esan; Regional Director, Anglophone, Ogadi Onwuaduegbo ; and Company Secretary/Group Head, Legal Services & Compliance, Continental Re, Ms. Patricia Ngozi Ifewulu, at the 2025 CEO Roundtable organised by Continental Reinsurance in Lagos on Wednesday

NAICOM Hails Continental Re for 2025 CEO Roundtable on Insurance Recapitalisation

The National Insurance Commission (NAICOM) has praised Continental Reinsurance Plc for hosting the 2025 CEO Roundtable, describing the forum themed “Recapitalization & Beyond: Rethinking Risk, Capacity and Collaboration for a Resilient Insurance Sector” as timely and critical to transforming the Nigerian insurance industry.

The high-level event, held in Lagos, brought together chief executives of major insurance companies across the country to deliberate on the future of the sector amid the ongoing recapitalisation exercise.

Delivering a goodwill message on behalf of the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, the Deputy Commissioner (Technical), Dr. Usman Jankara, said recapitalisation would reposition Nigerian insurers for stronger competitiveness, particularly under the African Continental Free Trade Area (AfCFTA).

According to him, recapitalisation is the bedrock for sustainable growth, as it will strengthen solvency, enhance underwriting capacity, enable insurers to retain more risks locally, build investor confidence, attract capital, stimulate mergers and acquisitions, and drive regional expansion.

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Jankara noted that Continental Re’s initiative aligns with NAICOM’s reform agenda, which prioritises improved capacity, stronger financial resilience and innovation across the sector.

Reiterating the new minimum capital requirements—₦10bn for life insurers, ₦15bn for non-life companies, and ₦35bn for reinsurers—he stressed that the thresholds were designed to build institutions capable of underwriting large transactions and competing across African markets.

In his lead presentation, the Managing Director of Financial Derivatives Company Limited, Mr. Bismark Rewane, described recapitalisation as a transformative lever for driving economic growth, strengthening climate resilience, boosting capital market development, and improving claims-paying capacity. He added that it would enable underwriting of complex risks, promote consolidation, enhance investor confidence and support innovation and technology adoption.

Managing Director of Continental Reinsurance Plc, Dr. Fatai Lawal, said the theme of the roundtable captures both the challenges and opportunities ahead for the industry. He noted that the forum was convened to help industry leaders assess progress, exchange insights and develop strategies for building a stronger, more resilient sector.

NAICOM Hails Continental Re for 2025 CEO Roundtable on Insurance Recapitalisation

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Lasaco Assurance Secures Shareholder Commitments to Drive Capitalisation Plans

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4 days ago

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February 9, 2026

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Lasaco Assurance Plc
Lasaco Assurance Secures Shareholder Commitments to Drive Capitalisation Plans
Lasaco Assurance Plc has secured formal commitment letters from its shareholders following its recently concluded Extraordinary General Meeting (EGM), reinforcing confidence in the company’s capitalisation strategy amid ongoing regulatory reforms in Nigeria’s insurance industry.
The commitments provide a clear pathway for the company to proceed with its approved plan to raise additional capital in compliance with the Nigerian Insurance Industry Reform Act and other relevant regulatory requirements.
Speaking on the development, the Acting Managing Director of Lasaco Assurance Plc, Mr. Ademoye Shobo, described the shareholders’ confirmation as a major milestone that brings clarity and certainty to the capital-raising process.
“The commitment letters from our shareholders give us the confidence to move forward with our capitalisation plans in line with the Nigerian Insurance Industry Reform Act and other regulatory guidelines governing the insurance industry. We intend to leverage all available opportunities to raise the approved capital, and our existing shareholders should watch out for our rights issue as part of this process,” Shobo said.
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With shareholders’ support now formally documented, the company is set to actively pursue various funding options to achieve the approved capital raise. Lasaco Assurance plans to deploy a combination of market-based instruments, including a rights issue and other permissible fundraising structures, to ensure efficient and timely capital mobilisation.
Management noted that the shareholder commitments further underscore investor confidence in the company’s growth strategy, corporate governance framework, and long-term business outlook. The planned capital raise is expected to strengthen the company’s balance sheet, enhance its underwriting capacity, and provide greater flexibility for expansion across its core insurance business segments.
As part of the capitalisation process, existing shareholders have been advised to look out for the forthcoming rights issue, which will allow them to participate proportionately in the company’s capital expansion. Lasaco Assurance reaffirmed its commitment to transparency and full regulatory compliance throughout the fundraising exercise.
The company described the capitalisation drive as a strategic move aimed at sustaining competitiveness, improving risk-bearing capacity, and positioning Lasaco Assurance for long-term growth within Nigeria’s insurance market. The initiative also aligns with broader industry efforts to enhance financial resilience and safeguard policyholders’ interests.

Lasaco Assurance Secures Shareholder Commitments to Drive Capitalisation Plans

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Client Commends NEM Insurance for Prompt Claims Settlement, Exceptional Customer Care

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4 days ago

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February 9, 2026

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NEM Insurance
Client Commends NEM Insurance for Prompt Claims Settlement, Exceptional Customer Care
The Chief Executive Officer of King John Environment Services, Mr. Ogunyinka Johnson, has praised NEM Insurance Plc for its prompt claims settlement, exceptional customer service, and strong commitment to policyholders.
Mr. Ogunyinka, who has maintained a comprehensive insurance policy with NEM Insurance Plc for over five years, gave the commendation in a video testimonial, citing the insurer’s efficient handling of multiple claims involving his two trucks.
According to him, the first claim was settled seamlessly, while the second—described as more challenging—was also handled professionally and to his satisfaction.
“The first claim was handled perfectly, and the second one, although challenging, was managed excellently. What surprised me most was the warm reception I received. An insurance company actually welcomed me with a beautiful cake for my birthday while paying my claim. That is not ordinary,” he said.
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Describing NEM Insurance as “a very good insurance company,” Mr. Johnson reaffirmed his loyalty to the insurer, noting that his positive experience has strengthened his relationship with the company.
“I have so much interest in NEM, and I will continue to maintain a very good relationship with them. Even without being prompted, I have been recommending them to people,” he stated.
He further noted that NEM Insurance stands out not only for providing reliable insurance coverage but also for building strong, trustworthy, and long-lasting relationships with its clients.
“Sincerely, I am very sure NEM has many people waiting to experience the kind of policy that gives them a solid ground,” he added.

Client Commends NEM Insurance for Prompt Claims Settlement, Exceptional Customer Care

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NEM Insurance Projects ₦13.1bn Profit as Q1 2026 Forecast Signals Strong Growth

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3 weeks ago

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January 26, 2026

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NEM Insurance

NEM Insurance Projects ₦13.1bn Profit as Q1 2026 Forecast Signals Strong Growth

NEM Insurance Plc has reaffirmed its strong growth momentum after submitting its Q1 2026 financial forecast to the Nigerian Exchange Group (NGX), projecting sustained profitability and balance-sheet expansion.

According to the forecast, the leading general insurance underwriter expects total assets to rise to ₦177.28 billion in the first quarter of 2026. Insurance revenue is projected at ₦65.26 billion, while profit before tax is estimated at ₦13.16 billion and profit after tax at ₦11.71 billion, highlighting continued operational efficiency.

The upbeat outlook underscores NEM Insurance’s confidence in its business fundamentals, supported by strong underwriting performance, prudent risk management, and effective investment strategies.

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The company’s positive trajectory follows a robust 2025 financial performance. In line with its commitment to shareholder value, NEM Insurance paid a ₦5.02 billion dividend for the 2024 financial year, a decision that earned commendation from shareholders at its 2025 Annual General Meeting (AGM).

Earlier, the insurer’s unaudited Q3 2025 results, filed with the NGX, revealed significant growth. Total assets climbed to ₦165.46 billion as of September 30, 2025, up from ₦121.93 billion at the end of December 2024. Shareholders’ equity also increased to ₦80.97 billion from ₦65.44 billion, strengthening the company’s capital base.

Operational performance showed strong year-on-year improvement, with insurance revenue surging by 55 per cent to ₦107.44 billion in Q3 2025, compared to ₦69.52 billion in the same period of 2024.

Industry analysts say NEM Insurance Plc’s consistent earnings growth, solid capital position and reliable dividend history place it in a strong position to navigate industry challenges and seize emerging opportunities in Nigeria’s insurance market.

With its optimistic Q1 2026 forecast now before the NGX, NEM Insurance appears well-positioned to build on its recent successes and reinforce its reputation as one of Nigeria’s most resilient insurance companies.

NEM Insurance Projects ₦13.1bn Profit as Q1 2026 Forecast Signals Strong Growth

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