Regency Alliance Insurance Launches Rights Issue to Strengthen Capital Base, Drive Expansion

Regency Alliance Insurance Launches Rights Issue to Strengthen Capital Base, Drive Expansion

LAGOS – Regency Alliance Insurance Plc has taken a significant step toward strengthening its financial position and accelerating business growth with the formal signing of its Rights Issue Agreement, paving the way for a fresh capital injection aimed at enhancing the company’s competitiveness and long-term sustainability.

The signing ceremony, held at the insurer’s headquarters in Lagos on Wednesday, brought together members of the Board of Directors, management team, issuing house, legal advisers, stockbrokers and other stakeholders, reflecting widespread confidence in the company’s strategic direction and growth prospects.

Under the Rights Issue, Regency Alliance Insurance Plc is offering 3.201 billion ordinary shares of 50 kobo each at 95 kobo per share, on the basis of one new ordinary share for every five ordinary shares currently held by shareholders.

The capital raise is expected to bolster the company’s capital base, improve underwriting capacity and provide funding for strategic investments in technology, product innovation and customer service enhancement.

Speaking during the signing ceremony, the Acting Chairman of Regency Alliance Insurance Plc, Chief Wale Taiwo, SAN, described the development as a major statement of confidence in the company’s future.

According to him, the exercise represents more than a regulatory requirement, noting that it reflects faith in the organisation’s workforce, business strategy and the trust reposed in it by customers and shareholders over the years.

“Today’s signing is more than a formality. It is a statement of belief – belief in our people, our strategy, and the trust our customers and shareholders have placed in us over the years,” Taiwo said.

He explained that the additional capital would enable the company to respond more effectively to evolving risk landscapes, expand its market reach and strengthen its commitment to policyholders.

“This capital raise will give us the firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder: that Regency Alliance will be there when it matters most,” he added.

Taiwo also expressed appreciation for the continued support of shareholders and urged all eligible investors to fully participate in the offer.

He noted that taking up their rights would not only protect existing investments from dilution but also allow shareholders to benefit directly from the company’s future growth and profitability.

Also speaking, the Managing Director of the company, Mr. Bode Oseni, said the proceeds from the Rights Issue would accelerate Regency Alliance’s ongoing digital transformation agenda and support the development of innovative insurance products targeted at underserved market segments.

According to Oseni, the company remains committed to maintaining its reputation as an agile, customer-focused and financially sound insurer.

“The proceeds from this Rights Issue will accelerate our digital transformation, enhance claims efficiency, and enable us to introduce innovative products tailored to SMEs, Gen Z, and other underserved segments across Nigeria and beyond,” he said.

“We are not merely raising capital; we are raising our ambition.”

He expressed optimism that shareholders would embrace the opportunity and demonstrate confidence in the company’s future by fully subscribing to the offer.

Regency Alliance stated that the Rights Issue is intended to strengthen its solvency position, support business expansion and fund investments in digital infrastructure and new product development.

The company noted that existing shareholders would have the opportunity to subscribe for additional shares in proportion to their current holdings, thereby preserving their ownership interests while participating in future value creation.

Management further said the successful execution of the signing process demonstrates strong confidence among advisers and stakeholders in the company’s corporate governance framework, risk management systems and long-term business strategy.

According to the timetable released by the company, the Acceptance List will open on June 22, 2026, and close on July 3, 2026, during which eligible shareholders are expected to submit their applications.

Regency Alliance Insurance Plc has established itself as one of Nigeria’s leading general insurance providers, offering a broad range of insurance products to individuals and businesses across the country. The company is known for prompt claims settlement, innovative insurance solutions and adherence to strong corporate governance standards.

With the signing of the agreement and the completion of required regulatory approvals, the company said it would proceed with shareholder communications and implementation of the offer in compliance with the requirements of the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).

The Board and Management expressed confidence that the Rights Issue would receive strong shareholder support and position the insurer for sustainable growth, enhanced profitability and increased market relevance in Nigeria’s evolving insurance industry.

 

Regency Alliance Insurance Launches Rights Issue to Strengthen Capital Base, Drive Expansion