The National Insurance Commission (NAICOM) has applauded Continental Reinsurance Plc for hosting the 2025 CEO Roundtable, describing the forum as both timely and essential for accelerating the transformation of Nigeria’s insurance sector.
The event, themed “Recapitalization & Beyond: Rethinking Risk, Capacity and Collaboration for a Resilient Insurance Sector,” convened chief executives of insurance companies across the country in Lagos.
Delivering a goodwill message on behalf of the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, NAICOM’s Deputy Commissioner (Technical), Dr. Usman Jankara, said the ongoing recapitalisation exercise would significantly strengthen the industry and enhance Nigeria’s competitiveness under the African Continental Free Trade Area (AfCFTA).
He described recapitalisation as “the foundation for growth, not the finish line,” noting that it will boost solvency and underwriting capacity, allowing insurers to write larger risks and retain more business locally. According to him, the exercise will also rebuild investor confidence, encourage mergers and acquisitions for efficiency, and position Nigerian insurers to compete effectively across Africa.
Jankara said Continental Re’s effort in fostering industry dialogue aligns with NAICOM’s broader reform agenda, which prioritises stronger capacity, enhanced solvency and innovation across the sector.
He restated the revised minimum capital thresholds—N10 billion for life insurers, N15 billion for non-life companies, and N35 billion for reinsurers—emphasising that these requirements are essential for creating insurers capable of handling major transactions and expanding their footprint within African markets.
