The National Insurance Commission (NAICOM) is preparing to release comprehensive supplementary guidelines aimed at fully ring-fencing Retiree Life Annuity (RLA) funds, offering stronger protection for annuitants.
This development was revealed by Moruf Apampa, Managing Director of NSIA Insurance Limited and member of the Communication & Stakeholder Engagement Subcommitteee of the Insurers Committee. Heannouncedt during a press conference following the June 2025 Insurers’ Committee meeting held in Lagos.
Apampa emphasized that the upcoming guidelines, along with other initiatives from NAICOM, are designed to enhance protection for annuitants and other policyholders in the insurance sector.
He also noted that NAICOM is actively working on developing cyber risk guidelines as part of a broader effort to reposition and strengthen the industry against emerging threats.
Furthermore, Apampa highlighted the growing commitment among industry stakeholders led by NAICOM to ensure the prompt settlement of legitimate claims. He added that the Commissioner for Insurance, Olusegun Omosehin, expressed satisfaction with the notable progress made in claims payment during the committee meeting.
