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News

Businessday NG
businessday.ng > insurance > article > 43-insurers-scale-industry-recapitalisation-hurdle-as-8-await-fate

43 insurers scale industry recapitalisation hurdle as 8 await fate

17+ hour, 34+ min ago   (474+ words) Nigeria’s insurance industry has completed its year-long recapitalisation exercise with 43 insurance and reinsurance companies meeting the new minimum capital requirements, drawing more than N300 billion in fresh capital into the sector. The successful firms, comprising 23 non-life insurers, 10 life insurers, eight composite…...

Businessday NG
businessday.ng > insurance > article > group-life-insurance-gap-leaves-private-sector-workers-exposed

Group life insurance gap leaves private sector workers exposed

4+ mon, 15+ hour ago   (1067+ words) Group life insurance adoption in Nigeria, despite being a legal requirement under the Pension Reform Act (PRA) 2014, remains low, widening the financial burden on families who lose their loved ones. While employees of the Federal Government Ministries, Departments and Agencies…...

Businessday NG
businessday.ng > insurance > article > mutual-benefits-strengthens-customer-confidence-with-n4-2bn-claims-payout-february

Mutual Benefits strengthens customer confidence with N4.2bn claims payout February

4+ mon, 4+ day ago   (599+ words) Mutual Benefits Assurance Plc, a leading player in Nigeria’s insurance industry, has paid a total of N4.2 billion in claims to policyholders in February 2026, reaffirming its commitment to delivering on its promises and supporting customers in times of need. The payout…...

Businessday NG
businessday.ng > insurance > article > mutual-benefits-pays-out-n5-9bn-claims-in-first-month-of-2026

Mutual Benefits pays out N5.9bn claims in first month of 2026

5+ mon, 1+ week ago   (357+ words) Mutual Benefits Assurance Plc has paid out N5.94bn in claims to its policyholders in January 2026 alone, underlining its strong financial capacity and unwavering commitment to customer service. A breakdown of the figures shows that N3.43 billion was paid under its General (Non-Life)…...