NAICOM Grants Two New Licenses, Seeks Better Corporate Governance

By Oluwakemi Kindness

The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd.

Commissioner for Insurance, Olusegun Ayo Omosehin, emphasized the Commission’s commitment to supporting the growth of insurance entities in the country, while ensuring strict compliance with regulatory requirements.

According to a statement in Abuja on Wednesday by the commission, he urged the companies to prioritize good corporate governance, stability, and timely claims settlement processes.

The Commissioner reiterated NAICOM’s dedication to removing unnecessary bottlenecks and improving the insurance industry’s overall performance.

He expressed confidence that the merger would enhance the companies’ capabilities and contribute to the industry’s growth.