A new development has surfaced in the insurance industry’s ongoing recapitalisation drive, as some operators are opting to surrender one of their licences in order to comply with the new minimum capital requirements (MCR).
In several cases, companies are also reorganising their portfolios by exiting high-risk segments, allowing them to better align their capital base with their risk exposure under the post-recapitalisation framework.
The Nigerian Insurance Industry Reform Act (NIIRA), the new law driving the insurance sector recapitalizat
