Regency Alliance Insurance set to raise N3.04bn through rights issue

Regency Alliance Insurance Plc has taken a major step towards its recapitalisation effort, with the formal signing of its Rights Issue Agreement, setting the stage for the next phase of strategic expansion and growth.

The insurer is offering a Rights Issue of 3,201,000,000 Ordinary Shares of 50 Kobo each at 95 Kobo per share, on the basis of one (1) new Ordinary Share for every five (5) Ordinary Shares held.

The signing ceremony, held at the Company’s headquarters in Lagos, brought together members of the Board of Directors, management, issuing house, legal advisers, stockbrokers, and other key stakeholders in a strong demonstration of confidence in Regency Alliance Insurance Plc’s future.

Regency Alliance’s insurance offer is designed to strengthen the Company’s capital base, improve underwriting capacity, and fund key investments in technology, product innovation, and customer experience.

For shareholders, it represents an opportunity to increase their ownership in a company that has consistently delivered value through disciplined underwriting, responsive service, and prudent financial management.

Speaking at the signing ceremony, Wale Taiwo, acting chairman of Regency Alliance Insurance Plc, said, “The signing is more than a formality. It is a statement of belief – belief in our people, our strategy, and the trust our customers and shareholders have placed in us over the years. This capital raise will give us the firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder. That Regency Alliance will be there when it matters most, he said.

We are particularly encouraged by the unwavering support of our shareholders who have stood by the Company through its growth journey. We urge all eligible shareholders to take advantage of this Rights Issue and fully exercise their rights. By doing so, they will not only protect their investment from dilution but also participate directly in the exciting growth opportunities that lie ahead for Regency Alliance Insurance Plc.”

Also commenting, Bode Oseni, managing director, stated:

“Regency Alliance has always prided itself on being agile, customer-focused, and financially sound. The proceeds from this Rights Issue will accelerate our digital transformation, enhance claims efficiency, and enable us to introduce innovative products tailored to SMEs, Gen Z, and other underserved segments across Nigeria and beyond. We are not merely raising capital; we are raising our ambition.

We remain optimistic that our shareholders will embrace this opportunity and demonstrate their confidence in the Company’s future by taking up their rights. Together, we are building a stronger and more competitive insurance institution.”

The acceptance list will open on 22 June 2026 and close on 3 July 2026.

Regency Alliance Insurance Plc has built a reputation for prompt claims settlement, innovative insurance solutions, and strong corporate governance since inception. The Company serves thousands of individuals and businesses across Nigeria, offering general insurance products that protect lives, assets, and livelihoods.

With the agreement now signed and all regulatory approvals secured, the Company will proceed with shareholder communications and offer implementation in line with the requirements of the Securities and Exchange Commission (SEC) and Nigerian Exchange Limited (NGX).