Insurance stocks have remained resilient and stable almost two months after the National Insurance Commission announced new capital requirements for operators in the industry, THISDAY’s investigation has revealed.Under the new minimum paid-up capital, companies that want to remain in life business will need a minimum capital of N8 billion from the current N2 billion.
The value of insurance sector has improved slightly from N107.484 billion to N108.423 billion since the announcement was made in May. Also, some operators in the insurance sector have hailed the decision of NAICOM and called on others to embrace the recapitalisation move. According to him, the Nigerian insurance sector, if well positioned, would take its rightful place in the country’s economy.