The National Insurance Commission (NAICOM) has revoked the licenses of both Niger Insurance and Standard Alliance Insurance. The revocation took effect on 21 June 2022. The regulator has also assigned liquidators for both companies.
No official reason for the revocation has been disclosed.
Read also | Nigerian Insurance Market [4]
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-193-july-2022
[4] https://www.atlas-mag.net/en/article/the-insurance-market-in-nigeria