Assist companies in the process of recapitalization

The two supervising bodies : National Insurance Commission (NAICOM) and the Nigerian Insurance Association (NIA) have set up the committees that are entrusted with assisting companies with the recapitalisation process due to end in February 2007. A practical guide book has been provided to the insurers. Following the reforms underway, the number of the companies operating in Nigeria is likely to drop from 105 to 25.