Magazine date:
Mar 2008 The National Insurance Commission (NAICOM) has revealed the names of the companies which will be put into receivership unless they successfully achieve the recapitalisation process. The seven companies mentioned are: Metropolitan General Insurance Company, Sun Insurance Nig., Mutual Insurance, Presidential insurance, Trust World Insurance, Lion of Africa insurance Co. and Energy & Special Risks Insurance Co.
At the end of the sector's restructuring process achieved in February 2007, the Nigerian market comprises 71 licensed operators, 69 of which are insurance companies and 2 of which are reinsurance ones.