Six new insurance firms and one reinsurance company have been issued operational licenses by the National Insurance Commission (NAICOM).
AIICO Insurance has announced the declaration of additional bonus shares for shareholders of the Company.
Insurance companies have appealed to NAICOM to extend the deadline for recapitalization as directed by the regulator.
This was disclosed in a statement by NAICOM’s Commissioner for Insurance Directorate.
The announcement was made on Friday as NAICOM confirmed the names of the companies.
The company was originally supposed to release the full-year 2019 financial statements in March this year.
Directors typically meet to consider/approve financial statements before they are released.
The plan to increase NEM Insurance's issued share capital has long been in the works.
Today, Prestige Assurance predominantly provides accident and health insurance products and services.
Company’s shareholders now have the opportunity to increase their stake and position themselves for higher returns.