The National Insurance Commission (NAICOM) has officially presented new licenses to SanlamAllianz Life and General Insurance Nigeria Limited, marking the completion of the companies’ merger. The brief handover ceremony took place on Wednesday in Abuja.
Speaking at the event, NAICOM’s Commissioner for Insurance and CEO, Mr. Olusegun Ayo Omosehin, reaffirmed the Commission’s commitment to fostering the growth of insurance operators in Nigeria while ensuring strict adherence to regulatory standards.
“We are dedicated to supporting the expansion of insurance businesses in Nigeria, but this must be anchored on good corporate governance, financial stability, and prompt claims settlement,” Omosehin said.
He also assured stakeholders of NAICOM’s determination to eliminate unnecessary bottlenecks in the sector and improve the overall performance of the Nigerian insurance industry.
Omosehin expressed confidence that the merger would strengthen SanlamAllianz’s capacity to deliver innovative insurance solutions and contribute meaningfully to the growth of Nigeria’s financial services sector.