The Insurance industry regulator, National Insurance Commission (NAICOM) in order to enhance insurance operating standard of the sector further decided to set N4 billion as new minimum capital requirement for the industry with adjusted deadline to December 31, 2020. Prudential Zenith Life Insurance as one key operator in the sector positioned to boost its operations capabability in the insurance business further has raised its authorised share capital to N5 billion, even before the regulatory deadline thereby surpassed the set new minimum capital requirement of N4billion by NAICOM
“This seamless recapitalisation effort was hinged on the enormous financial strength and support from key shareholders. With this, the firm is poised to emerge stronger with greater capacity to serve our esteemed customers and continue to grow the business.”
Prudential Zenith Life Insurance Limited is part of Prudential Plc, one of the oldest and most capitalised life insurance companies in the world.
