The National Insurance Commission (NAICOM) has announced that it will release a new framework in October to review the size of risk portfolios held by insurance companies in relation to their capital levels under the Minimum Capital Requirement (MCR) regime. The Commissioner for Insurance, Mr Olusegun Ayo Omosehin, disclosed this on Friday in Lagos during a press briefing on the just-concluded recapitalisation exercise under the Nigerian Insurance Industry Reform Act 2025. Omosehin explained that the MCR represents the least capital an insurance entity is permitted to hold, and that companies with large risk exposures would be required to match them with appropriate levels of capital.
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