The National Insurance Commission (NAICOM) has clarified that Nigeria's insurance recapitalisation exercise was not intended to shrink the industry by forcing operators out of business. Instead, the exercise was designed to prevent insurers from facing liquidation and to strengthen the sector. NAICOM's actions were aimed at ensuring stability and solvency among insurance companies. The recapitalisation is part of efforts to enhance the insurance industry's capacity to meet its obligations.
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