The National Insurance Commission (NAICOM) and the National Pension Commission (PenCom) have urged insurance companies and pension fund operators to ensure that recapitalisation translates into stronger institutions, better services, and improved financial security for Nigerians. The call was made at the 11th Annual Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE). The insurance sector has concluded its recapitalisation process, while the pension sector's recapitalisation is slated to end in July 2027. The Commissioner for Insurance, Mr. Olusegun Omosehin, said insurers must look beyond meeting minimum capital requirements to strengthening their balance sheets, improving risk management, and enhancing claims settlement.
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