Launching of two new takaful insurance companies in Nigeria

Two new takaful insurance companies, Cornerstone Takaful Insurance Company and Salam Takaful Insurance Company, have just been authorized by the National Insurance Commission (NAICOM) to practice on the Nigerian insurance market. The two new entities will operate in life and non-life insurance.

The newly-created companies bring the number of takaful companies operating in Nigeria to four. Noor Takaful and Jaiz Takaful obtained their licences in 2016.