Wapic Insurance: share capital increase

Wapic Insurance has increased its capital by 6.5 billion NGN (17.9 million USD) at 15 billion NGN (41.3 million USD) henceforth.

Nigerian insurers are urged to comply with the new minimum capital requirements imposed by the National Insurance Commission (NAICOM). In order to operate, composite insurance companies (life and non-life) must be endowed with a minimum share capital of 18 billion NGN (49.6 million USD) by 2020.