KBL Insurance Limited has successfully surpassed the National Insurance Commission’s (NAICOM) minimum capital requirement of N15 billion under the Nigeria Insurance Industry Reform Act (NIIRA) 2025.

The landmark achievement places KBL Insurance among the insurers officially confirmed by NAICOM as fully compliant with the new regulatory capital requirements, further reinforcing the Company’s financial resilience, corporate stability and long-term capacity to serve policyholders, businesses and the wider Nigerian economy.

The successful recapitalisation marks the culmination of a carefully executed strategic initiative designed to strengthen the Company’s capital base, expand its underwriting capacity, enhance its ability to absorb larger and more sophisticated risks, and position the organisation for sustained growth in an increasingly competitive insurance landscape.

The milestone also builds upon KBL Insurance’s earlier announcement of successful investor participation in its recapitalisation programme, a strategic exercise that has now culminated in the Company exceeding the statutory capital requirement prescribed by NAICOM.

Commenting on the achievement, Lawal Mijinyawa, managing director/CEO of KBL Insurance Limited, described the accomplishment as a defining milestone in the Company’s corporate evolution and a powerful endorsement of stakeholders’ enduring confidence in its strategic direction.

“Successfully exceeding the regulatory capital requirement represents a significant milestone for KBL…