Insurance recapitalisation

The NGX Insurance Index ended the day as the worst-performing sector on the Nigerian Exchange, dropping 1.35 per cent to 1,324.09 points, as investors kept pulling back ahead of the industry’s looming recapitalisation deadline. Even so,…

Sovereign Trust Insurance Plc is ready to roll out a N5 billion Rights Issue as the first phase of its step-by-step recapitalisation plan to meet the new capital requirements set by the Nigerian Insurance Industry Reform Act (NIIRA). The…