James Emejo in AbujaThe National Insurance Commission (NAICOM), yesterday said it has commenced the issuance of new licence certificates to insurance companies that successfully met the new minimum capital requirements, a move aimed at strengthening the sector’s financial resilience and global competitiveness. In a statement, he congratulated the successful companies, noting that the completion of the recapitalisation exercise represents more than compliance with regulatory requirements. The NAICOM boss added that stronger balance sheets should translate into better value for policyholders and investors alike. A total of 43 insurance companies that successfully met the commission’s new minimum capital requirements are expected to receive the new licence certificates. NAICOM said the issuance of the certificates represents the beginning of a structured transition to enhanced capital standards aimed at improving the financial strength, stability and long-term sustainability of Nigeria’s insurance industry.