Rex Insurance Meets NAICOM’s New Capital Requirement, Reinforces Financial Strength

Rex Insurance Limited said it has met the new minimum capital requirement, prescribed by the National Insurance Commission (NAICOM) under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, further reinforcing its financial strength and underwriting capacity.
The confirmation followed NAICOM’s publication of insurance companies that have complied with the new capital threshold, a key phase in the ongoing industry recapitalisation exercise.
Rex Insurance said the compliance reflects its disciplined financial management, strong corporate governance, and strategic vision that have positioned it as a resilient organisation.
The company noted that meeting the requirement enhances its ability to deliver greater value to customers while supporting national economic growth.
“This achievement marks the beginning of a new phase in the Company’s journey, one focused on sustaining capital strength, accelerating profitable growth, enhancing operational excellence, and delivering superior customer value,” Rex Insurance stated.
Speaking, the managing director/chief executive officer, Mrs. Ebelechukwu Nwachukwu said, the development demonstrates the resilience of the business and shareholder confidence in the company’s long-term strategy.
“Meeting the new minimum capital requirement is a significant milestone in our journey and demonstrates the resilience of our business as well as the confidence of our shareholders in our long-term vision. It also reinforces our ability to honour our commitments to policyholders while positioning us for sustainable growth in an evolving insurance landscape,” Nwachukwu said.
She added that the stronger capital base will enable Rex Insurance to scale up operations and improve service delivery.
“Our recapitalisation is not an end, but a strategic foundation for sustainable growth and long-term value creation. With a stronger capital base, we are well equipped to increase our underwriting capacity, elevate customer experience, and deepen our investment in technology, innovation, and operational excellence,” she stated.
Rex Insurance commended NAICOM for providing leadership in strengthening the sector through the recapitalisation exercise, describing it as critical to building a more resilient, competitive, and inclusive insurance market.
With the new capital in place, Rex Insurance said it will prioritise prompt claims settlement, smarter insurance solutions, and strategic investments aimed at deepening insurance penetration in Nigeria.
As the industry enters a new phase of growth, Rex Insurance’s focus now shifts from achieving capital adequacy to sustaining capital strength through disciplined execution, profitable growth, continuous innovation, and exceptional customer experience.
The Company remains committed to delivering reliable insurance solutions, honouring its promises to policyholders, and creating sustainable value for all stakeholders while strengthening its position as a trusted insurance partner.
Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM) to offer the full range of general and special risks insurance products to the insuring public.
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