Nigeria’s expanding population and growing awareness of financial and asset protection have created significant opportunities in the insurance sector. The insurance industry plays a vital role in Nigeria’s economy by providing financial protection against unforeseen risks and promoting confidence in commercial and personal transactions. Launching an insurance company in Nigeria goes beyond securing funds; it requires navigating complex regulations, licensing procedures, and compliance checks. With the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, the industry has undergone major changes. This Act consolidates fragmented laws such as the Insurance Act of 2003 and the Nigeria Reinsurance Corporation Act … Continue reading HOW TO SET UP AN INSURANCE COMPANY IN NIGERIA