NAICOM dispatches Standard Alliance Insurance, Niger Insurance to the undertakers

In a renewed effort to weed-out non-performing underwriting firms in the insurance industry in Nigeria, the National Insurance Commission (NAICOM) has announced the cancellation of the operating license of Standard Alliance Insurance Plc and Niger Insurance Plc.

In a statement signed by ‘Rasaaq Salami, Head Corporate Communications and Market Development, for the Commission and obtained by AssurPen Online said “This is to notify all insurance stakeholders and members of the public that the National Insurance Commission (NAICOM) has cancelled the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029, with effect from the 21st day of June, 2022.

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As a result, the Commission has appointed Receiver/Liquidator Managers to the two companies.

The Commission assures all stakeholders of the safety and protection of their interests.

The press statement said NOTICE OF CANCELLATION OF THE CERTIFICATES OF REGISTRATION OF NIGER INSURANCE PLC AND STANDARD ALLIANCE INSURANCE PLC

This is to notify all insurance stakeholders and members of the public that the National Insurance Commission, NAICOM has CANCELLED the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 with effect from the 21st day of June, 2022.

Consequently, the Commission has appointed Sanya, Ogunkuade Esq of Plot 217, Upper Grace Plaza, 3rd Floor (Left Wing), Shetima Munguno Crescent, Behind Julius Berger Equipment Yard, Utako, Abuja as the Receiver/Liquidator for Niger Insurance Plc and, Kehinde Aina Esq of Aina Blankson LP, 5/7, Ademola Street, SW Ikoyi, Lagos as the Receiver/Liquidator for Standard Alliance Insurance Plc.

All stakeholders are advised to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action.

The Commission assures all stakeholders of the safety and Protection of their interests.

‘Rasaaq ‘Salami Head, Corporate Communications and Market Development
For: Commissioner For Insurance, NAICOM.

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