Common Insurance coverage Plc has obtained shareholder approval to lift as much as N15 billion in contemporary capital, following resolutions handed at its Extraordinary Basic Assembly (EGM) held in Lagos.
The approval was disclosed in an announcement dated February 10, 2026, signed by the Firm Secretary, Chinedu Onyilimba, and filed with the Nigerian Trade (NGX).
The deliberate capital elevate is geared toward assembly new regulatory minimal capital necessities and strengthening the corporate’s monetary base.
What they’re saying
Based on the assertion, shareholders authorised the Board of Administrators to lift further capital by varied funding channels, together with public choices, personal placements, rights points, or a mix of strategies, in each home and worldwide capital markets.
- “That the Board of Administrators of the Firm be and are hereby approved to lift further capital for the aim of assembly the minimal capital requirement as required underneath the related legal guidelines of as much as Fifteen Billion Naira (N15,000,000,000.00) by the use of Public Choices, Personal Placements, Rights Situation or some other technique or mixture of strategies, whether or not within the Nigerian or worldwide capital markets,” the assertion learn.
Shareholders additionally permitted the revalidation and issuance of 14 billion authorised however unissued shares to facilitate the capital elevate. The place mandatory, the corporate could enhance its share capital additional to accommodate the brand new funding.
As well as, the Board has been empowered to hunt listings on the NGX and different worldwide exchanges, appoint skilled advisers, and amend the corporate’s Memorandum and Articles of Affiliation to mirror the revised share construction.
The approval represents a key milestone in Common Insurance coverage’s technique to attain regulatory compliance and place the corporate for long-term development.
Backstory
Final month, Common Insurance coverage Plc introduced plans to hunt shareholder approval to lift as much as N15 billion to adjust to the Nationwide Insurance coverage Fee’s (NAICOM) revised minimal capital necessities for non-life insurers.
- In a discover to the NGX, the corporate stated the proposal could be introduced at an EGM scheduled for February 5, 2026, in Lagos.
- Below NAICOM’s 2025 Insurance coverage Trade Reform Act, non-life insurance coverage corporations are required to keep a minimal capital base of N15 billion.
- Common Insurance coverage presently has 16 billion issued shares held by present shareholders on the NGX, with a share capital of N8 billion, in line with its nine-month 2025 monetary statements.
The deliberate issuance of 14 billion shares is anticipated to assist the corporate meet the regulatory threshold whereas leveraging investor curiosity following its robust market efficiency in 2025.
Extra insights
Common Insurance coverage ranked because the sixth-best performing insurance coverage inventory on the NGX in 2025, delivering an 83.33 % return.
- Its share value rose from N0.66 in the beginning of the 12 months to N1.21 by year-end, with buying and selling quantity exceeding 6 billion shares.
- The inventory skilled early volatility, declining to N0.64 in January and falling additional to N0.52 by April. Regardless of temporary rebounds in Could and June, it remained down about 6 % at mid-year.
- Nonetheless, renewed investor curiosity within the second half of the 12 months drove a powerful restoration, with the share value climbing from N0.78 in July to N1.20 by August.
Regardless of some fluctuations towards year-end, the inventory closed 2025 at N1.21.
The rally was supported by improved monetary efficiency and total power within the insurance coverage sector, because the NGX Insurance coverage Index gained 65.64 % through the 12 months.
What you must know
In August 2025, the Federal Authorities introduced a fivefold enhance in minimal capital necessities for insurance coverage operators, giving corporations 12 months to conform or danger shedding their licenses.
The directive, issued by NAICOM underneath the newly enacted Insurance coverage Trade Reform Act signed by President Bola Ahmed Tinubu, goals to strengthen the sector’s monetary resilience.
Below the brand new framework, minimal capital necessities have been raised as follows:
- Non-life insurers: from N3 billion to N15 billion
- Life insurers: from N2 billion to N10 billion
- Reinsurers: from N10 billion to N35 billion
The reforms are designed to boost insurers’ risk-bearing capability, enhance claims settlement, and increase investor confidence within the trade.
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