Universal Insurance’s N7.1bn rescue deal collides with licence revocation

Universal Insurance’s operating licence has been revoked by NAICOM due to capital shortfalls, jeopardising a N7.1bn rescue deal. Learn more about the Unive

By Innocent Anaba The National Insurance Commission (NAICOM) has revoked the license  of Universal Insurance Plc and appointed a receiver/provisional liquidator to commence the process of winding up the company’s affairs. The cancellation, which took effect on August 14, 2026, followed the company’s alleged failure to