The National Insurance Commission (NAICOM), has issued an operational licence to Nigeria Police Force (NPF) Insurance Company Limited to commence general insurance business in Nigeria.
This is coming despite a recent opposition from some stakeholders in the insurance sector who objected to the idea of granting insurance licence to the organization.
According to a notice by NAICOM on its official X (formerly Twitter) account on Friday, November 29, 2024, the insurance regulator said NPF Insurance Company Ltd was presented with the operational licence having successfully fulfilled all registration requirements.
The licence was handed over to NPF Insurance by the Commissioner of Insurance, Olusegun Ayo Omosehin, in his office in Abuja, where he congratulated the company for meeting all the necessary regulatory standards, and expressed confidence in its potential to contribute to the development of the industry.
The notice from NAICOM reads, ‘’NAICOM today, November 29, 2024, presented an operational license to NPF Insurance Co. Ltd to commence general insurance operations in Nigeria, having successfully fulfilled all registration requirements.’’
More to follow…