Insurance recapitalisation

“I must still say that it is a misnomer that NAICOM thinks that the only way to develop the sector is just to be increasing capital year in, year out. Currently we are not able to return profit on the amount of capital we are working with. Insurance is totally undeveloped; I don’t know where the market is. The capital market is almost gone on its knees. Insurance is the least priority of the corporate world in Nigeria. Less than one per cent of our population carry one form of insurance or the other”

The Group Chairman, Mutual Benefits Assurance Plc, Dr. Akin Ogunbiyi

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