Universal Insurance secures N7.1 billion FPNG investment to meet NAICOM capital requirement
Universal Insurance Plc has entered into a binding investment agreement with FPNG Co-Nvest Limited for a N7.128 billion equity investment as the insurer moves to meet the National Insurance Commission’s (NAICOM) new minimum capital requirement. The post Universal Insurance secures N7.1 billion FPNG investment to meet NAICOM capital requirement appeared first on Nairametrics .
Universal Insurance Plc has reached a binding investment agreement with FPNG Co-Nvest Limited, agreeing to a N7.128 billion equity investment to meet the new capital requirement set by the National Insurance Commission (NAICOM). The investment will be made through a private placement in exchange for additional shares in Universal Insurance.
The deal was announced in a filing with the Nigerian Exchange on August 14, 2026, and approved by the company's board and shareholders. Under the agreement, FPNG will become the majority shareholder of Universal Insurance, holding a 50.1% stake upon completion. The company stated that it will continue working with NAICOM to finalize the recapitalization process and comply with all regulatory requirements.
This investment marks FPNG Co-Nvest Limited's second significant investment in a Nigerian company, following their acquisition of a 7.01% stake in Thomas Wyatt Nigeria Plc in October 2025.
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