Sovereign Trust: Recapitalisation Reinforces Our Financial Strength, Commitment to Growth
Ebere Nwoji Sovereign Trust Insurance Plc, has said that it has successfully met the new recapitalisation requirement for non-life insurance companies prescribed by the National Insurance Commission (NAICOM), under the
Sovereign Trust Insurance Plc has successfully met the new recapitalisation requirement set by Nigeria's National Insurance Commission (NAICOM) under the newly passed Nigeria Insurance Industry Reform Act (NIIRA) 2025. This accomplishment, according to Dr. Lucas Durojaiye, the Managing Director and Chief Executive Officer of the company, underscores the firm's financial robustness and dedication to sustained growth.
The achievement, Dr. Durojaiye emphasized, marks a pivotal step in Sovereign Trust's strategy to fortify its position as a resilient and forward-thinking insurance enterprise, better equipped to seize the opportunities presented by Nigeria's burgeoning insurance sector. The company's triumph, he noted, is a testament to the trust placed in its strategic vision by its shareholders and stakeholders.
"This milestone underscores our financial capacity and unwavering commitment to upholding the highest standards of corporate governance," Dr. Durojaiye stated. The company remains steadfast in its mission to deliver enduring value to all its stakeholders, including policyholders, shareholders, brokers, and agents, by harnessing the power of technology, embracing innovation, and prioritising customer-centric insurance solutions across Nigeria.
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