Shareholders count losses as Universal Insurance stock crashes after NAICOM licence revocation
Shareholders have started counting their losses after the Nigerian National Insurance Commission, NAICOM revoked the licence of Universal Insurance, also known as Univinsure. DAILY POST reports that NAICOM’s revocation of Univinsure’s licence took effect on August 14, 2026. NAICOM said Univinsure failed to raise its N15 billion capital after the July recapitalisation deadline elapsed. In […]…
Shareholders are grappling with losses following the revocation of Universal Insurance's licence by the Nigerian National Insurance Commission (NAICOM) on August 14, 2026. According to DAILY POST, NAICOM revoked Univinsure's licence due to the company's failure to raise an additional N15 billion in capital after the July deadline.
This move, in line with the Nigerian Industry Reform Act 2025, led to a 36% decline in Univinsure's stock, dropping it to 77 kobo in 2026. Financial expert Rufybaba on X warns that the firm may not trade on the Nigerian stock market again, putting shareholders at an estimated N13.6 billion loss. The company is now expected to appoint a receiver or liquidator, and its assets will be sold to settle debts, with any remaining value distributed to shareholders.
The insurance sector in Nigeria is facing intense pressure due to NAICOM's implementation of the NIIRA, affecting firms like Nigerian Reinsurance Corporation and its sister firm, NICON. Amidst this, NAICOM's Minister, Taiwo Oyedele, ordered the suspension of disputed recapitalisation fees, causing debate over the actions taken by the Commission.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
