{
  "id": 5485437,
  "title": "NAICOM Unveils Initiative to Raise Insurance Penetration to 10% of GDP by 2031",
  "url": "https://urgent.news/2026/09/04/naicom-unveils-initiative-to-raise-insurance-penetration-to-10-of-gdp",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T03:53:13.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/04/naicom-unveils-initiative-to-raise-insurance-penetration-to-10-of-gdp-by-2031/"
  },
  "original_language": "en",
  "account": "The National Insurance Commission (NAICOM) has introduced a five-year industry-wide initiative aimed at dramatically increasing insurance penetration in Nigeria from its current 0.5% of Gross Domestic Product (GDP) to 10% by 2031. The ambitious target is outlined in the Insurance Sector Strengthening Programme (ISSP), a collaborative effort launched by NAICOM in partnership with stakeholders in the insurance sector.",
  "summary": "• Insurers target 25 million Nigerians, 6,000 professionals, 250,000 MSMEs in 5-year ISSP blueprint • Omosehin demands stronger underwriting, governance, claims settlement •Leadway Assurance: programme will deepen penetration, confidence, trust",
  "key_points": [
    "NAICOM launches five-year initiative to boost insurance penetration.",
    "Target is to raise insurance penetration to 10% of GDP by 2031.",
    "Initiative is Insurance Sector Strengthening Programme (ISSP) with stakeholders."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}