Nigeria: Prudential Zenith Life Insurance Exceeds NAICOM's Minimum Capital

23 September 2026
This Day (Lagos)

Ebere Nwoji

Prudential Zenith Life Insurance has announced that it has met and exceeded the National Insurance Commission's (NAICOM) new minimum capital requirement for life insurers by N22.1 billion 191 percent above the regulatory threshold.

This has positioned the company among the most capitalised entities within the life insurance market segment. PZL received its new licence on August 5th, 2026 among the first set of forty-three insurers to be recertified.

The exercise is widely seen as a turning point for the sector, designed to restore public trust and position Nigeria's insurers to underwrite larger, more complex risks.

Speaking on the achievement, the Executive Director and Chief Operating officer of the company Afolabi Lawal, said: "As Nigeria's insurance sector enters this new phase of regulatory reform, capital strength is what separates insurers that can be trusted for the long term from those that cannot. Exceeding NAICOM's new requirement by ₦22.1 billion gives our customers real confidence that we will be there when they need us most, and gives us the platform to keep investing in this market."

As part of Prudential plc, a leading insurer and asset manager in Asia and Africa, Prudential Zenith Life Insurance combines global expertise with local insight to provide simple, accessible health and financial protection for individuals, families and businesses in Nigeria.

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