KBL Insurance Backs NIIRA as Recapitalisation Deadline Nears

KBL Insurance Limited has reaffirmed its unwavering commitment to transparency, data integrity, and regulatory compliance, in alignment with the Nigeria Insurance Industry Reform Agenda (NIIRA) and the ongoing recapitalisation programme shaping the future of the nation’s insurance sector. The Company restated its full alignment with the objectives of NIIRA, a reform framework designed to strengthen […]

KBL Insurance Limited has reaffirmed its unwavering commitment to transparency, data integrity, and regulatory compliance, in alignment with the Nigeria Insurance Industry Reform Agenda (NIIRA) and the ongoing recapitalisation programme shaping the future of the nation’s insurance sector.

The Company restated its full alignment with the objectives of NIIRA, a reform framework designed to strengthen public confidence in insurance through robust data management, enhanced underwriting discipline, and improved operational efficiency.

In pursuit of these goals, KBL Insurance Limited said it has continued to adopt accurate data reporting standards and technology-driven processes that support industry-wide reforms and promote sustainable growth.

Commenting on the Company’s strategic direction, the Managing Director and Chief Executive Officer of KBL Insurance Limited, Lawal Mijinyawa, described NIIRA and recapitalisation as transformative opportunities rather than mere regulatory obligations.

“We at KBL Insurance Limited, view NIIRA and the recapitalisation programme as strategic levers for deepening trust, improving service delivery, and positioning the Company for long-term sustainability.

Our approach is deliberate, and we are confident in our readiness to meet both present and future expectations of the industry,” he said.

The KBL Insurance Limited said it had implemented targeted initiatives aimed at strengthening internal control systems, improving operational efficiency, and enhancing overall customer experience.

According to the organisation, these measures have also reinforced the Company’s financial position, ensuring preparedness for the recapitalisation exercise and underscoring its resolve to remain a resilient, well-capitalised, and customer-centric insurer.

The Company further assured its customers, brokers, and business partners that its operations remain stable and uninterrupted.

As part of its broader capital strategy, KBL Insurance Limited said it has continued to explore sustainable growth opportunities, prudent risk management practices, and strategic partnerships capable of delivering long-term value to stakeholders.