Nigeria: Insurance Laws and Products

Nigeria's Insurance Regulatory Sandbox, operational since 2023, offers a controlled testing environment for innovative insurance structures. Could this framework provide the pathway for establishing a domestic Protection & Indemnity mutual club, addressing a critical gap in Nigeria's maritime insurance sector while navigating the complex regulatory requirements of NAICOM, NIMASA, and local content legislation?

Nigeria's landmark insurance reform has inadvertently complicated the establishment of a domestic Protection and Indemnity club, creating a fundamental tension between modern regulatory requirements and the mutual structure essential to marine liability insurance. Can the National Insurance Commission leverage existing legal provisions to bridge this gap and capture billions in annual premiums currently flowing to foreign institutions?

The Nigerian Insurance Industry Reform Act 2025 introduces sweeping changes to motor vehicle insurance regulation, expanding mandatory coverage requirements and increasing liability limits. How will these reforms impact vehicle owners, operators, and insurers operating within Nigeria's transport sector?

The Secretary General of the International Maritime Organization (IMO), Mr. Arsenio Domínguez, has praised Nigeria's maritime achievements, highlighting its three - year streak...

This article explores the need for better and more responsible communication between football clubs and officials of the Nigeria National League (NNL) as an important prerequisite to protecting the image and integrity of the game.

President Bola Ahmed Tinubu has assented to the Nigerian Insurance Industry Reform Act, 2025 (NIIRA 2025), marking the most comprehensive overhaul of Nigeria's insurance regulatory framework in over two decades.

Mergers and Acquisitions (M&A) transactions in Nigeria - much like in other jurisdictions - involve complex negotiations and significant financial stakes.

Underwriting has its origins in the insurance industry, where it entailed assuming risks connected to potential losses.

Company registration in Nigeria in certain industries and economic sectors are govern by statues and other regulations in force that stipulate a minimum share capital threshold before a company