NAICOM approves 46 financial accounts of insurance companies
NAICOM: STATUS OF 2023 FINANCIAL STATEMENTS OF INSURANCE COMPANIES AS AT 28TH OCTOBER 2024
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The regulatory body of Nigeria’s insurance industry, National Insurance Commission, has approved 46 financial accounts of re/insurance companies for the 2023 financial period as of the end of October 28, 2024.
It disclosed this in a report obtained by Dailyeconomy on Friday, titled ‘Status of 2023 financial statements of insurance companies as at 28th October 2024.
According to figures obtained from NAICOM’s website, there are 27 general insurance companies, 13 life insurance companies, 13 composite insurance companies, and three reinsurance companies.
The regulator had set January 2024 as the deadline for the regulated entities to fully migrate to the International Financial Reporting Standard IFRS 17, from the previous IFRS 4.
