After Sacking Board, Management of African Alliance, NAICOM Speaks on Next Move [Video]

• Weak insurance firms in the country may soon lose their position in the market according to the National Insurance Commission
• This came after NAICOM sacked the board and management of Africa Alliance Insurance and appointed an interim board
• The commission said with what happened in African Alliance, an operational line has been drawn for insurance companies in the country

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The National Insurance Commission (NAICOM) has threatened to implement measures against insurance companies that exhibit signs of weakness and are unable to fulfill their claims and other obligations.

As a result, weak insurance companies in the nation may soon lose their place in the market.

Recently, the commission fired Africa Alliance Insurance’s board and management and appointed an interim board and management to take over the company’s operations going forward.

According to the …