NAICOM cancels Universal Insurance Plc’s registration, appoints Receiver/Provisional Liquidator

By Innocent AnabaThe National Insurance Commission, NAICOM, has cancelled the certificate of registration of Universal Insurance Plc and appointed a receiver/provisional liquidator to commence the process of winding up the affairs of the insurance company.
The cancellation, which took effect on August 14, 2026, followed the company’s alleged failure to meet the prescribed Minimum Capital Requirement, MCR, applicable to its category of licence within the stipulated compliance period.
In a