Nigeria’s National Insurance Commission (NAICOM) said it will not extend the insurance industry’s recapitalisation deadline, setting 31 July 2026 as the final date. The new requirements lift minimum capital to N10bn for life insurers, N15bn for non-life operators and N35bn for reinsurers. The mandatory increase is backed by the Nigeria Insurance Industry Reform Act and is aimed at strengthening the sector’s resilience and supporting the government’s $1tn economy target. With less than two weeks to the deadline, the regulator said there would be no rollover.