By Kehinde Ibrahim, Lagos
LINKAGE Assurance Plc has successfully concluded its N16.2 billion rights issue, strengthening its capital base as the insurer moves to meet the new minimum capital requirements prescribed by the National Insurance Commission, NAICOM.
The company raised the funds through the issuance of 12.32 billion ordinary shares at N1.32 per share. The rights issue, which opened on March 11, 2026, and closed on April 23, 2026, was fully subscribed by existing shareholders, underscoring continued investor confidence in the company’s financial position, management and long-term growth strategy.
Following approval by the Securities and Exchange Commission, SEC, all the shares offered under the issue were allotted to successful subscribers and subsequently listed on the Nigerian Exchange Limited ,NGX.
The capital-raising exercise was undertaken in response to NAICOM’s directive requiring insurance companies operating in Nigeria to recapitalise and meet the revised minimum capital thresholds for their respective categories of business.
Linkage Assurance said the successful completion of the exercise reflected the confidence of its shareholders and other stakeholders in the company’s governance framework, financial performance, strategic direction and management.
The insurer reaffirmed its commitment to maintaining full regulatory compliance, sound corporate governance and prudent risk management as it leverages its enhanced capital position to strengthen operations.
According to the company, the additional capital will enable it to meet the applicable minimum regulatory capital requirement while providing financial capacity to pursue business expansion opportunities in line with its long-term strategic objectives.
With the successful completion of the rights issue, Linkage Assurance is expected to be better positioned to expand its capacity, enhance service delivery to customers and create sustainable value for shareholders and other stakeholders.
The company maintained that the strengthened capital base would support its continued growth and reinforce its position in Nigeria’s evolving insurance market.
