Linkage Assurance completes N16.2bn rights issue to meet NAICOM capital mandate

Linkage Assurance Plc announced the successful completion of a N16.2 billion rights issue, issuing 12.32 billion ordinary shares at N1.32 each. The offer opened on 11 March 2026 and closed on 23 April 2026, receiving full subscription from shareholders. All shares were allotted following approval by the Securities and Exchange Commission and have been listed on the Nigerian Exchange Limited.

The capital raise satisfies the new minimum capital requirement imposed by the National Insurance Commission (NAICOM) under Nigeria’s Insurance Industry Reform Act, 2025. Proceeds will be used to meet the regulatory capital floor and to fund strategic business expansion, enhancing underwriting capacity and service delivery within the country’s insurance market.