Regency Alliance Insurance Plc has signed a Private Placement Agreement as part of its recapitalisation programme, in a move aimed at strengthening its capital base and meeting the minimum paid-up share capital requirements set by the National Insurance Commission (NAICOM).
The company stated this in a statement signed by its company secretary, Anu Shobi released on the Nigerian Exchange (NGX). The company said, the placing lists opens on July 15, 2026 and to close on July 16, 2026.
The company said that the formal signing ceremony, which was held on July 10, 2026 is another major milestone setting the stage for the next phase of its capital raise and strategic expansion.
It added that the private placement of 7.368 billion ordinary shares of the Company is designed to strengthen the company’s capital base, improve solvency Margins, enhance underwriting capacity, support business expansion and fund key investments in technology, product innovation, and customer experience.
The Company emphasised that the execution of the private placement agreement represents significant milestone in the Company’s recapitalisation programme and reflects the confidence of strategic investors in the governance framework, financial prospects and long-term strategy of Regency Alliance Insurance Plc.
Regency Alliance added that “the board remains committed to completing the transaction in an orderly and transparent manner while maintaining the highest standards of corporate governance and regulatory compliance.
“The private placement forms part of the company’s strategic capital enhancement programme designed to strengthen its capital base, support future business growth’ enhance underwriting capacity and ensure continued compliance with the minimum capital requirements prescribed by NAICOM.”
Regency Alliance also said that the additional capital will position the Company to pursue new business opportunities, improve operational resilience, deepen market penetration and reinforce its long-term commitment to delivering sustainable value to shareholders’ policyholders and other stakeholders.
