NAICOM approves two more Takaful insurance firms to operate in Nigeria

NIGERIA – The National Insurance Commission (NAICOM) has granted approval in principle to Cornerstone Takaful Insurance Company Limited and Salam Takaful Insurance Company Limited. Both companies were given approval as Composite Takaful operators to transact both family and general Takaful business in Nigeria. A statement from the commission said the approval in principle to the two new companies was in line with its drive for increased insurance penetration in the country. This new development brings the total number of wholly takaful operators to four as the regulator had in 2016…

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