National Insurance Commission

National Insurance Commission

The National Insurance Commission is a statutory agency of the Federal Government of Nigeria established by the law to regulate and supervise the Nigerian Insurance Sector. The Commission derives its regulatory powers from the National Insurance Commission Act 1997 and the Insurance Act 2003.

The principal object of the Commission is to ensure the effective administration, supervision, regulation and control of insurance business in Nigeria.

Accordingly, insurance/reinsurance companies, Insurance Brokers, Loss Adjusters and Agents fall within the regulatory purview of the Commission.