Nigerian insurers cede $46 billion of risks overseas

Nigerian insurers ceded more than $46 billion of risk to international insurers out of a total of $146 billion in premium collected by the top 11 companies including Nigerian National Petroleum Corp. and Chevron Nigeria Ltd. in 2018, Vanguard reported. Nigeria's insurance regulated said that a proposed recapitalization regime will strengthen local insurers' capacity to retain more risks locally.

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