Business News
GOXI Emerges First Micro Insurer In Nigeria As NAICOM Grants Approval
By CLEMENT NWOJI, Abuja
The National Insurance Commission (NAICOM) has approved GOXI Microinsurance Company Limited to operate as a State Composite Microinsurance Company transacting Life and General Micro insurance Business in Lagos State only.
The approval was granted as part of the Commission’s efforts towards enhancing specialisation in products and services by insurers and deepening insurance penetration.
It is in tandem with its drive to ensure insurance market development through enhanced access points for Insurance services in Nigeria.
A statement by the NAICOM’s Spokesman, Salaami‘Rasaaq, confirming the approval said: “This is one of several applications received in the Commission from individuals and corporate entities requesting approval for registration as Micro Insurance operators.
“GOXI Microinsuranoe Company Limited thus become the first full fledged standalone Micro Insurance Operator in Nigeria.”
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