NAICOM revokes Unic Insurance operational licence

NAICOM grants operational licence to 4 Insurance companies, 1 Reinsurance  Newsdiaryonline

The National Insurance Commission has cancelled the operational licence of Unic Insurance Plc.

It disclosed this in a public notice on ‘Cancellation of operational licence of Unic Insurance Plc- RIC 043’.

The notice read, “This is to notify the general public/policyholders that, in exercise of the powers conferred on her by enabling laws, the National Insurance Commission has cancelled the operational licence issued hitherto to Unic Insurance Company with effect from 25th March, 2021

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“Consequently, the commission has appointed Hadiza Baba Gimba, as the receiver/liquidator to wind up the affairs of the company.”

It added, “The general public/policyholders are by this notice required to direct all enquiries and correspondence regarding Unic Insurance Plc to the receiver/liquidator who will be dealing with its liabilities in accordance with the pro IOC the Insurance Act 2003.”

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