Linkage Assurance Plc has successfully completed its ₦16.2 billion rights issue, raising fresh capital to reinforce its financial position, comply with regulatory capital requirements and support future business expansion.
The insurer said the rights issue, which involved the issuance of 12.32 billion ordinary shares at ₦1.32 per share, received full subscription from shareholders. The offer opened on March 11, 2026, and closed on April 23, 2026.
Following approval by the Securities and Exchange Commission, all the shares have been allotted to subscribers and admitted for trading on the Nigerian Exchange Limited.
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The capital raise forms part of the company’s response to the National Insurance Commission’s recapitalisation programme, which seeks to strengthen the insurance industry’s financial capacity, improve resilience and enhance protection for policyholders.
Linkage Assurance said the successful completion of the offer demonstrates the confidence of shareholders in the board and management’s long-term strategy and commitment to sound corporate governance.
According to the company, the stronger capital base will enhance its underwriting capacity, improve customer service, support business expansion and position it to pursue new growth opportunities across key market segments.
The insurer said proceeds from the rights issue will primarily be deployed to meet NAICOM’s minimum capital requirement while also funding strategic initiatives aimed at improving operational efficiency, expanding market reach and strengthening its competitive position within Nigeria’s insurance industry.
The company reaffirmed its commitment to maintaining regulatory compliance, delivering innovative insurance solutions and creating sustainable value for customers, shareholders, employees and other stakeholders.
With the successful completion of the recapitalisation exercise, Linkage Assurance said it is well positioned to take advantage of emerging opportunities in Nigeria’s evolving insurance market while supporting economic growth through increased underwriting capacity and stronger financial resilience.
