Its shareholders have given Universal Insurance Plc the green light to raise ₦15 billion in capital following resolutions reached during the Extraordinary General Meeting held on Thursday, February 5, 2026, news.ng reports.
The approval is intended to enable the insurance firm to meet regulatory requirements and strengthen its financial position in the insurance sector.
In a notice filed with the Nigerian Exchange (NGX), the company stated that the funds will be raised through various instruments and methods, including public offerings, private placements, rights issues, or any other methods in line with sector regulations.
According to the notice, the capital raise may be conducted in the Nigerian capital markets or any international capital markets at prices within acceptable valuation ranges.
Furthermore, shareholders approved the board’s request to revalidate, regularise, and issue 14 billion ordinary shares from the firm’s authorised but unissued legacy shares solely for the capital raise, subject to regulatory approvals.
Shareholders also approved provisions allowing the insurance firm to increase its share capital using additional ordinary shares if the unissued shares do not meet the required target.
More details are contained in the release issued on Wednesday.
