Regency Alliance Insurance Plc has launched a N3.04 billion rights issue to strengthen its capital base and fund business expansion, the company announced in a statement dated June 17, 2026. The signing of the execution agreement took place at the insurer’s corporate headquarters in Lagos, according to the document signed by Company Secretary Anu Shobo.
The capital raise is designed to improve underwriting capacity, support digital infrastructure expansion, and finance new product development across Nigeria. The offer gives existing shareholders a chance to increase their ownership stake in the company, the insurer said.
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Under the terms of the rights issue, Regency Alliance is offering 3.201 billion ordinary shares of 50 kobo each at 95 kobo per share. Current shareholders can subscribe to one new ordinary share for every five shares they already hold.
The acceptance list opens on June 22, 2026, and closes on July 3, 2026. Eligible shareholders were encouraged to submit their applications within that period.
Speaking at the signing ceremony, Chief Wale Taiwo, SAN, Acting Chairman of Regency Alliance, described the move as a statement of belief. “This capital raise will give us the firepower to meet evolving risks, expand our reach, and deepen the promise we make to every policyholder that Regency Alliance will be there when it matters most,” he said.
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Managing Director Bode Oseni said the proceeds would accelerate the company’s digital transformation and improve claims handling. He added that the funds would allow the introduction of products tailored to small and medium enterprises, Gen Z customers, and other underserved groups across Nigeria and beyond.
The insurer noted that the rights issue protects existing shareholders from dilution while letting them participate in future growth. The proceeds will support underwriting capacity, technology investments, and customer experience improvements.
In October, the company sought shareholder approval for a N3 billion share issuance as part of a broader strategy to comply with regulatory changes. That move came in response to a directive requiring insurance firms to increase their capital base.
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The current rights issue builds on those earlier plans. It follows the signing of the Nigerian Insurance Industry Reforms Act 2025 into law by President Bola Ahmed Tinubu. The company said all regulatory approvals for the offer have been secured from the Securities and Exchange Commission and Nigerian Exchange Limited.
With the agreement signed, Regency Alliance will proceed with shareholder communications and offer implementation in line with regulatory requirements. The company described the offer as part of efforts to sustain value creation through disciplined underwriting, responsive service, and prudent financial management.