Royal Exchange Plc has clarified that it has no ownership or control over Royal Exchange Prudential Life Plc (REPRU), following the revocation of the insurer’s operating licence by the National Insurance Commission (NAICOM).
The clarification was contained in a notice dated September 11, 2026, and signed by Lovelyn Aniekwe on behalf of OOT Nominees Ltd, the company secretary.
The disclosure was issued in compliance with Rule 17, Part II (Issuers’ Rules) of the Nigerian Exchange (NGX) Rule Book.
According to the company, the statement became necessary following public reports linking Royal Exchange Plc to regulatory actions taken against REPRU.
The company explained that although REPRU previously formed part of the Royal Exchange Group and continues to bear the Royal Exchange name, it ceased to be under the ownership or control of Royal Exchange Plc following the disposal of its stake in August 2022.
It further emphasized that REPRU’s financial position, operations, regulatory obligations, and current status are entirely separate from those of Royal Exchange Plc.
Royal Exchange stressed that NAICOM’s decision to revoke REPRU’s licence has no impact on its own operations, assets, liabilities, regulatory standing, or financial position.
The company reaffirmed its commitment to strong corporate governance, regulatory compliance, and prudent financial management, while thanking shareholders and stakeholders for their continued confidence and support.
NAICOM revoked REPRU’s operating licence on August 4, 2026, after the company failed to meet the minimum capital requirements stipulated under the industry recapitalisation programme.
Last month, shareholders of Royal Exchange accused MediPlan Healthcare Limited of failing to recapitalise REPRU within the timeline prescribed by NAICOM.
The shareholders further claimed that following the alleged default, MediPlan did not return ownership of REPRU to Royal Exchange Plc as stipulated under the agreement.
The revocation comes in the wake of NAICOM’s industry-wide recapitalisation exercise, one of the most significant reforms in Nigeria’s insurance sector in recent years.
Industry analysts view the recapitalisation programme as a major step toward strengthening the financial capacity, solvency, and resilience of Nigeria’s insurance industry while improving policyholder protection and investor confidence.
