Regency Alliance opens N3.04 billion rights issue to boost capital base

Regency Alliance Insurance Plc has launched a N3.04 billion rights issue aimed at strengthening its capital base and supporting business expansion.

This was disclosed in a statement dated June 17, 2026, signed by the Company Secretary, Anu Shobo.

The company said the rights issue follows the signing of its execution agreement at its corporate headquarters in Lagos.

It added that the capital raise will enhance underwriting capacity, support digital infrastructure expansion, and fund new product development across Nigeria.

According to Regency Alliance Insurance, the rights issue gives existing shareholders an opportunity to increase their ownership in the company. The insurer said the offer is part of efforts to sustain value creation through disciplined underwriting, responsive service, and prudent financial management.

Speaking at the signing ceremony, Chief Wale Taiwo, SAN, Acting Chairman of Regency Alliance, said the signing is a testament of belief.

Also commenting, the Managing Director, Mr. Bode Oseni said the capital raise will enable the company to introduce innovative product tailored to SMEs and Gen Z.

The company said the offer is also expected to support its long-term growth plans and improve its ability to respond to changing risks in the insurance market.

Eligible shareholders were encouraged to complete and submit their applications within the stipulated period.

The rights issue will allow Regency Alliance Insurance to raise fresh capital while giving existing shareholders the opportunity to maintain their level of ownership. The company said this structure protects shareholders from dilution while allowing them to participate in its future growth.

The company said that with the agreement now signed and all regulatory approvals secured, it will proceed with shareholder communications and offer implementation in line with the requirements of the Securities and Exchange Commission and Nigerian Exchange Limited.

In October, Nairametrics reported that Regency Alliance Insurance sought shareholders’ approval for a N3 billion share issuance. The move formed part of the company’s broader strategy to comply with regulatory requirements, strengthen its financial base, and position itself for future growth.

The development reflects Regency Alliance Insurance’s push to improve its capital position while preparing for regulatory and market changes in Nigeria’s insurance industry.