The National Insurance Commission has released a draft of revised guidelines for micro insurance operations in Nigeria.
The draft guidelines have been sent to Chief Executive Officers of insurance and reinsurance companies, the Nigerian Insurers Association, the Nigerian Council Of Registered Insurance Brokers and other bodies to make their inputs.
Meanwhile, NAICOM says it has received the 2016 financial reports of 49 insurance companies operating in the country.
The commission explained that accounts of 39 companies had been approved, while that of eight companies are still under review.
The remaining two companies are being queried for various reasons.