The Receiver and Provisional Liquidator for Royal Exchange Prudential Life Plc has commenced an auction of the company’s assets following the revocation of its insurance licence by the National Insurance Commission (NAICOM). The auction process, with a deadline of October 9, 2026, aims to raise funds to settle the company’s outstanding obligations. NAICOM revoked the insurer’s licence in August 2026 after it failed to meet the statutory minimum capital requirements mandated by the Nigerian Insurance Industry Reform Act 2025. It is important to note that Royal Exchange Prudential Life is distinct from the publicly listed Royal Exchange Plc, which divested its stake in the firm in 2022.