Reinsurance, the practice of insurers transferring portions of their risk portfolios to other parties, provides stability for insurance industries worldwide. In Nigeria, with the country’s rapidly growing economy, strengthening the reinsurance sector is essential for sustainable economic growth and long-term financial security. Recapitalization, the boosting of an organization’s capital and financial stability, is a crucial step towards building a robust reinsurance industry in Nigeria. Heavily recapitalizing Nigeria’s reinsurance sector will unlock immense potential, minimize risks, and create a strong foundation for Nigeria’s booming economy. Improved Financial Stability and Capacity to Underwrite Risks Recapitalization of the Nigerian reinsurance industry will exponentially increase its financial capacity to accept and effectively underwrite more significant risks. With a solid financial base, Nigerian reinsurers can carry a more significant share of the risk on big-ticket transact...