REGENCY Alliance Insurance Plc has moved to formally incorporate virtual general meetings into its corporate governance framework, allowing shareholders to attend, vote and participate in company meetings electronically.
The insurer disclosed this in resolutions passed at its annual general meeting held on October 6, 2026, in Lagos, where shareholders approved amendments to Clause 44 of the company’s Articles of Association.
Under the revised provisions, shareholders attending meetings electronically will enjoy the same rights as those participating physically, including the right to speak, vote, ask questions and contribute to proceedings.
The amendments also empower the board to determine the electronic platforms for conducting virtual meetings and establish procedures for verifying the identities of shareholders and their proxies.
Electronic participants will count towards the quorum required for general meetings, provided they can participate effectively in the proceedings.
The board is also authorised to introduce rules to ensure the orderly and secure conduct of virtual meetings, subject to applicable laws and regulatory requirements.
READ ALSO: Regency Alliance Insurance completes recapitalisation process
The decision represents a formal shift in the company’s meeting arrangements, potentially reducing the geographical and logistical barriers that prevent some shareholders from participating in annual and other general meetings.
At the meeting, shareholders also approved the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, independent auditors and audit committee.
They re-elected HRM Oba Dr Francis Olusola Alao and Dr Sammy Olaniyi as non-executive directors following their retirement by rotation.
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Shareholders also elected Chief Amos Idowu, Solomon Sunday Akinsanya and Dr Akin Oladeji as their representatives on the Statutory Audit Committee, alongside board representatives Kehinde Oyadiran and Oba Alao.
The meeting further approved the appointment of Adegoke Adewole & Co as the company’s external auditor for the financial year ending December 31, 2026, with the directors authorised to determine its remuneration.
Shareholders also approved the remuneration of non-executive directors for the year.
The resolutions were signed by company secretary, Anu Shobo. Regency Alliance has announced the successful completion of its recapitalisation process, strengthening its capital base and positioning the company to take on larger risks.
The insurer disclosed this in a statement dated August 14, 2026, notifying the Nigerian Exchange Limited (NGX), shareholders, policyholders, brokers and other stakeholders of the milestone.
Regency Alliance said its name appeared on the list of insurance companies published by the National Insurance Commission (NAICOM) on August 13, confirming its successful completion of the recapitalisation exercise.
