LAGOS — The insurance sector raised an additional N1.079 trillion during the recapitalisation exercise, the Commissioner for Insurance, Olusegun Omosehin, said. Forty-eight insurers and two reinsurers have been relicensed, and 24 companies raised fresh capital. The licences of six companies, including Nicon, Nigeria Re and Goldlink, were cancelled, and the Nigerian Agricultural Insurance Corporation will now be limited to agricultural business. Omosehin said policyholders of the affected companies are protected through liquidators and the Policyholders Protection Fund.