AIICO Insurance wins 4 Pearl Awards, eyes micro insurance, bancassurance

From left: Creative Manager, AIICO Insurance Pl, Ademola Adenekan, Head, Strategic Marketing & Communications, Atinuke Jose; Head, Corporate Services, Phil Maduagwu; Executive Director, Technical Adewale Kadri and Principal Manager, Non-Life Business) Akinsola Akinsola at the award ceremony in Lagos.   Leave a comment and share Chuks Udo Okonta AIICO Insurance Plc. won four awards at […]

46 insurance firms have less than 2% market share – NAICOM

Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has revealed that 46 out of 57 insurance and re-insurance firms have less than two per cent of the insurance industry market share. According to the 2016 financial performance of insurance companies published on the website of NAICOM, Leadway Assurance Limited, has […]

NAICOM compels all insurers to register with CIIN

Kari Leave a comment and share Chuks Udo Okonta Very soon no staff of insurance company can operate without registering with the Chartered Insurance Institute of Nigerian (CIIN), Inspen can report. It was gathered that the National Insurance Commission (NAICOM) has vowed to issue a guideline that will compel all staff of Insurance Institutions in […]

CIIN eyes 3000 professionals in one year

Mrs Ashaye Leave a comment and share Chuks Udo Okonta We are presently on a drive to achieve an additional 3,000 members for the Institute within the next one year, the President, Chartered Insurance Institute of Nigerian (CIIN) Mrs Funmi Babington-Ashaye, has said. She disclosed this today at a media parley in Lagos, adding that […]

Law Union & Rock Insurance pays N1.25bn

From left: Olayiwola Olabisi, Chief Financial Officer; Mrs. Eyoanwan, Head, Human Capital Management; Olasupo Sogelola; Executive Director, Technical & Operations; Mrs. Olufolake Afolabi, Chief Technical Officer; Steve Ajudua; Chief Marketing Officer Law Union & Rock Insurance Plc at the event. .Wins awards Leave a comment and share Chuks Udo Okonta Law Union & Rock Insurance […]

Insurance firms to be rattled by RBS, as NAICOM is set to unveil new capital

Leave a comment and share Chuks Udo Okonta As the National Insurance Commission (NAICOM) plans to move to the next phase of implementation of the Risk-Based Supervision (RBS) which is determining the capital requirements for underwriting risks, 16 firms which shareholders’ funds are below or slightly above the statutory capital may lose some businesses they […]

Insurers agree on sharing formula for multi-million rebranding project

Members of Insurers’ Committee at the event Leave a comment and share Chuks Udo Okonta Insurance operators have agreed to raise 50 per cent of the funds for the industry’s rebranding project from companies gross premium income, and the balance 50 per cent, shared evenly amongst themselves. Addressing Journalists, today after the November Edition of […]

Insurance firms need bold internal auditors – Group

NIA Chairman, Eddie Efekoha Leave a comment and share Chuks Udo Okonta A group has called on internal auditors of insurance firms to be bold in engaging senior management to stem the unethical practices prevailing the industry. The call was parts of the takeaways of the annual seminar organised by the Risk Management and Compliance […]

Growing number of global insurance firms divesting from fossil fuels

Report shows around £15bn of assets worldwide have been shifted away from coal companies in the past two years as concern over climate risk rises By Jonathan Watts A growing number of insurance companies increasingly affected by the consequences of climate change are selling holdings in coal companies and refusing to underwrite their operations. About […]

Insurers task NAICOM to purge industry of unethical practices

Kari Leave a comment and share Chuks Udo Okonta Insurers under the Risk Management and Compliance Committee of the Nigerian Insurers Association (NIA) have tasked the National Insurance Commission (NAICOM) to purge the insurance industry of unethical practices to redeem its image. The Committee in a report presented to the association, said the image challenge […]
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