*The BimaLab Accelerator Programme will support the nation’s vision to meet the rising demand for innovative insurance products Leave a comment and share Chuks Udo Okonta FSD Africa and Nigeria’s National Insurance Commission (NAICOM) have partnered to launch BimaLab, an accelerator programme designed to boost the development and adoption of […]
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Pension fund assets soar by N1.11tn in 2021
Leave a comment and share Chuks Udo Okonta The pension fund assets got an injection of N1.11 trillion last year, moving from N12.31 trillion as at December 31, 2020 to N13.42 trillion in December 31, 2021. Data obtained from the National Pension Commission (PenCom) revealed that Retirement Savings Account (RSA) […]
CHI pays accident claims of NAIPCO member
Leave a comment and share Chuks Udo Okonta Consolidated Hallmark Insurance (CHI) Plc has paid accident claims of a member of the National Association of Insurance and Pension Correspondents(NAIPCO), who had an incident recently. The insurance firm, had, in October, renewed the Group Personal Accident Insurance cover worth N24 million […]
Insurance of buildings, public, under construction to be verified via NIID
*To launch implementation, enforcement and validation of genuine compulsory occupiers liability on April 28, 2022 Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) is in discussion with Lagos State Building Control Agency (LASBCA) with a view to using the Nigerian Insurance Industry Database (NIID) verification […]
Stanbic IBTC opens new branch in Lekki Free Trade Zone
Leave a comment and share Chuks Udo Okonta Stanbic IBTC Bank PLC, a member of Standard Bank Group, has opened a new branch in the Lekki Free Trade Zone (LFTZ), Ibeju-Lekki axis of Lagos State. The new branch will serve the banking and pension needs of the financial institution’s current […]
With N45,000 you can get a Will – Leadway Capital
Leave a comment and share Chuks Udo Okonta Gbolahan Oluyemi of the Leadway Capital & Trusts Ltd has advised Nigerians on the need to plan their estate before their demise to ensure that their assets are distributed according to their wishes. Speaking at a training organised by Leadway Assurance for […]
Insurance agents top retail business, control life operations with N141.39bn premium
Leave a comment and share Chuks Udo Okonta Insurance agents are gradually taking over underwriting space through retail practice which has placed them top in life business premium drive. According to data obtained from the Nigeria Insurance Digest 2020, published by the Nigerian Insurers Association (NIA), agents controlled life business […]
Insurance brokers, agents earn N97.07bn commission in 2020
Insurance brokers, agents and others earned N97.07 billion commission from underwriters and reinsurers in 2020, Inspenonline reports. Brokers, it was gathered, generated N281.08 billion representing 25 per cent of the N508.44 billion Gross Premium Written (GPW) of insurance companies in the year. Data obtained from the Nigeria Insurance Digest 2020, […]
Linkage Assurance grows gross premium to N11.16bn in 2021
Leave a comment and share Chuks Udo Okonta Linkage Assurance Plc in the 2021 financial year recorded a 34 per cent growth in gross premium written (GPW) despite the challenging business environment. The underwriting firm grew its GPW from N8.33 billion in 2020 to N11.16 billion in the review year […]
NAICOM pegs web aggregator registration fee at N3m
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has pegged the minimum share capital of a web aggregator at N5 million and registration fee, N3 million. This was contained in the operational guidelines released by the regulatory body to serve as a working document to […]
