Leave a comment and share Chuks Udo Okonta Most troubled insurance firms have found succour at vehicle licencing offices due to inability of reputable underwriters to establish their presence at such locations. The presence of these troubled insurance firms at the licencing offices where most Nigerians get their motor policies, […]
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Leadway Assurance promotes customer-centric as driver for future insurance business
Leave a comment and share Chuks Udo Okonta Leadway Assurance Limited has said insurance companies that hope to remain relevant in the nearest future should conciously create digital channels that are customer friendly, customer-centric and always make the customer happy. Principal Investment and Strategy, Leadway Assurance Limited, Akinyemi Alebiosu, while […]
Photos: Faces at investiture of Chairman NCRIB South-South Area Committee in Port Harcourt
From left: Barineka of Naicom, Chairman, South South Area Committee Chairman of NCRIB, Joseph Olayeni; wife; Deputy Executive Secretary, NCRIB, Tope Adaramola, Chairman, Lagos Area Committee, Rotimi Olukorede at the Insurance Stakeholders Conference held in port Harcourt. Cross Section of the newly inducted Executives of South South Area Committee held […]
NAICOM gets approval for 2021 -2023 corporate strategic plan
Leave a comment and share Chuks Udo Okonta The Governing Board of National Insurance Commission (NAICOM) had on Friday, April 09, 2021 approved the commission’s 2021 – 2023 corporate strategic plan, Inspenonline reports. The approval became necessary as NAICOM’s corporate strategic plan 2016 – 2020 ended last year. The spokesperson […]
Sovereign Trust Insurance posts N687m PAT in 2020
Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc (the Company) said it recorded a Profit After Tax (PAT) of has N687 million in 2020, which it considered a commendable performance when compared with the company’s performance in 2019. A statement by its Deputy General Manager/Head, […]
PenCom gets ISO 27001:2013 certification for ISMS
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) said it has attained ISO 27001:2013 certification for Information Security Management System (ISMS). A statement by the spokesman of PenCom. Peter Aghahowa, noted that ISMS provides a systemic approach to effectively manage the risks associated with an […]
Insurers generate N418.76bn from motor policy in 10 years
Leave a comment and share Chuks Udo Okonta Insurance operators generated N418.76 billion from motor business underwriting in 10 years, Inspenonline reports. According to data obtained from the Nigerian Insurers Association (NIA) the operators generated the fund between 2010 and 2019. The NIA stated that the operators posted N42.04 billion […]
Big insurers maintain slim management expenses as trouble firms overshoot generated premium
Leave a comment and share Chuks Udo Okonta At a time insurance firms with huge gross premium income are blocking holes to maintain a slim management expenses, some troubled firms seem to be overshooting their gross premium written. Data obtained from the Nigerian Insurers Association (NIA) 2019 Digest, which chronicled […]
AM Best awards negative outlook on UK Non-Life Insurance segment
Leave a comment and share Chuks Udo Okonta AM Best is maintaining its Negative outlook on the United Kingdom non-life insurance segment, Inspenonline reports. The agency noted that economic uncertainty remains a key headwind for UK non-life insurers, adding that COVID-19-related lockdown measures coincided with the country’s preparation to leave […]
Bill: NAICOM to pay claimants from statutory deposits of erring insurers
Leave a comment and share Chuks Udo Okonta The Insurance Industry Consolidated Bill provides that where any claim remains unpaid, the insured may request the National Insurance Commission (NAICOM) to effect the payment from the statutory deposit of the insurer and the Commission shall have power to effect such payment. […]
