Six million home and motor insurance holders are overpaying by a total of £1.2bn per year because firms are not giving loyal customers fair premiums, a watchdog has warned. The Financial Conduct Authority (FCA) found evidence of insurers overcharging long-standing customers through tactics such as selling policies to new consumers […]
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Insurance Sector Life Annuity Fund Portfolio hits N323bn – NAICOM
The Insurance sector life annuity fund portfolio stood at about N323 billion at the end of the second quarter of 2019. The information was made available by Mr Rasaq Salami, Head, Commissioner for Insurance Directorate of the National Insurance Commission (NAICOM) in a statement on Saturday in Abuja. Salami said […]
Insurers lose about N160bn yearly to fake motor insurance racketeers
Leave a comment and share Chuks Udo Okonta At a time insurance companies are scrabbling for funds to remain afloat, about N160 billion which ought to accrue to them yearly from motor insurance business, is fraudulently obtained by individuals who engage in production and sales of fake motor policies. According […]
Sanwo-Olu underscores essence of planning, resource allocation
Sanwo-Olu Leave a comment and share Chuks Udo Okonta Governor of Lagos State, Babajide Sanwo-Olu, has said the importance of efficient planning and allocation of resources in any organised society cannot be underestimated and should be taken with all seriousness. He said that the creation of Lagos State Residents’ Registration […]
PILA sustains drive on raising young insurance professionals
Leave a comment and share Chuks Udo Okonta The Professional Insurance Ladies Association (PILA) is set to hold a career talk aimed at encouraging and nurturing students towards a career in insurance. According to the President of the association, Mrs. Ose Oluyanwo, the programme with the theme: Together We Can, […]
Possible Risks Affecting Financial Inclusion in Nigerian Micro-Insurance Market
Apere 1st October 2019 By Dr Pius Apere (PhD/FCII) (Actuarial Scientist and Chartered Insurer) Tel: +234(0)8090747971 Introduction The financial sector (including the insurance industry) is one of the key drivers of any economy across the world, as the sector provides a solid framework in accelerating a sustainable economic growth thereby […]
Igbiti steps in as Managing Director of Niger Insurance
Igbiti Leave a comment and share Chuks Udo Okonta Edwin Igbiti has resumed as the new Managing Director of Niger Insurance Plc, Inspenonline can report. A member of staff of the company told this medium that he resumed mid September 2019 and that his resumption, was greeted with great joy […]
The Rule of Law’s role in attracting foreign investment
The strength of the Rule of Law in a country ranks among the top three considerations when multinationals make decisions about where to locate foreign direct investment – above considerations such as the cost of doing business and access to national and regional markets. In its simplest form, the Rule […]
Lagos State pays N1.55bn to 287 retirees
From left: Director-General of Lagos State Pension Commission Mrs. Folashade Onanuga presenting a Honda certificate to a retiree at the event. Leave a comment and share Chuks Udo Okonta The government of Lagos State under the leadership of Governor Babajide Sanwo-Olu has disbursed N1,559,662,536.4 into Retirement Savings Account (RSA) of […]
NIA launches Wetin You Carry campaign
From left: Controller/Head, Human Resource, Administration and Corporate Communications, Nigerian Insurers Association, Davis Iyasere, Director-General, Mrs. Yetunde Ilori and Controller, Information Technology, Research & Statistics, Mrs Bola Omole at the event. * Deploys kitted Insurance Squad Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) has […]
