Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has said the existing 57 insurance and two reinsurance firms must have N323 billion recapitalisation fund, which is 60 and 50 per cent to be raised this year in the escrow account opened for the exercise comes […]
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PFOs take succour in bank placement as pension assets soar to N10.58tn
Leave a comment and share Chuks Udo Okonta Pension Fund Operators (PFOs) have taken succour in bank placement investment window due to the sharp drop in investment returns from treasury bills and federal government bonds, even as the pension assets soared to N10.58 trillion in April 2020. Data obtained from […]
Sanwo-Olu appoints Obilana as DG Lagos State Pension Commission
Obilana Leave a comment and share Chuks Udo Okonta Lagos state Governor Babajide Sanwo-Olu has approved the appointment of Babalola Obilana as the Director-General of Lagos State Pension Commission (LASPEC) in recognition of his outstanding performance and accomplishments in the financial sector. Obilana who takes over from Mrs. Folashade Onanuga […]
US tech company develops world’s first parametric pandemic insurance product
By Ahmad Zaki Machine Cover, a technology company that creates parametric products for the insurance industry, has announced it is developing what is believed to be the world’s first pandemic insurance product based on parametric triggers. The Boston-based company said the COVID-19 crisis has revealed a critical gap in insurance […]
NAICOM segments recapitalisaton, fixes September 30, 2021 as deadline
Commissioner for Insurance, Sunday Thomas Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has segmented the ongoing recapitalisation process and told insurers and reinsurers to meet 50 and 60 per cent respectively of their minimum paid-up share capital by December 31, 2020 and complete the […]
COVID-19 pandemic forces pension contributions down by 30%
Leave a comment and share Chuks Udo Okonta The lockdown which was herald by the COVID-19 pandemic has forced pension contributions and remittance down by at least 30 per cent, Inspenonline can report. The Managing Director of one of the nation’s Pension Fund Administrators (PFAs) told this medium that the […]
Micro pension contributions near N30m – PenCom
Leave a comment and share Chuks Udo Okonta Contributions from informal sector workers into the Micro Pension Plan (MPP) is now about N30 million, Inspenonline can report. The Head, Research & Strategy Management Department, National Pension Commission (PenCom) Dr. Farouk Aminu, said this in a telephone conversation with Inspenonline. Micro […]
Sanlam takes 100℅ ownership of FBNInsurance
Val Ojumah, Managing Director, FBNInsurance Limited Leave a comment and share Chuks Udo Okonta South Africa’s largest insurer Sanlam SLMJ.J said on Tuesday it bought out the remaining 65 per cent stake in Nigerian insurance business FBNInsurance Limited it did not already own from First Bank FBNH.LG, deepening its presence […]
COVID-19 could revolutionise London market transactions
By Ranamita Chakraborty The COVID-19 pandemic has thrown a spotlight on the London insurance market’s modernisation efforts and could possibly accelerate some long-awaited changes to the way business is transacted in the market – revealed a new report from credit ratings agency AM Best. According to the agency, the impact […]
China:Demand for insurance products grows among female customers
By Vincent Liu Liang COVID-19 has increased awareness and demand for insurance products in China especially among certain population segments – according to a new report published by Tencent’s insurance platform WeSure together with Fudan University Department of Risk Management and Insurance and China Insurance and Social Security Research Centre. […]
