Irukwu Respected insurance industry icon, Prof. Joe Irukwu, has thrown his weight behind the forthcoming Insurance Lawyers’ seminar being organised this month in Abeokuta by Adegboyega Adepegba and Co. In a statement made available to New Telegraph, the veteran insurance practitioner and Senior Advocate of Nigeria (SAN), recalled that Insurance […]
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Crave for benefits annuity soars
Leave a comment and share Chuks Udo Okonta The demand for benefits annuity has in recent times soars, a report by the National Pension Commission (PenCom) has revealed. According to the pension regulator, 5,243 retirees subscribed to benefits annuity in the third quarter of 2017 as against 2,181 in the […]
Insurers pay over N312.85m claims on deceased police officers
Leave a comment and share Chuks Udo Okonta Life insurance operators paid over N312.85 million group life claims to the Nigerian Police on deceased officers in 2016, Inspenonline can report. This was disclosed in the 2016 Nigeria Insurance Digest, published by the Nigerian Insurers Association (NIA). According to the NIA, […]
Cornerstone Insurance Responds To Actor’s N340m Brand Infringement Suit
Cornerstone Insurance Plc has responded to a N340 million suit instituted by an actor, Mr Ahmed Afolabi Roleola against the company and two others, Cornerstone Life Assurance and Advertising Practitioners Council of Nigeria. Roleola had sued the defendants asking for N340 million for alleged unlawful use of his photographs and […]
NCRIB condemns abduction of 110 pupils in Dapchi
From left: Deputy President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs Bola Onigbogi; President, Mr. Shola Tinubu; Managing Director, NEM Insurance Plc, Mr. Tope Smart and Commissioner for Insurance, Alhaji Mohammed Kari at the February Edition of NCRIB Members’ Evening held in Lagos. Leave a comment and share Chuks […]
Guinea Insurance appoints Oshadiya Managing Director
Oshadiya Leave a comment and share Chuks udo Okonta Guinea Insurance has appointment Babatunde Oshadiya as its Managing Director/Chief Executive Officer. A statement by the Team Lead, Corporate Communications of the firm, Ufot Hanson, said his appointment took effect from 1st March, 2018, having been ratified on February 15, 2018 […]
6 underwriters’ management expenses exceed gross premium generated
. Insurers incur N264.15bn mgt expenses in 5 years Leave a comment and share Chuks Udo okonta Some insurance companies are really fighting hard to remain afloat amid the harsh economic maladies, which had pushed them into incurring huge management expenses as against the low premium they generate. According to […]
Policyholders should demand genuine claims from insurers – Leadway boss
Leave a comment and share Chuks Udo Okonta Policyholders who have genuine claims should demand settlement from their insurers, the Executive Director, Leadway Assurance Company Limited, Ms. Adetola Adegbayi, has canvassed. Adegbayi, who stated this during a media training organised by Leadway Assurance for insurance correspondents, in Lagos State, noted […]
Taxation Of Commissions Payable To Insurance Brokers/Agents – An Obligation Or A Nightmare?
Article by Deloitte Nigeria The insurance industry is one of the specialised businesses having a peculiar business model and corresponding distinct tax considerations in Nigeria. The core business of insurers/insurance companies, simply put, is to provide cover to another party (insured), against possible financial loss within a specified period. In […]
Lagos State pays N841m accrued pension rights to 141 retirees
Ambode Leave a comment and share Chuks Udo Okonta Lagos State government, under the leadership of Governor Akinwunmi Ambode, has released the sum of N838 million to pay accrued pension rights of 141 retirees under the Contributory Pension Scheme for the month of February, 2018. A statement by Mrs Ajoke […]
