Indeed, the successful implementation of compulsory classes of insurance across the nation will ensure adequate protection of our strategic National Assets. We will be working with the relevant security agencies to guarantee effective and efficient monitoring of compliance. Acting Commissioner for Insurance, Sunday Thomas
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S.African court rules Old Mutual does not have to reinstate ex-CEO
CONTRIBUTOR : Emma Rumney Reuters JOHANNESBURG, Jan 14 (Reuters) – A South African court ruled on Tuesday that Old Mutual OMUJ.J does not have to reinstate its sacked chief executive Peter Moyo, upholding the insurance and banking group’s appeal against him with costs. Old Mutual has been locked in a […]
Exploring the uncharted frontier of farm micro-insurance
In insurance, the adverse selection problem is defined as greater tendency of those in dangerous line-of-work to purchase products such as life-insurance. Because of the information asymmetry between buyer and seller (buyers usually have more information about personal health), insurance companies hedge risk by limiting coverage or raising premiums. That, […]
South African killer gangs rent corpses to trick insurers
A mortuary in Johannesburg. Scamming syndicates often recruit an official WALDO SWIEGERS / GETTY IMAGES Corpses are being rented out from South African mortuaries to gangs who are claiming multiple payouts on life and funeral policies in a ruthless scam that costs insurers millions each year. One syndicate is alleged […]
Guideline empowering insurance agents to sell annuity coming soon – NAICOM
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) and National Pension Commission (PenCom) will soon unveil a guideline which will empower insurance agents to sell benefit annuity products, Inspenonline can report. This was disclosed by a member of staff of NAICOM, who said the insurance […]
Operators applaud new insurance sector tax regime
Mrs. Ilori Leave a comment and share Chuks Udo Okonta The signing of the 2020 Finance Bill into law by President Muhammadu Buhari, has been welcomed by insurance operators, who said the Act, has brought great tax relief to insurance business. The Special Adviser to the President, Femi Adesina, in […]
NCRIB applauds Makinde on Gbagi market fire, offers insurance as recipe for risks
Leave a comment and share Chuks Udo okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) has bemoaned the fire disaster that ravaged Akesan Market, (OjaAkesan) in Oyo town, where properties worth millions of naira were destroyed. The Council commended the promise made by the State Governor, Engineer Seyi Makinde […]
AM Best revises outlooks to stable for AXA Mansard Insurance Plc
Leave a comment and share Chuks Udo Okonta AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of AXA Mansard Insurance Plc (AXA Mansard) (Nigeria). The ratings reflect AXA Mansard’s balance sheet […]
AM Best affirms credit rating of Custodian and Allied Insurance Limited
Leave a comment and share Chuks Udo Okonta AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Custodian and Allied Insurance Limited (CAI) (Nigeria). The outlook of these Credit Ratings (ratings) is stable. CAI is the wholly owned non-life […]
Photos: Faces at burial of Efekoha’s mother today in Warri Delta Sate
From left: Chairman, Capital Express Assurance, Tony Aleto; Managing Director, Sterling Assurance, Fatai Lawal; Managing Director, FBN General, Bode Opadokun; Managing Director, Capital Express Insurance, Mŕs. Bola Odukale; Former General Manager, Insurance Department, Nigeria National Petroleum Corporation, Ayo Bammeke; President, Chartered Insurance Institute of Nigeria (CIIN), Eddie Efekoha; Chairman, Nigeria […]
