By Hussaina Yakubu/Kaduna Kaduna State Government has approved modalities for settling the N15.57 billion pensions debts and death benefits of public servants in the state Kaduna State Head of Service, Mrs Bariatu Mohammed, made this known on Monday in Kaduna after the state executive council meeting She said the approval […]
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Insurance vital, but no magic bullet to fight drought in Africa
By Alex Whiting More developing countries urgently need insurance to cushion their farmers against weather extremes that can worsen poverty, but it is no magic bullet to ward off the escalating impacts of climate change, experts say. The burning question of how to stop drought becoming a major crisis – […]
Premium rates for most classes are still going downhill — COO, Africa Re
Ken Aghoghovbia REINSURANCE around the globe are considering upward review of rates, is Nigeria left out, particularly, Africa Re? Globally the soft market has been on for over a decade largely driven by the lack of significantly impactful catastrophes and increased capital flowing into the market. This trend has not […]
NAICOM boosts insurance education with donations, grants
By Favour Nnabugwu National Insurance Commission (NAICOM) has donated N10million to the Federal Polytechnic Offa, Kwara State to boost the institution’s ICT Centre and a grant of N5.4m for the purchase of insurance textbooks for insurance education. The Commission’s donation is to propagate insurance education and help the sector deepen […]
Recapitalisation: 12 Insurance Firms In Merger, Acquisition Talks
By ZAKA KHALIQ Ahead of the capital verification exercise expected to commence in the next few months in readiness for the Risk Based Supervision (RBS) that will lead the insurance sector to recapitalisation this year, about 12 out of the 58 insurance companies in the country have already commenced recapitalisation […]
National Pension System: Allowing systematic withdrawal plan is a good move
The Pension Fund Regulatory and Development Authority’s plan to offer systematic withdrawal plan (SWP)—where an individual can withdraw a fixed sum from his pension fund instead of buying annuities—to National Pension System (NPS) subscribers is a welcome move. An NPS subscriber has to mandatorily annuitise 40% of the maturity corpus, […]
Photo: Faces at thank-you visit of Rotary Club of Omole Golden to the headquarters of FBNInsurance Limited
From left: Festus Izevbizua, Chief Financial Officer, FBNInsurance; Val Ojumah, Managing Director, FBNInsurance; Rotr. Titi Sunmonu, All Star President, Rotary Club of Omole Golden; the incoming president, Rotary Club of Omole Golden, Rotr. Abiodun Oshinibosi and Johan Shalkwyk, Chief Operating Officer, FBNInsurance during the thank-you visit of Rotary Club of […]
Concerns over Non Payment of N5.4bn Premium for Group Life Insurance
By Ebere Nwoji After seven months of consistent but futile efforts to persuade the federal government to pay the N5.4 billion premium for insurance of its employees, insurance sector operators now groan under heavy load of claims but trickle inflow of premium despite the ‘no premium no cover’ regime. The […]
NCRIB seeks inclusion of sector in PEBEC
President, Nigerian Council of Registered Insurance Brokers, Mr. Emmanuel Kayode Okunoren presenting an award to the Managing Director, Linkage Assurance Plc, Dr. Pius Apere at the February edition of NCRIB Members’ Evening, with them are Executive Secretary, NCRIB, Mr. Fatai Adegbenro (left), Deputy President, Mr. Shola Tinubu, Vice President, Dr […]
About N763bn contributed as pension funds in 11 months
Leave a comment and share Chuks Udo Okonta Pension contributions between January and November 2016 stood at N763 billion, Inspen can report. Information obtained from the National Pension Commission (PenCom) revealed that the total pension assets as at January 2016 was N5.254 trillion but rose to N6.017 trillion in November. […]
