Press Release • The biggest threats to Nigeria are market volatility and corruption. • Political risks and violence is still a major challenge largely due to terrorism and kidnap for ransom. • Cyber risk concerns rank fifth in Nigeria driven by impact of indirect attacks, regulatory threats and technical and […]
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NAICOM refers African Alliance Insurance 2015 account to FRC
CFI, Mohammed Kari Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has referred the 2015 account submitted by African Alliance Insurance Plc to the Financial Reporting Council (FRC) for clarifications of some issues. Head, Corporate Affairs NAICOM, Rasaaq Salami, said the account was referred in […]
Most unquoted insurance firms are fringe players – Report
Leave a comment and share Chuks Udo Okonta Eleven out of the 18 unquoted insurance companies in the country presently occupy bottom of the industry’s business pyramid, a report has revealed. According to the report which detailed the market share of each underwriting firm, these unquoted firms have less than […]
Journalists group backs media insurance covering war zones
The International Federation of Journalists is helping set up a new insurance scheme that also seeks to cover media workers in war zones where insurance can be hard to come by or very expensive. The IFJ, which represents 600,000 members in 140 countries, announced its backing Tuesday for the scheme […]
Insurers To Increase Vehicle Rates, Target N16bn Premium
With the double digit inflation and naira devaluation affecting the prices of goods and services across the country, the owners of the 16 million vehicles plying Nigeria’s roads will have to pay N16 billion more to either purchase or renew their third party motor insurance policies in the current year, […]
Photo: Faces at 2017 New Year Party of SCIB Nigeria & Company
From left; Messrs Eddy Igbiti,Group Managing Director,AIICO Insurance Plc,Eddy Efekoha,Chairman Nigerian Insurers Association;Tope Smart,Group Managing Director, NEM Insurance Plc; Shola Tinubu, Managing Director, SCIB Nigeria and Bode Opadokun, Managing Director, FBN General Insurance at the 2017 New Year Party of SCIB Nigeria & Company in Lagos.
Trump vows ‘insurance for everybody’
President-elect Donald Trump said in a weekend interview that he is nearing completion of a plan to replace President Barack Obama’s signature health-care law with the goal of “insurance for everybody,” while also vowing to force drug companies to negotiate directly with the government on prices in Medicare and Medicaid. […]
NAICOM’ll enforce code of corporate governance on insurance CEOs
Kari Plans by the National Insurance Commission (NAICOM) to enforce the 2009 NAICOM Code of Corporate Governance on Chief Executive Officers (CEOs) of insurance companies have not changed, The Nation has learnt. The regulatory body, NAICOM, in 2009, launched Code of Corporate Governance for the insurance industry in Nigeria as […]
Market share: NAIC, NICON, Sterling Assurance, others scramble for crumbs
Leave a comment and share Chuks Udo Okonta At least 25 insurance companies need to up their games to be visible to the public as report shows that they presently occupy the bottom of the industry scrambling for crumbs. According to Nigeria Insurance Digest, produced by the Nigerian Insurers Association […]
Chinese state insurer caught up in eavesdropping scandal
Chinese insurance regulator said that a state insurer used an iPhone and a voice recorder to eavesdrop on inspectors. China Insurance Regulatory Commission Shandong bureau said Saturday that the eavesdropping devices were found at the Weifang office of Yingda Taihe Property Insurance. The regulator had been inspecting the Shandong branch. […]
