Lariba Lydia Lariba, Commissioner of the National Insurance Commission (NIC), has stated that even though the industry’s gross premium income has seen significant growth over the years, profitability has not increased commensurately. At a cocktail organised by SIC Life for its staff in Accra, the Commissioner said competition in the […]
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Consequences of non-remittance of pension deductions by employers
By Chris Agabi facebook twitter goolge plus linkdin like (0 Likes) Consequences of non-remittance of pension deductions by employers Some pensioners waiting to be screened, recently There are growing number of cases where employers deduct pension contributions of employees but fail to remit them to the Pension Funds Administrations (PFA). […]
FUG Pensions supports Down Syndrome Foundation
Usman Suleiman, Managing Director, Future Unity Glanvills Pensions Limited with the children of Down Syndrome Foundation during the 2016 Xmas Carol hosted by the company for the special children. Leave a comment and share Chuks Udo Okonta The Future Unity Glanvills (FUG) Pensions Limited, as part of its Corporate Social […]
FBNInsurance Group donates to Down Syndrome Foundation
From left: Shola Osho, Head, Alternative Distribution, FBNGI; Festus Izevbizua, Chief Financial Officer, FBNI; Bode Opadokun, Managing Director, FBNGI; Muyiwa Majekodunmi, Admin Manager, Down Syndrome Foundation; Supo Sogelola, Head, Corporate Distribution, FBNI; Elizabeth Agugoh, Head, Marketing and Corporate Communications, FBNI; and some children of the Down Syndrome Foundation during the […]
Insurance industry performed better in spite of recession – analysis
Kari In spite of the economic recession, the Nigerian insurance industry performed better in 2016 due to stricter enforcement of the Code of Corporate Governance. The improved performance was particularly due to enforcement of rules against unethical practices, under capitalisation and rate cutting, among others. Although the industry felt the […]
Cornerstone Insurance, 20 others pay N52.8m fine
Leave a comment and share Chuks Udo Okonta and agency report The Nigerian Stock Exchange (NSE) has imposed a fine of N52.8 million on Cornerstone Insurance Plc, Staco Insurance Plc and 19 other companies over default in filings financial statements. The NSE said the sanctions were applied in accordance with […]
Insurers pay N74.24m claims on death Police officers
Leave a comment and share Chuks Udo Okonta Life underwriters paid about N74.24 million claims to the Nigerian Police Force (NPF) for deceased officers in 2014, even as the government has refused to pay the over N5.4 billion premium for outgoing 2016. According to a report obtained from the Nigerian […]
South Korea pension fund head arrested in scandal probe
The investigation is examining any role Mr Moon had in backing a Samsung merger South Korea’s pension fund head has been arrested in a probe into alleged corruption involving electronic firm Samsung and the country’s president. Special prosecutors said they raided National Pension Service (NPS) chairman Moon Hyung-pyo’s home on […]
FG fails to renew insurance of civil servants, others as year ends
Expose assets, workforce to uncertainties, hazards By Clement Nwoji With barely three working days left to the end of the 2016 business year, confusion continues to trail the Federal Government’s inability to renew the Group Life insurance coverage for its federal civil servants and insurance of its assets nationwide. This […]
Financial Account: NAICOM, NSE Fine 10 Insurers N50m For Non-compliance
By ZAKA KHALIQ The National Insurance Commission (NAICOM) said 49 insurance companies has so far submitted their 2015 accounts. Just as investigation shows that, about 10 insurance companies are yet to submit theirs, three days to the end of the year. The erring firms are already paying monetary fines to […]
