China’s insurance regulator has revised rules to make it easier for insurance companies to invest in infrastructure projects in a bid to support a slow economy and create investment opportunities in an environment of low returns. Insurers will no longer need to obtain regulatory approval to invest in infrastructure, and […]
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1,300 athletes register for Gov’t insurance plan
Minister of Sports Olivia Grange Nearly 1,300 of the country’s sportsmen and women have already signed up for the Jamaican Athletes Insurance Plan (JAIP), which is being implemented at just under $60 million per annum. The athletes are drawn from 28 of the over 40 sports associations whose members comprise […]
Earthquake insurance policy starts
High school students in Chongzhou, Sichuan province, participate in an earthquake drill. [Provided to chinadaily.com.cn] By Li Xiang(China Daily) Product seen as step in adopting market-driven approach to compensate for disaster losses China on Friday launched the sale of the country’s first earthquake insurance policy, seen by the industry as […]
UK insurer esure says hasn’t received takeover approach
British insurer esure Group Plc has denied a report that it been approached with a potential takeover offer. Sky News reported earlier that buyout groups “thought to include” KKR & Co were considering bids for the car and home insurer. (bit.ly/297hkSz) KKR declined to comment when contacted by Reuters, while […]
Insurers post over N1.22trn gross premium income in 5 years
Chairman NIA, Eddie Efekoha Leave a comment and share Chuks Udo Okonta Pay N348.54bn claims Insurance operators posted over N1.22 trillion gross premium income between 2010 and 2014 and paid N348.35 billion on claims settlement. The statistics was revealed in the Nigerian Insurers Association (NIA) annual report and accounts. According […]
PenCom wants evidences of pension compliance in coy’s financial statements
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) is pushing for the publications of evidences of compliance with the Pension Reform Act (PRA) 2014 in companies’ financial statements, Inspen can report. The Commission said it is working with the Financial Reporting Council (formerly Nigeria Accounting […]
Brexit vote prompts fears over UK insurers’ capital strength
Market falls triggered by Britain’s vote to leave the European Union will hit British insurers’ capital, raising concerns over their ability to pay dividends or hand cash back to investors. New European capital Solvency II rules introduced in January require insurers to account for investment risk, and solvency models to […]
Swaziland-born entrepreneur introduces crowdfunded insurance
By Kate Douglas on ‘1 July 2016’ “I didn’t know insurance when I got into this. I am not an actuary and I have never worked in insurance. But I took it upon myself to study it and understand it so that I know exactly what I am talking about,” […]
Insurers association launches insurance clubs in schools
The Ghana Insurers Association (GIA), has launched the first insurance literacy club at the Kanda Cluster of Schools, in Accra, to engender pupils’ interest in insurance security. The new initiative was introduced by the Insurers Association ,in collaboration with the Sub-Metro Directorate of the Ghana Education Service (GES), to inculcate […]
PenCom forms alliances to enhance pension compliance
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) in recent times has been exploring measures to deepen the pension industry, especially by collaborating with other organisations to ensure pension laws are obeyed and enforced. Inspen gathered that the commission had collaborated with relevant agencies and […]
