The Nigerian police say it needs over 20 billion Naira to cover the insurance claims of over 3,000 police officers who died in active service. The force insurance officer, Mr Isyaiku Mohammed, gave the figure when he appeared before the ad-hoc Committee of the House of Representatives investigating alleged illegalities […]
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NAICOM disowns BPE insurance transactions
By Clement Nwoji The National Insurance Commission (NAICOM), the industry regulator, dissociates self from any complicity with the Bureau of Public Enterprises (BPE), which is currently facing investigations over shady insurance transactions by it. BPE is responsible for implementing the Federal Government’s policy on privatisation and commercialisation. But the agency […]
Insurance industry rate template underway
Efekoha …As market-conduct guideline in the pipeline Leave a comment and share Chuks Udo Okonta Against the backdrop of inappropriate pricing coupled with desperation for big risks, a rate template for insurance companies and brokers to work with is underway, according to the Nigerian Insurers Association (NIA), NIA chairman, Eddie […]
NIA kicks as banks compel customers to insure with captive companies
Efekoha Leave a comment and share Chuks Udo Okonta Underwriters in the country under the umbrella body of the Nigerian Insurers Association (NIA) have expressed displeasure over the rising trend of banks compelling customers to insure with their captive firms without any option to chose from. A captive company is […]
PenCom scolds PFAs over redeployment of HODs
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has charged Pension Fund Administrators (PFAs) to obtain approval before redeploying Head of Departments from one department to another. The Commission in a circular entitled: Recruitment of Top Management/Redeployment of Head of Department, issued on November 2, […]
Ten leading insurance companies in Nigeria
NIA Chairman, Eddie Efekoha Leave a comment and share Chuks Udo Okonta At a time many insurance companies are struggling to remain afloat, ten firms have continued to distinguished themselves through hard work and proper planning, which had positioned them as market leaders in the industry. The ten leading firms […]
ARIAN doubts success of N300m insurance rebranding project
Gbadebo .Decries exclusion from project Leave a comment and share Chuks Udo Okonta The Association of Registered Insurance Agents of Nigeria (ARIAN) has called on proponents of the N300 million insurance rebranding project to first tackle key issues that led to public disdain on insurance business, before embarking on a […]
NAICOM seeks FG intervention over labour unrest
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has sought the intervention of the Minister of Labour and Employment, Chris Ngige in the labour unrest in the commission. In a letter entitled: Industrial Action by the NAICOM branch of the Amalgamated Union of Public Corporations, […]
PTAD collaborating with EFCC to fight pension fraud — Ikeazor
Ikeazor The Pension Transitional Arrangement Directorate is collaborating with the Economic and Financial Crimes Commission and other government agencies to fight fraud in pension administration. The Executive Secretary of PTAD, Sheron Ikeazor, made the statement in Abuja on Wednesday at the News Agency of Nigeria Forum. Ikeazor said: “I call […]
Regulators meeting on annuity fails to hold
Leave a comment and share Chuks Udo Okonta The planned meeting between the National Insurance Commission (NAICOM) and National Pension Commission (PenCom) earlier scheduled for today, has been postponed, Inspen has learnt. It was gathered that the insurance regulators, NAICOM, requested for postponement of the meeting, which new date is […]
