With workers being told they’ll be poorer in retirement than they had originally planned and rife uncertainty in global markets thanks to The Donald and Brexit, can you blame thousands of people paying into company pensions asking: Should I stay, or should I go now? SHARE Specifically, they are wondering […]
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World’s Best-Funded Pension Market Has a $650 Billion Warning
By Frances Schwartzkopff Danish regulator warns of new fundamental risk after reforms FSA in Copenhagen has called for talks to address the issue No country on the planet is better prepared to pay for its aging population than Denmark. But a nation whose pension industry has been ahead of the […]
China’s online insurance sales surge in 2015
BEIJING – With more Chinese managing their wealth online, insurance policies sold via the Internet more than doubled in China last year. The combined premiums of insurance policies sold online totaled 223.4 billion yuan ($32.5 billion) in 2015, jumping 160 percent from 2014, said an industry report released Sunday by […]
NAICOM forecloses bailout for ailing firms
By Bankole Orimisan Following the financial crisis weighing down the fortunes of some insurance companies in Nigeria, the National Insurance Commission (NAICOM), the industry regulator has foreclosed the possibility of assisting them financially through a bailout to save it from collapse. The regulator said the insurance law did not make […]
Insurance Sector Loses N240bn To 8m Uninsured Automobiles
ZAKA KHALIQ The insurance industry has lost a whopping N240 billion premium income from the non-insurance of an estimated eight million tricycles and motorcycles which ply Nigerian roads, over a period of 6 years, from year 2010 to 2016, LEADERSHIP investigation has revealed. This figure, according to findings, is only […]
Committee tackle NAICOM over cumbersome reporting procedure
Leave a comment and share Chuks Udo Okonta The Risk Management and Compliance Committee of the Nigerian Insurers Association (NIA) says the cumbersome report formats issued by the National Insurance Commission (NAICOM) is responsible for delays in submission of companies reports. The committee said this in a report presented to […]
Police retirees to get 33% pension
By Gregory Mmaduakolam The Pension Transitional Arrangement Directorate (PTAD) has assured the House Committee on Pension that it would pay additional 33 per cent arrears to police retirees to bring it at par with other pension departments. The Executive Secretary of PTAD, Sharon Ikeazor, said this when the committee members […]
Foreign entrants drive sales of personal line insurance – NAICOM
Leave a comment and share Chuks Udo Okonta The advent of foreign players in the insurance industry has brought a shift from wholesale insurance to personal-line products, Inspen can report. The Commissioner of Insurance, Mohammed Kari, said this at a forum organised by the Nigerian Council of Registered Insurance Brokers […]
Obesity, a ground for claim dismissal at some insurers
‘Swindlers list’ aimed at cutting insurance fraud
By Charlie Weston Eoghan Murphy Photo: Tom Burke The Government is looking at setting up a new database of fraudulent personal injury claims, a sort of swindlers’ list. This would record all those who have made claims which have raised suspicions. It would be shared between the insurance industry and […]
