Oliver Ralph in London and Andrew England in Johannesburg Old Mutual is to break itself up into four parts in a dramatic effort by new chief executive Bruce Hemphill to revive flagging investor enthusiasm. The £9.5bn financial services group said on Friday that by the end of 2018 it would […]
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Pension operators eye products in transportation sector
Longe Leave a comment and share Chuks Udo Okonta Pension operators are anxiously awaiting new investment windows to open in the transportation sector, Inspen can report. The President, Pension Fund Operators Association of Nigeria (PenOp) Eguarekhide Longe, who disclosed this said, “I have never seen anybody who come up with […]
Sanlam full-year profit little changed as life insurance slumps Dividend up 9% to 245 cents per share.
Sanlam, the largest South Africa-based insurer, said full-year profit rose 2.3% after the value of new life business slumped and growth in its home market slowed. Net income for the 12 months through December climbed to R8.94 billion ($587 million) from R8.74 billion a year earlier, the Cape Town-based company […]
Old Mutual plans break-up
Oliver Ralph Shares in Old Mutual rose more than 10 per cent on Monday morning driven by expectations of a break-up that could see the FTSE 100 insurance group split into four parts. Chief executive Bruce Hemphill, who has only run the group since last November, is likely to confirm […]
Potential buyers ‘are showing an interest in Barclays Africa’
BARCLAYS Africa said there is no lack of interest from buyers seeking a stake in SA’s third-largest lender as Barclays prepares to reduce its 62.3% holding to less than 20%. The London-based bank’s interest would not be “sold in the short term and a number of players will have a […]
FBN Insurance deploys 3i Infotech’s End to End Premia Insurance Suite
FBNInsurance’s top executives 3i Infotech, a global technology solutions and services enabler today announced the successful implementation of their marquee product Premia™ Insurance Suite at FBN Insurance, Nigeria(West Africa). FBN Insurance (jointly owned by FBN Holdings Plc and Sanlam Emerging Markets, South Africa) is one of the leading Life and […]
Consolidation is inevitable under risk-based supervision – Kari
Alhaji Mohammed Kari was, last year, announced by President Muhammadu Buhari, as the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM). From then till now, he has embarked on series of initiatives aimed at deepening and repositioning the insurance sector for the better. In this […]
My agenda for insurance industry – Kari
Leave a comment and share Chuks Udo Okonta The Commissioner for Insurance, Mohammed Kari, has unveiled his agenda for the repositioning of the nation’s insurance industry, with emphasis on continuing with all initiatives started by his predecessor. He told Inspen that his main objective is to continue all the […]
Benjamin Agili now managing Director of Royal Exchange General Insurance
Agili Leave a comment and share Chuks Udo Okonta The Board of Directors of Royal Exchange Plc, Nigeria’s leading Insurance and Asset Management Group has announced the appointment of Benjamin Agili as the Managing Director/Chief Executive Officer (MD/CEO) of Royal Exchange General Insurance Company (REGIC), following the confirmation of his […]
Fitch: FCA Review Will Hit UK Insurers’ Closed-Fund Profits
(The following statement was released by the rating agency) LONDON, March 03 (Fitch) The review of closed-fund life insurance policies by the UK Financial Conduct Authority will make these policies less profitable and could lead to more insurers attempting to sell their closed funds to specialist managers, Fitch Ratings says. […]
