African Risk Capacity aims to expand climate risk insurance to more than 150 million Africans in 30 countries The African Union’s insurance arm will increase its disaster cover to $1.5 billion by 2020 from $179 million currently following one of the continent’s worst droughts in decades, a senior executive said […]
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Future Proofing: The Value of Natural Catastrophe Schemes in Europe
LONDON, UK – MAY 2016 – Winter storms, major floods, earthquakes and hail storms are just some of the natural catastrophe events that have affected Europe in recent years. The economic impact of these events has, to varying degrees, been absorbed by insurance, governments and societies. This is because across […]
ARIAN takes insurance to schools, celebrates children’s day
Leave a comment and share Chuks Udo Okonta The Association of Registered Insurance Agents of Nigeria (ARIAN) has rolled out plans to take insurance awareness to schools across the nation. Its National President, Gbadebo Olamerun, said the initiative was conceived to enlighten the public on the relevance of children educational […]
73,403 companies subscribe to contributory pension scheme – PenCom
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said 73,403 companies have so far embraced the Contributory Pension Scheme (CPS), and that 43,918 of them have largely complied with the provisions of the Pension Reform Act (PRA). PenCom noted that about seven million employees […]
NAICOM approves 31 firms’ 2015 accounts
Leave a comment and share Chuks udo Okonta The National Insurance Commission (NAICOM) today said it has approved the 2015 financial accounts of 31 insurance and reinsurance firms. The Head, Corporate Affairs NAICOM, ‘Rasaaq ‘Salami, told Inspen that 38 firms have so far submitted that accounts, adding that two accounts, […]
Old Mutual’s asset management unit attracts possible buyers
Old Mutual PLC said it has been approached by companies interested in buying a stake in its U.S.-based fund management unit. “Old Mutual confirms that it has received approaches from third parties to acquire its stake,” in OM Asset Management, the London-based insurer said in a statement on Tuesday. There’s […]
China regulator tightens overseas insurance product sales scrutiny: Shanghai Securities News
China’s insurance regulator has asked all of its branches to heighten vigilance against sales of insurance products in the mainland by overseas insurers that break rules, the state-owned Shanghai Securities News said on Tuesday. In February, China’s foreign exchange regulator set a $5,000 single-purchase limit for customers buying overseas insurance […]
Consolidated Hallmark Insurance nets N545.81m, pays 3k dividend
.Pays N960m dividend since 2007 From left: Former Chairman, Ekezie; Ekekoha and a member of the new board Obinna Ekezie at the event. Leave a comment and share Chuks Udo Okonta Consolidated Hallmark Insurance Plc recorded a net profit of N545.81 million in 2015 as against N193.07 posted in 2014. […]
NAICOM approves 16 firms’ 2015 accounts
NAME OF COMPANY STATUS (2015 FS) 1 Wapic Life Assurance Ltd Approved 2 FBN General Insuance Approved 3 Wapic Insurance Plc Approved 4 Ensure Insurance Plc Approved 5 FBN Insurance Ltd Approved 6 Law Union & Rock Insurance Company Plc Approved 7 Mansard Ins PLc Approved 8 Custodian and Allied […]
Local indigenous investors explore Nigeria’s insurance market
As more foreign investors venture into the insurance sector, some local firms with huge potential have also shown readiness to add value to the growth of the industry About 18 insurance broking firms and one underwriting company applied to the National Insurance Commission in 2015 to obtain new licences to […]
