China has loosened the family planning policy and decided to allow all couples to have two children. The aim, among others, is to increase the country’s fertility rate in order to ease the pressure of the fast aging population. But the question is: Will the goal be fulfilled? To start […]
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Over 95% of oil and gas businesses insured overseas: NIC boss
By: Emmanuel Bruce Over 95 per cent of oil and gas businesses in the country are insured overseas due to the limited capacity of the local insurance industry to underwrite all policies in the sector. This has resulted in huge capital flight with the attendant consequences on the economy, the […]
Pension Insurance Corp completes $3.7 bln buy-out of Philips UK pension fund
Pension Insurance Corp (PIC) has completed a 2.4 billion pound ($3.69 billion) buy-out of Philips UK pension fund, the firm said on Thursday. PIC specialises in bulk annuities – taking on the risk of company defined benefit, or final salary, pension schemes. The deal covers the pension benefits of around […]
Stakeholders seek enrollment of casual employees in CPS
Leave a comment Chuks Udo Okonta Stakeholders have called on employers with casual employees in their workforce to enroll them in the contributory Pension Scheme (CPS). The call was made at a forum organized by the Lagos State Pension Board (LASPEB) in Lagos. Participants at the event who were drawn […]
Insurers settle $16 billion Canterbury claims
The Insurance Council of New Zealand announced today that private insurers have settled $15.9 billion in Canterbury earthquake claims in its latest release of quarterly progress data. Insurance Council (ICNZ) Chief Executive Tim Grafton says insurers have now settled 70% of over cap residential Canterbury earthquake claims in what reinsurers […]
Investment in IT key to Nigeria’s growth, says NAICOM chief
Nigeria must invest heavily in technological development and management, which will in turn aid growth and suitable competitiveness in various sectors of the economy, Commissioner for Insurance, National Insurance Commission (NAICOM), Mohammed Kari has said. He made this call at the maiden conference on Management, Technology and Development of the […]
U.K. FCA Chief Appeals to Insurers as She Vies to Keep Top Post
U.K. Financial Conduct Authority acting chief Tracey McDermott appealed to insurers to get behind the regulator, setting out her plans for the industry as she fights to keep the top job. “While our roles are different, and while a degree of challenge and creative tension between the regulator and the […]
Prudential policy leaves UK insurance division in question
The image of the “man from the Pru” — the insurance agent selling life policies door-to-door — is embedded in Britain’s national consciousness. But insurance in the UK has become increasingly less important to Prudential, as the country’s largest insurer by market value has aggressively pursued faster-growing markets, notably in […]
Faces at the Sovereign Trust Insurance Plc at the 2016 Budget/Strategy Session
Insurers get knock for infraction on annuity
Leave a comment Chuks Udo Okonta Life Insurance operators who engage in unwholesome practices in order to sell their annuity products have been advised to refrain from such vices to forestall confusing retirees. The Director-General Lagos State Pension Board (LASPEB) Mrs Folashade Onanuga, said this at a forum in Lagos, […]
