Despite being the second fastest growing insurance market in the world, the majority of African countries report dangerously low insurance penetration, a gap that could be closed with the use of traditional insurance and alternative risk transfer solutions. Speaking at a risk management event in London recently, Allianz Global Corporate […]
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Lagos state pays N904m to 243 retirees
Leave a comment and share Chuks Udo Okonta The Lagos State Government in the month of February, 2016 paid 243 retirees from the Mainstream Civil Service, Local Governments, State Universal Basic Education, Teachers Establishment and Pension Office and other Parastatals Pension entitlements worth N904 million. A statement by Mrs Ajoke […]
Government’s establishments can’t shelve insurance – NAICOM
Kari Leave a comment and share Chuks Udo Okonta In spite the current economic financial quagmire, the National Insurance Commission (NAICOM) as assured that government’s establishments would not shelved insurance as they are compelled by the law to protect public assets. The Commissioner for Insurance, Mohammed Kari, who disclosed this, […]
NAICOM probes forensic report on Goldlink Insurance
Kari Leave a comment and share Chuks Udo Okonta The dust raised by the activities of past management of Goldlink Insurance Plc has continued to suffuse as the National Insurance Commission (NAICOM) has vowed to look into the findings made by the auditing firm engaged to examine the firm’s operations. […]
Why Trump’s Plan for Affordable Insurance Won’t Work
By Dan Karr Founder and CEO, ValChoice With the price increases of insurance far outpacing increases in the cost of living, the cost of insurance that consumers are required to buy (auto, home and health) is rapidly increasing as a percentage of the monthly budget. Unfortunately, consumers have no good […]
NAICOM faults insurers, brokers over outstanding premiums
By: ISAAC ASABOR The National Insurance Commission, NAICOM, has faulted insurance companies and brokers for lack of seriousness in the collection of premiums, and in some extreme cases, outright write off of outstanding premiums. In a circular addressed to all the Managing Directors of insurance brokerage companies and signed by […]
Shareholders applaud dissolution of Goldlink Insurance interim board
Shareholders at an event By ZAKA KHALIQ(NEWSWATCH TIMES NEWSPAPER) Shareholders of Insurance companies across the country have applauded the decision of the National Insurance Commission(NAICOM) to dissolve the interim board of Goldlink Insurance Plc. NAICOM, had over the weekend, announced the dissolution of the Interim board of Goldlink Insurance Plc. […]
Brokers got licences for single transaction – NAICOM
Leave a comment and share Chuks Udo Okonta Some insurance brokers secured operational licences just to execute one insurance business, Inpen has learnt. The Commissioner for Insurance Mohammed Kari, who disclosed this, said many broking licences are lying fallow as those who acquired them, only used them to secure one […]
NAICOM reviews outcome of order on IGI
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) is presently reviewing the outcome of the regulatory order slammed on Industrial and General Insurance (IGI) Plc, the Commissioner for Insurance, Mohammed Kari, has said. He told Inspenonline in an interview that the commission’s intervention helped reduced […]
Why PFAs shun investments in foreign securities
Mrs Anohu-Amazu and other PenCom’s executives The Contributory Pension Scheme (CPS) has yielded N5.3trillion, but Pension Fund Administrators (PFAs) are shying away from investing contributors’ and retirees’ funds in foreign capital and money market instruments. Instead, pension funds in Retirement Saving Accounts (RSA) of active contributors and retirees are being […]
