By Marion Dakers, Financial Services Editor London-listed insurance group Old Mutual has sold off its bond manager Rogge to rival Allianz, becoming the latest international insurer to rejig its business. Rogge, which is based in the capital and has been on the market for several months, manages nearly £25bn but […]
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Pensioners Picket First Bank Over N15,000 Monthly Pension, Others
Fisrt Bank Penssioners Union on Monday picketed the main branch of First Bank in Kaduna over alleged failure of the bank to improve the welfare of its pensioners. The National Chairman of the union, Alhaji Mohammed Bungudu told the News Agency of Nigeria (NAN) that the picketing was going on […]
Lapsed brokers’ licences re-registration: Could merger be way out?
Kari The requirements for re-registration of the 108 lapsed insurance broking licences were considered too stringent by some brokers, especially with the payment of N2.25 million licensing fees and N 250,000 appeal fees each, among others. However, there have been suggestions of merger among the affected broking firms to scale […]
Positive outlook for new pension regime – Petra Trust CEO predicts
By: Samuel Doe. Ablordeppey The Managing Director of asset management company Petra Trust, Mr Kofi Fynn, has said the economy will experience enhanced benefits from the current pension regime when more innovative products emerge on the market as investment instruments for fund managers. He said since investment channels were largely […]
China becomes world’s third largest insurance market
BEIJING, Feb. 8 (Xinhua) — China became the world’s third largest insurance market in 2015, with insurance premiums surging in the past five years, according to the China Insurance Regulatory Commission (CIRC). With an annual growth rate of 13.4 percent, insurance premiums increased from 1.3 trillion yuan (about 197.9 million […]
12 million Nigerian motorists carry fake insurance papers
Only about 4.3 million of the vehicles plying Nigerian roads have valid insurance certificates, NIKE POPOOLA writes Most motorists are endangering the lives of other road users by driving vehicles on Nigerian roads without appropriate insurance certificates, investigation has revealed. Instead of procuring valid certificates that would provide insurance cover […]
AXA Targets Africa Customers With $84 Million Online Investment
By Loni Prinsloo AXA SA plans to invest 75 million euros ($84 million) in Africa Internet Group, the Nigerian owner of online businesses including retailer Jumia, as France’s biggest insurer extends its product offering to customers on the world’s least developed continent. The deal will give the Paris-based company an […]
CIIN eyes SUVs for miss insurance
From left:Member of council of the Chartered Insurance Institute of Nigeria Mrs Adetutu Arusiuka, President, Lady Isioma Chukwuma and Group Managing Director AIICO Insurance Edwin Igbiti at the event today in Lagos. Leave a comment Chuks Udo Okonta Winners of Miss Insurance pageant would be driving home Sport Utility Vehicles […]
Finance Minister Reveals Plan To Develop Insurance Sector
Mrs Adeosun The Minister of Finance, Mrs Kemi Adeosun, has promised to ensure that legislation that affect the nation’s insurance industry are treated as priority as a way of making the sector contribute meaningfully to the economy. The Minister who spoke at meeting in Abuja said that the federal government […]
Gambia: Insurance Companies Implement ‘No Premium, No Cover’ Policy
All the insurance companies in The Gambia have started to implement the “No premium, No cover” policy with effect from January this year, as part of the measures to reform the industry. This means that henceforth, insurance companies have to collect premiums upfront before providing insurance cover for all classes […]
