PenCom’s Director-General Chinelo Anohu-Amazu Leave a comment Chuks Udo Okonta John Peter not real name, retired from one of the Federal Government’s agencies and had N6 million in Retirement Savings Account (RSA) and was paid N1.4 million as lump-sum and the balance N4.6 million was used to procure programmed withdrawal […]
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NAICOM to delist 150 more broking firms
Leave a comment Chuks Udo Okonta At a time the dust raised over the delisting of 108 insurance broking firms is still spreading, the National Insurance Commission (NAICOM) is considering delisting 150 more firms, Inspen has learnt. Our source stated that the planned delisting is strictly handled by the commissioner […]
BPE Denies Holding Back N27bn PHCN Pension Premium
Chima Akkwaja The Bureau of Public Enterprises (BPE) has distanced itself from the huge outstanding insurance premium of staff of the Power Holding Company of Nigeria (PHCN) who died in active service. The Bureau confirmed there is outstanding premium of about N27,188,232,208.20 for which payment has not been made. According […]
FG To Introduce Death Insurance For Soldiers Fighting Insurgency
Dan-Ali Agency Report Leave a comment The Minister of Defence, retired Brig.-Gen. Mansur Dan-Ali, said on Friday that the Federal Government would introduce insurance package for soldiers fighting insurgency in the North-East. Dan-Ali made the disclosure while briefing newsmen shortly after a Special Juma’at Prayer to mark the 2016 Armed […]
Insurance market in Nigeria will see solid growth this year
Experts are predicting that, regardless of the challenges in the country, the industry will be growing faster. A recent analysis has been published by KPMG and has predicted that the insurance market in Nigeria will see its growth picking up speed despite some of the challenges it has been facing […]
Insurance buyers to use NIN from Sept 1
Leave a comment Chuks Udo Okonta From September 1, this year, the National Identification Number (NIN) would be use in the purchase of insurance policies, Inspen has learnt. The General Manager Legal Services, National Identity Management Commission (NIMC), Mrs Hadiza Dagabana, disclosed this on Saturday, while making some clarifications on […]
Shriram Capital Weighs Sanlam’s Interest in Insurance Business
CHENNAI: Financial services firm Shriram Capital Ltd (SCL) on Tuesday said its South African partner Sanlam’s decision to invest directly in the former’s insurance business will be finalised by April. Currently, Sanlam holds 26 per cent stake in the Rs 70,000-crore SCL, the holding company of Shriram Life Insurance and […]
Pension fund withdrawals very worrying, say experts
By Brian Milligan Personal Finance reporter Figures from the City regulator show that 120,969 who cashed in a pension fund between July and September last year took the whole lot out. In contrast just 58,021 people used the money to buy themselves an income, said the Financial Conduct Authority (FCA). […]
Woman pleads guilty to burning O.C. homes, cars for insurance money
SANTA ANA – A 41-year-old woman pleaded guilty Wednesday to setting her Orange County homes and car on fire to reap hefty insurance payments. Andrea Michelle Robinson also admitted welfare fraud while not disclosing her income from insurance claims. She was scheduled to be sentenced Jan. 21 for her guilty […]
New York Insurance Agent Couple Charged With Defrauding Clients
New York authorities announced that a Rochester, New York, couple has been charged with defrauding their Rochester insurance agency clients. Gary Gubiotti and Bonnie Gubiotti, both 67, are accused of stealing more than $150,000 from clients by falsely inflating insurance premiums, failing to remit refunds, and forging finance agreements from […]
