There have been 23,700 claims made for property damage – just over 4,000 relating to businesses, says Britain’s insurance body. British insurers say they are expecting to pay out more than £520m to help victims recover after Storm Desmond. Emergency payouts of £2.6m have already been made to people and […]
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Contributory pension assets rise to N5.14tn
Mrs. Chinelo Anohu-Amazu Nike Popoola The total assets under the Contributory Pension Scheme rose to N5.14tn at the end of October this year. Figures obtained from the National Pension Commission on Wednesday showed that 56.28 per cent of the money totalling N2.8tn was invested in Federal Government of Nigeria bonds, […]
Goldlink Insurance unveils forensic audit report
Leave a comment Chuks Udo Okonta The Interim Management Board of Goldlink Insurance Plc, today unveiled the report of the forensic investigation instituted by the National Insurance Commission (NAICOM) when it took over the management of the underwriting firm. Its Chairman, James Ayo, unveiled the report at the firm’s […]
Shareholders rattle NAICOM, seek EFCC searchlights
Kari Leave a comment Chuks Udo Okonta A drama ensued today as a shareholder engaged one of the Directors of the National Insurance Commission in a war of words over the handling of insurance companies in the country. The feud was observed at the annual general meeting of an insurance […]
Shareholders give NAICOM 90 days to reconstitute board of Goldlink Insurance
Leave a comment Chuks Udo Okonta Shareholders of Goldlink Insurance Plc, today, gave the National Insurance Commission (NAICOM) 90 days to reconstitute the board of the company to reflect the investors. The directive was given at the company’s annual general meeting in Lagos. It was unanimously supported by the shareholders […]
Insurers should be Indian-owned, controlled by January 18: IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) on Wednesday said all insurance companies have to report compliance on Indian ownership and control criteria by January 18, next year. In a letter to chief executive officers of all insurance companies in the country on Wednesday, V.R. Iyer, member (finance […]
Revocation of insurance brokers cuts 1000 jobs
Kari • NCRIB seeks NASS intervention Following the revocation of 108 insurance brokers, about 1000 employees have lost their jobs, causing untold harship to them and their family members. This is coming at a time Nigeria’s unemployment rate is about 35 per cent and harsh economic outlook persists. The National […]
Insurance firm turns to planting trees in South Africa to combat drought risk
Farmer Pieter Kruger stands smiling on a large weir built on a river in the Baviaanskloof area that provides water to South Africa’s fifth largest city. Tall and lean, he looks out over a gathering pool, delighted at the first time it has filled up enough to have the water […]
2016 Budget Speech: “The Budget of Change”
Delivered By: His Excellency, Muhammadu Buhari President, Federal Republic of Nigeria To A Joint Session of the National Assembly (on December 22, 2016) PROTOCOLS I am honoured and privileged to present the 2016 Budget proposal. This is my first address before this joint session of the National Assembly. I have […]
NAICOM dares Insurers to publish unwarranted charges
Leave a comment Chuks Udo Okonta The Commissioner for Insurance Mohammed Kari, has dared aggrieved insurance operators to make public the charges paid to the National Insurance Commission (NAICOM) that has culminated in their inability to pay dividends to their shareholders. He disclosed this at an event organised by Champion […]
