insurance and pension news
Monday, January 25, 2021
Leave a Comment and share Chuks Udo Okonta The Economic Community Of West African States (ECOWAS) is set to inaugurate Ganiyu Musa, as the Chairman of Council of Bureaux, ECOWAS Brown Card Insurance Scheme. To this end, the inauguration, slated for 26th of January, 2020, is expected to take place […]
Elusakin Leave a comment and share Chuks Udo Okonta The Chairman, Office Representatives Committee (ORC) of the Chartered Insurance Institute of Nigeria, Gbenga Elusakin, has unveiled a 5-point agenda on which his is administration would leveraged to drive its set objectives. He unveiled the agenda during his investiture as the […]
Leave a Comment and share Chuks Udo Okonta Mandatory cession, preferential tax treatment and supervisory exemptions offered to local reinsurers create an unlevel playing field, hinder competition and deny insurers the benefit from the transfer of technical know-how from foreign reinsurance companies, hence should be reconsidered, the International Monetary Fund […]
From left: Chairman, Niger Insurance Plc, Dr. Stephen Dike; Managing Director, Edwin Igbiti, and Director, Mijinyawa Lawal, at the company’s Annual General Meeting in Lagos, yesterday Leave a comment and share Chuks Udo Okonta Niger Insurance Plc. has soothed pains of its policyholders by paying N1.7 billion as claims in […]
Leave a Comment and share Chuks Udo Okonta In spite efforts by some individuals to thwart the recapitalisation of the insurance sector, operators will still need to raise their capital to N8 billion; N10 and N18 billion immediately the consolidated bill transforms to an Act. Data obtained from the bill […]
Leave a Comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has thrown its supports behind the newly licenced FBS Reinsurance Limited by ensuring that underwriters recognise the firm as they embark on this year’s reinsurance treaties. Inspenonline gathered that underwriters which hitherto failed to recognised the firm […]
° Says NAICOM’s supervisors spend more time verifying data than analysing them Leave a comment and share Chuks Udo Okonta The International Monetary Fund (IMF) has said supervisors from the National Insurance Commission (NAICOM) spend more time verifying data than analysing them due to poor accounting and auditing of Insurance […]
Leave a comment and share Chuks Udo Okonta The International Monetary Fund (IMF) has said Nigeria’s insurance industry minimum capital requirements are three to six times higher than other developing countries. The IMF said this in a report entitled: Nigeria: Publication of Financial Sector Assessment Program Documentation – Detailed Assessment […]
Leave a comment and share Chuks Udo Okonta Nine months after the Insurance industry granted N11 billion life insurance cover to frontline health workers employed to combat COVID-19 pandemic, the Federal Government is yet to report any claim amid acclaimed deaths by the Nigerian Medical Association (NMA). Investigation by Inspenonline […]
MD/CEO Sovereign Trust Insurance, Olaotan Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc has over a decade now, consistently maintained a confident A- rating with the international rating agency, Global Credit Rating, GCR based in South Africa. A statement by the Deputy General Manager Sales […]
