Kari By: Omobola Tolu-Kusimo The regulatory body of the insurance sector, the National Insurance Commission (NAICOM), has fined some insurance firms over $4 million (N1.46 billion) as penalties for various infractions. The Commissioner for Insurance, Mohammed Kari, who stated this over the weekend at a two-day seminar for insurance correspondents […]
Insurance
Equity Assurance Sells 67% to French Company
‘ Steven S. Kolubah, Board Chairman of Equity Assurance and Karim Franck Dione, Head, Management Control, Equity Assurance subsidiaries A Franco-phone African Insurance Group, SUNU has bought substantial equity (67 per cent) of Equity Assurance Company Liberia Ltd. This represents a total of US$1.389, 540 million shares bought by the […]
NAICOM gives firms 18 months grace to get fresh microinsurance licence
From left: Deputy Commissioner Technical, National Insurance Commission, Sunday Thomas; Chairman, National Association of Insurance and Pension Correspondents, Mrs Omobola Tolu-Kusimo; Deputy Commissioner (Finance & Administration), George Oneknena and Director, Finance and Accounts, Oba Olufemi at the event. Leave a comment and share Chuks Udo Okonta The National Insurance Commission […]
Linkage Assurance, Niger Delta University to harness talent for insurance industry
From left: Dr Pius Apere, Managing Director/CEO, Linkage Assurance Plc in a handshake with Professor Samuel Edoumiekumo, Acting Vice Chancellor, Niger Delta University (NDU) during a Career Talk by Linkage Assurance Plc at the University Campus in Bayelsa State. …as firm offers career advancement opportunity to exceptional students Leave a […]
South African Insurance Bill signed into law
On 17 January 2018, the President of the Republic of South Africa signed the Insurance Bill into law. Inter alia, the now Insurance Act, 2017, provides a consolidated legal framework for the prudential supervision of the insurance sector that is consistent with international standards for insurance regulation and supervision, and […]
Insurance agents to explore opportunities in microinsurance
Leave a comment and share Chuks Udo Okonta Insurance agents hope to collectively examine the recently released revised guideline on microinsurance and determine how to maximize opportunities therein. The Chairman in Council, Association of Registered Insurance Agents of Nigeria (ARIAN) Gbadebo Olameru, told this medium that the body will sit […]
CHI rights issue attains 100.09% success
Efekoha Leave a comment and share Chuks Udo Okonta Shareholders of foremost Insurer, Consolidated Hallmark Insurance (CHI plc) have affirmed their full support for, and confidence in the operations of the organisation with a 100.09 per cent subscription of the recent Rights Issue that set out to raise N500 million […]
‘Insurance low penetration shows humongous growth potentials’
Leave a comment and share Chuks Udo Okonta The insurance industry is a green field waiting to be harvested, even as the low penetration shows clearly the humongous growth potential, Chairman, Law Union & Rock Insurance Plc, Remi Babalola, has said. He noted in a paper entitled: ‘The Future Today […]
Unmanaged IT deployment threat to brokers, insurers relationship – Expert
Leave a comment and share Chuks Udo Okonta Insurers and brokers have been urged to effectively manage the deployment of information technology so that it would not create strains on their relationship. The Past President, Nigerian Council of Registered Insurance Brokers (NCRIB), Kayode Okunoren, said this in a paper entitled: […]
Microinsurance creates opportunities for retired insurance professionals- Experts
Leave a comment and share Chuks Udo Okonta The revised microinsurance guideline recently issued by the National Insurance Commission (NAICOM) has opened doors of opportunities for retired and retiring insurance professionals, experts have said. According to them, the categorization of the microinsurance business would enable the professionals, especially managing directors […]
