Insurers are waiting with bated breath for a potential N224 billion windfall from a stimulation of the industry by government’s record 30.7 percent capital expenditure in the 2017 budget that will trigger activity in infrastructure. Analysts’ expectations are based on the effective implementation of the total budget of N7.2 trillion […]
Insurance
Mutual Benefits Assurance staffer docked for N4.5m fraud
Peters An insurance supervisor with Mutual Benefits Assurance Plc, Emmanuel Peters, has been docked at an Igbosere Magistrates’ Court sitting in Lagos State for the allegedly stealing N4.5 million belonging to customers. Punch reports that the 30-year-old Peters, who lived on Ojelade Street, Jibowu area of the state, was employed […]
Guinea to hold AGM
Leave a comment and share Chuks Udo Okonta Guinea Insurance Plc has announced plans to hold its 58th Annual General Meeting (AGM) having secured approval for 2015 financial accounts from National Insurance Commission (NAICOM). A statement from the Team Lead, Corporate Communications of the firm, Ufot Hanson, the development is […]
African Trade Insurance Agency to help Benin attract US$15 million by 2021
In 2013, Benin became the first West African country to join ATI, a pan-African institution that provides political, investment and commercial risk insurance products Benin is a country on the rise led by a newly appointed businessman-come President, H.E. Patrice Talon. Last week, the President launched a five-year program that […]
PenCom, NAICOM continue discussions on annuity today
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) and National Insurance Commission (NAICOM) would today continue deliberations on how to resolve the impasse on transfer of annuity assets from life insurance companies to Pension Fund Custodians. Inspen gathered that the parties held their first meeting […]
43 insurance firms record negative financial results
Leave a comment and share Chuks Udo Okonta Only 13 out the 56 insurance firms in the country, were able to record profits between 2010 and 2014, while 43 others made losses. Worried by the development, observers have called on insurance operators to redouble their efforts in ensuring that they […]
Morocco Among Top 3 Fastest Growing Reinsurance Markets in Africa
Kenya, Nigeria and Morocco are the fastest growing reinsurance markets in Africa, driven by the size and diversity of their economies, a young and growing population and advanced regulatory regimes, Dr. Schanz, Alms & Company said in its yearly survey “Africa Reinsurance Pulse 2016.” The introduction of risk based capital […]
NAICOM woos stockbrokers for insurance distribution
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) in it continuous effort at deepening insurance penetration in the country, yesterday visited the Director- General, Security and Exchange Commission (SEC) Munir Gwarzoto, to intimate him of the need to engage stockbrokers as referral agent in the […]
Inspenonline wins Insurance, Pension Reporting excellence award
Leave a comment and share Chuks Udo Okonta Inspenonline has won an award for Excellence in Insurance & Pension Reporting – West Africa, organised by Corporate Vision Magazine, of the United Kingdom. According to the firm, Inspenonline was chosen owing to its contributions toward insurance and pension in West Africa. […]
FBNInsurance celebrates outstanding performance in 2016
From left: Chairperson, FBNInsurance Limited, Mrs Adenrele Kehinde; Dr Umekwe Odinakachi and Managing Director, FBNInsurance Limited, Val Ojumah at the event in Lagos. Leave a comment and share Chuks Udo Okonta The Management and staff of FBNInsurance Limited and FBNInsurance General Limited on Wednesday rolled out drums to celebrate the […]
