By Ebere Nwoji The federal government’s delay in releasing about N5.4 billion funds for the payment of premium for the Group Life Insurance of the federal civil service workers is said to be a major factor inhibiting the renewal of the contract which expired three months ago, THISDAY checks have […]
Insurance
PILA urges FG to initiate life insurance policy
The Professional Insurance Ladies’ Association (PILA) on Monday urged the Federal Government to initiate a bill seeking to compel men – from 18 years – to take life insurance policy. The PILA President, Jocelyn Ogbuokiri, made the appeal in Lagos. Ogbuokiri said that such a bill had become necessary to […]
International media experts to judge Pan-African Re/Insurance Journalism Awards 2017
Leave a comment and share Chuks Udo okonta Continental Reinsurance Plc has today announced the jury members for the second edition of the Pan-African Re/Insurance Journalism Awards. Afif Ben Yedder, Founder of IC Publications, publisher of leading magazines African Business and New African, will chair the jury this year. Other […]
NAICOM kickstarts Lagos inspectorate directorate Office
Leave a comment and share Chuks Udo Okonta The Inspectorate Directorate of National Insurance Commission (NAICOM) that was moved to Lagos Control office, has commenced operations, Inspen can report. Head, Corporate Affairs, NAICOM, Rasaaq Salami, who confirmed this, said the Directorate commenced work last week. According to him, the relocation […]
Insurance sector needs innovation to aid supply-side reform
By Song Jingli Wei Yingning, former vice-chairman of China Insurance Regulatory Commission, delivers a speech at the launch ceremony of the China Insurance and Pension Fund Research Center at the PBC School of Finance at Tsinghua University on Nov 20, 2016. [Photo provided to chinadaily.com.cn] China is likely to surpass […]
China’s online insurance sales surge in 2015
BEIJING – With more Chinese managing their wealth online, insurance policies sold via the Internet more than doubled in China last year. The combined premiums of insurance policies sold online totaled 223.4 billion yuan ($32.5 billion) in 2015, jumping 160 percent from 2014, said an industry report released Sunday by […]
NAICOM forecloses bailout for ailing firms
By Bankole Orimisan Following the financial crisis weighing down the fortunes of some insurance companies in Nigeria, the National Insurance Commission (NAICOM), the industry regulator has foreclosed the possibility of assisting them financially through a bailout to save it from collapse. The regulator said the insurance law did not make […]
Insurance Sector Loses N240bn To 8m Uninsured Automobiles
ZAKA KHALIQ The insurance industry has lost a whopping N240 billion premium income from the non-insurance of an estimated eight million tricycles and motorcycles which ply Nigerian roads, over a period of 6 years, from year 2010 to 2016, LEADERSHIP investigation has revealed. This figure, according to findings, is only […]
Committee tackle NAICOM over cumbersome reporting procedure
Leave a comment and share Chuks Udo Okonta The Risk Management and Compliance Committee of the Nigerian Insurers Association (NIA) says the cumbersome report formats issued by the National Insurance Commission (NAICOM) is responsible for delays in submission of companies reports. The committee said this in a report presented to […]
Foreign entrants drive sales of personal line insurance – NAICOM
Leave a comment and share Chuks Udo Okonta The advent of foreign players in the insurance industry has brought a shift from wholesale insurance to personal-line products, Inspen can report. The Commissioner of Insurance, Mohammed Kari, said this at a forum organised by the Nigerian Council of Registered Insurance Brokers […]
