Kenya Re Managing Director Jadiah Mwarania. 14/06/2016. Photo by WILLIS AWANDU Reinsurance companies say they have little to smile about in the wake of the new marine insurance law. This is because the law, contained in Section 20 of the Insurance Act that makes it mandatory for local cargo importers […]
Insurance
FG, Underwriters Optimistic About N1trn Insurance Premium Target
Operators in the insurance industry have expressed optimism that the federal government’s target of N1 trillion insurance premium income is realisable. They, however, differed on 2017 as the set year based on some key factors. Managers of insurance companies who spoke exclusively to LEADERSHIP Sunday noted that the total premium […]
Why capital verification has not commenced – Kari
Leave a comment and share Chuks Udo Okonta The Commissioner for Insurance, Mohammed Kari, has attributed the delay in takeoff of proposed insurance industry’s capital verification to execution of other projects by the National Insurance Commission (NAICOM). He told Inspen that the commission has internally set up project team to […]
Insurers react to resolutions on annuity
Leave a comment and share Chuks Udo Okonta Insurance operators have reacted to resolutions reached by the National Pension Commission (PenCom) and National Insurance Commission (NAICOM) on the controversy that had trailed annuity business since last year. To stem the fuss on annuity which started November last year, pension and […]
Brokers: NAICOM to issue deadline for activation of lapsed licences
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) says the deadline for brokers to activate their lapsed licences, would be issued before the end of this month. The Commission for Insurance, Mohammed Kari, said this in an interview with Inspenonline, adding that the window given […]
N100bn capital: RBS to prescribe suitable fund base for insurers
Leave a comment and share Chuks Udo Okonta Some insurers seemed not to be comfortable with recent called for pegging of insurance capital base at N100 billion, Inspen can report. The Director-General, Nigerian Insurers Association (NIA), Sunday Thomas, told this medium that the gradual implementation of the proposed Risk-Based Supervision […]
Allianz wins International Corporation of the Year award
Leave a comment and share Chuks Udo Okonta • Allianz recognized for its outstanding growth in Africa • African insurance market presents long-term growth potential Allianz has won ‘International Corporation of the Year’ award. The firm received the award at the 5th annual Africa CEO Forum, which held in Geneva. […]
UK to ask insurers to be realistic over airline laptop curbs
British Transport Secretary Chris Grayling said he would be contacting insurers on Wednesday to ask them to be “realistic” about the curbs on carry-on electronic devices on planes coming from certain airports in the Middle East and North Africa. On Tuesday, Britain joined the United States in imposing restrictions on […]
Sanlam buys majority stake in PineBridge
PineBridge Investments Chief Executive Officer Jonathan Stichbury. [PHOTO:JAMES WANZALA/STANDARD] South African financial services group Sanlam is set to buy a majority stake in PineBridge Investments East Africa Limited (PIEAL). The deal, which is waiting for regulatory approval by capital markets and retirement benefits authorities in Kenya, will see PineBridge rebranded […]
Key findings – the what, where and how of insurance growth 2017
Buying scale and scope: What’s driving activity in 2017? With the underlying factors supporting M&A strong, we anticipate 2017 will see a return to form for insurance transactions. Low growth encouraging consolidation and diversification Against a low growth backdrop, achieving scale through acquisition has clear advantages, both in expanding revenues […]
