Car owners, look away now – one industry insider has warned that the average motor premium could rise to over £1,000 next year. The worrying prediction was made Confused.com, which estimates that premiums will creep up from the current £767 average due to hikes in insurance premium tax in June […]
Insurance
British regulator to focus more on protecting insurance policyholders
By Huw Jones The Bank of England said it will devote greater effort to ensuring more consistent protection for those who would suffer most if their insurance policies do not pay out as promised. The move follows a review by the central bank’s Independent Evaluation Office (IEO), published on Monday, […]
Firms pay 28% of N356b premium income as claims
Chairman, Nigerian Insurers Association, Eddie Efekoha Of an estimated Gross Premium Income (GPI) worth N356 billion generated by the insurance industry last year, 28 per cent was paid out as claims to help individuals and businesses to recover from their losses, a report by Agusto & Co has shown. Agusto, […]
Govt to Review Group Life Insurance Policy for Civil Servants
By Favour Nnabugwu The federal government has still not payed the N5.4billion premium of its civil servants in the country six months after it was due for renewal. The Head of the Civil Service of the Federation, HOCSF, and the Bureau of Public Procurement, BPP, have selected 20 underwriters and […]
Big names dominate as Nigeria’s insurance sector seeks next growth phase
By BALA AUGIE Nigeria’s insurance sector is dominated by a few big company’s meaning it is increasingly difficult for smaller players to compete and ultimately push the sector to its next growth phase. For instance, recent report have it that African Reinsurance, a Pan African insurance company controls 65 percent […]
AIICO Insurance speaks on alleged unethical activity
From left: Company Secretary, Donald Kanu; Executive a Director,Babatunde Fajemirokun; Managing Director, Edwin Igbiti; Head Retail Business, Sola Ajayi, all of AIICO Insurance Plc during a press conference today in Lagos. Press Release AIICO INSURANCE ADDRESSES ALLEGED UNETHICAL ACTIVITY RECENTLY REPORTED IN THE MEDIA Our attention has been drawn to […]
FBNInsurance declares N3bn profit
FBNInsurance Limited has released its financial report for the year ended 2016 as approved by the industry regulator, National Insurance Commission (NAICOM). According to figures obtained from the published financial statements, the company’s profit before tax (PBT) increased by 70 per cent from N1.8 billion in 2015 to N3.13 billion […]
Trumpcare’s Rx: Unwanted babies and no health insurance | Editorial
Protesters wait to enter Congressman Leonard Lance’s Westfield district office in February, as hundreds rallied there in support of Planned Parenthood and the Affordable Care Act. (Patti Sapone | NJ Advance Media for NJ.com) BY STAR-LEDGER EDITORIAL BOARD eletters@starledger.com The Republican plan to end all federal funding for Planned Parenthood, […]
UAE insurers to raise rates but profits may stay flat
Mahmoud Kassem UAE insurers will get a boost this year from the expansion of mandatory Dubai health coverage and a new nationwide unified motor policy, according to S&P Global Ratings. But while premiums may rise, profitability may be patchy because data on customers is often not always comprehensive enough to […]
Fidelity Bank, Prudential launch insurance solutions for Ghanaians
Executives from Fidelity Bank and Prudential Life at the launch Fidelity Bank Ghana Limited, the largest private indigenous bank in Ghana, and Prudential Life Insurance Ghana, one of the leading insurers in the country, have today launched two innovative Bancassurance solutions to protect Ghanaians. The launch of the Fidelity Education […]
