Major UK insurer Admiral has announced that it will use data garnered from Facebook profiles to help set insurance premiums for first-time drivers. The company intends to examine Facebook data including likes and posts for safe driver indicators: writing in short, concrete sentences and making concrete plans with friends using […]
Insurance
Exclusive: NAICOM kicks as PenCom wants over N145.05bn annuity funds move to PFCs
Leave a comment and share Chuks Udo Okonta A circular issued by the National Pension Commission (PenCom) mandating life insurance operators to transfer annuity funds in their kitty to Pension Fund Custodians (PFCs) has raised a frenzy in the industry sector, as the National Insurance Commission (NAICOM) and insurance operators […]
Royal Exchange Announces 22% Growth in Gross Written Premium in 9 Months
Auwalu PRESS RELEASE At the end of the third quarter 2016, Royal Exchange Plc, one of the leading insurance and financial services group in Nigeria, has announced a 22 percent growth in its Gross Written Premium (GWP) from its business activities in the first nine months of the 2016 financial […]
Allianz Life eyes low-income segment with new micro insurance product
New product: Allianz Life Indonesia country manager and CEO Joachim Wessling (right) addresses the audience at the launch of the company’s new micro insurance product in Jakarta on Tuesday, as the life insurer’s head of credit and emerging consumer Yoga Prasetyo looks on. The product, launched in collaboration with telecommunications […]
Facebook blocks UK insurer Admiral from profiling users for discounts
‘Firstcarquote’ analyzes applicants’ Facebook accounts to determine whether they might be a safe driver. By Matt Brian When you’re a first-time driver, getting a reasonable car insurance quote can be a tricky affair. Age and inexperience on the road result in higher premiums, which only come down after you’ve proven […]
Niger Insurance reports 9-month net operating loss before tax of 407.2 mln naira
* 9-months ended Sept 2016 net operating loss before tax of 407.2 million naira versus profit of 613.1 million naira year ago * 9-months ended Sept 2016 net premium income of 4.18 billion naira versus 8.08 billion naira year ago. Reuters
AIG pulls out of Uganda in strategy to exit smaller markets
.AIG says it has already started a phased withdrawal from Uganda Catherine Igathe, AIG Kenya managing director. By BRIAN NGUGI US multinational AIG, which also operates in Kenya, says it is withdrawing from the insurance business in Uganda as it reduces presence in smaller markets. AIG, which this year announced […]
Continental Re posts N17.5bn in Q3
Dr Oyetunji Leave a comment and share Chuks Udo Okonta Continental Reinsurance Plc said it posted N17.5billion in third quarter 2016 as against N15.1 billion recorded in 2015 representing a 16 per cent growth. “Growth opportunities and challenges continue to vary widely across our markets, while short-term risks have introduced […]
Insurers settle $19 billion Canterbury claims
The Insurance Council of New Zealand announced today that private insurers have paid out nearly $19 billion to settle commercial and residential claims since the Canterbury earthquakes in 2010 and 2011, of which nearly $9 billion was for domestic claims. Chief Executive Tim Grafton said “insurers have now fully settled […]
S-Africa’s strained social networks open doors for life insurers
* In Africa, communities act like insurance policies * As social ties fray, life insurance gains customers * Kenya, Ghana attract insurers, markets still modest * Paying for funerals still main focus of policies By Katharine Houreld NAIROBI, Oct 31 Families gather at Nairobi’s Garden Square restaurant each evening seeking […]
