“I must still say that it is a misnomer that NAICOM thinks that the only way to develop the sector is just to be increasing capital year in, year out. Currently we are not able to return profit on the amount of capital we are working with. Insurance is totally […]
Quotes
Digital Insurance
“Let me restate that any professional who wants to remain relevant must see the opportunities in the threats posed by this digital era” President, Chartered Insurance Institute of Nigeria, Eddie Efekoha
Claims payment
“It is imperative for me to remind us here that your companies are in the business of insurance primarily to settle genuine claims made by policyholders” Acting Commissioner for Insurance, Sunday Thomas
Theresa May’s cabinet: Who’s in and who’s out?
Breaking: FG removes subsidy, fuel to sell for 145 per ltr
The Federal Government, Wednesday, removed subsidy on Premium Motor Spirit, also known as fuel as it will now sell for N145 per litre. The Minister of State for Petroleum, Ibe Kachikwu, announced the policy change in Abuja on Wednesday afternoon, confirming PREMIUM TIMES exclusive report of Monday, May 9 on […]
Breaking: Axa to underwrite political risks in Africa from May 1
Axa has entered the African specialty market via a special purpose syndicate (SPS) arrangement with Chaucer Syndicate 1084, it announced today (19 April). Axa Africa Specialty Risks will write speciality lines including political risks, energy and infrastructure for the African market from 1 May. The partnership will initially utilise Axa’s […]
Volkswagen CEO Martin Winterkorn quits over biggest scandal in its 78-year history
Volkswagen Chief Executive Martin Winterkorn resigned on Wednesday, taking responsibility for the German carmaker’s rigging of US emissions tests in the biggest scandal in its 78-year history. “Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation,” […]
Ben Carson ‘should quit 2016 race’ over Islam remarks
Calls are growing for Republican Ben Carson to quit the 2016 race after he said a Muslim should not be president. BBC reported that Muslim-American groups, among others, have said these views make him unqualified to run himself. Mr Carson, a Christian, made the comments on Sunday, adding that Islam […]
Builders must now offer work insurance
Workers at a construction site in Ha Noi. Construction firms now have to purchase insurance for both projects and workers. — VNA/VNS Photo Vu Sinh HA NOI (VNS)— In a move to ensure workers’ safety and regulate construction related insurance mechanism, project owners and contractors undertaking construct-ion work would now […]
Finance and Central Bank to seek insurance remedies
Gordon Deegan Senior officials from the Department of Finance and the Central Bank are to meet to discuss measures to address weaknesses in the loss-making insurance industry. The talks between the two sides are to focus on policy initiatives suggested by Central Bank governor, Patrick Honohan for the sector. This follows […]
