Leave a comment and share Chuks Udo Okonta NSIA Insurance Limited is poised to disrupt the norms with its Plan i initiative which projects insurance as best backup plan. According to the firm, the initiative tagged: “Plan i is the new plan B!” is a campaign meant to highlight the […]
Insurance
Insurance total assets soar to N2.14tn, GPI N630.36bn in 2021
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) said unaudited Gross Premium Income (GPI) for the insurance industry stood at N630,362.35 billion in 2021, as against audited N514 billion recorded in 2020. The Head, Corporate Communications and Market Development, NAICOM, Rasaaq Salami, told Inspenonline that […]
Insurers promote agric business with N1.64bn claims
Leave a comment and share Chuks Udo Okonta Insurance companies paid N1.64 billion claims to practitioners of commercial and subsidized agriculture that suffered losses in year 2020. Data obtained from the Nigerian insurers Association (NIA) by Inspenonline, revealed that operators of commercial agriculture got N836.24 million claims while those in […]
Revised risk based recapitalisation guideline coming soon
Leave a comment and share Chuks Udo Okonta The insurance industry recapitalisation exercise will soon be reactivated as a revised risk based guideline is in the works and almost set for release, Inspenonline can report. Our investigation revealed that to achieve this feat, the industry regulator, National Insurance Commission (NAICOM) […]
FSD Africa, NAICOM launch initiative to make insurance affordable, relevant for Nigerians
*The BimaLab Accelerator Programme will support the nation’s vision to meet the rising demand for innovative insurance products Leave a comment and share Chuks Udo Okonta FSD Africa and Nigeria’s National Insurance Commission (NAICOM) have partnered to launch BimaLab, an accelerator programme designed to boost the development and adoption of […]
CHI pays accident claims of NAIPCO member
Leave a comment and share Chuks Udo Okonta Consolidated Hallmark Insurance (CHI) Plc has paid accident claims of a member of the National Association of Insurance and Pension Correspondents(NAIPCO), who had an incident recently. The insurance firm, had, in October, renewed the Group Personal Accident Insurance cover worth N24 million […]
Insurance of buildings, public, under construction to be verified via NIID
*To launch implementation, enforcement and validation of genuine compulsory occupiers liability on April 28, 2022 Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) is in discussion with Lagos State Building Control Agency (LASBCA) with a view to using the Nigerian Insurance Industry Database (NIID) verification […]
With N45,000 you can get a Will – Leadway Capital
Leave a comment and share Chuks Udo Okonta Gbolahan Oluyemi of the Leadway Capital & Trusts Ltd has advised Nigerians on the need to plan their estate before their demise to ensure that their assets are distributed according to their wishes. Speaking at a training organised by Leadway Assurance for […]
Insurance agents top retail business, control life operations with N141.39bn premium
Leave a comment and share Chuks Udo Okonta Insurance agents are gradually taking over underwriting space through retail practice which has placed them top in life business premium drive. According to data obtained from the Nigeria Insurance Digest 2020, published by the Nigerian Insurers Association (NIA), agents controlled life business […]
Insurance brokers, agents earn N97.07bn commission in 2020
Insurance brokers, agents and others earned N97.07 billion commission from underwriters and reinsurers in 2020, Inspenonline reports. Brokers, it was gathered, generated N281.08 billion representing 25 per cent of the N508.44 billion Gross Premium Written (GPW) of insurance companies in the year. Data obtained from the Nigeria Insurance Digest 2020, […]
