*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 […]
Insurance
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, […]
Linkage Assurance grows gross premium to N11.16bn in 2021
Leave a comment and share Chuks Udo Okonta Linkage Assurance Plc in the 2021 financial year recorded a 34 per cent growth in gross premium written (GPW) despite the challenging business environment. The underwriting firm grew its GPW from N8.33 billion in 2020 to N11.16 billion in the review year […]
NAICOM pegs web aggregator registration fee at N3m
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has pegged the minimum share capital of a web aggregator at N5 million and registration fee, N3 million. This was contained in the operational guidelines released by the regulatory body to serve as a working document to […]
NCRIB, CIIN partner to accelerate enforcement of law on compulsory insurances
Leave a comment and share Chuks Udo Okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) has forged synergy with the Chartered Insurance Institute of Nigeria (CIIN) to accelerate enforcement of the law on compulsory insurances. A statement by the Corporate Affairs Manager, NCRIB, Dele Ayeleso, said though, there have […]
Private health insurance accounts for less than 3% of Nigerian population – Dr. Falaiye
Leave a comment and share Chuks Udo Okonta No fewer than 19 States of the federation are at various stages of implementing universal health coverage through establishment of their respective health insurance schemes However, Anambra, Delta and Lagos states have particularly made significant progress in enrollment of people on this […]
Sovereign Trust Insurance gets A Rating from GCR with stable outlook
Leave a comment and share The International Credit Rating Agency, Global Credit Rating Limited, (GCR), has in its recent rating carried out in 2021, confirmed Sovereign Trust Insurance Plc as an A rated underwriting firm in the insurance sector of the Nigerian economy. Before now, Sovereign Trust Insurance Plc was […]
Casava secures $4m pre-seed funding to provide microinsurance for millions of Nigerians
Leave a comment and share Chuks Udo Okonta Casava, Nigeria’s first 100 Per cent digital insurance company, has secured $4 million in pre-seed funding to provide affordable and accessible insurance products for millions of Nigerians. Starting with income protection and health insurance, the insurtech startup is leveraging artificial intelligence and […]
