Leave a comment and share Chuks Udo Okonta Drops on yields from bonds and treasury bills, as a result of government policies, had significantly affected retiree life annuity business as it dipped by N29.2 billion, sliding from N230.2 billion in 2019 to N220.5 billion in 2020. Data obtained from the […]
Insurance
Insurers generate N388.03bn premium from Lagos, Yobe N17.18m
Leave a comment and share Chuks Udo Okonta Of the insurance industry’s N508.44 billion total gross premium written in 2020, N388.03 billion was generated from Lagos state, Inspenonline reports. Data obtained from the Nigerian Insurers Association (NIA) annual publication, Nigeria Insurance Digest 2020, revealed that while Lagos State provided the […]
African average insurance penetration rate drops to 2%
Leave a comment and share Chuks Udo Okonta African average insurance penetration rate dropped from 2.78 per cent in 2019 to 2 per cent in 2020. This is even as the the global average penetration rate was 7.20 per cent in 2019 and went up to 7.40 per cent in […]
Nigerian firm wades into murky legal waters with North Korean insurance policy
Experts say Kaztec Engineering’s $50 million ship insurance from the DPRK likely violated UN sanctions regime Ethan Jewell January 31, 2022 A Nigerian engineering firm insured at least one of its vessels through an obscure North Korean company, documents reviewed by NK Pro show, a transaction that may have run […]
Insurers riding on technology amid COVID-19 to boost profits
The Nigerian Insurance industry has proved most bookmakers wrong as operators have continued to reap huge profits amidst COVID-19 pandemic, a development made possible with the deployment of technology to run their operations. Chuks Udo Okonta, in this report examines how technology has helped propped insurance business and benefits achieved […]
Royal Exchange General Insurance company makes new executive appointments
Leave a comment and share Chuks Udo Okonta The Board of Royal Exchange General Insurance Company (REGIC) is pleased to announce the appointment of Oyetunji Oshiyoye as Executive Director Business Development; Uyi Osagie as Chief Financial Officer and Alfred Tabiti as AGM/Head Retail & E-Business. These appointments took effect from […]
NSIA Insurance drives operations with Project Act Together initiative
Leave a comment and share Chuks Udo Okonta NSIA Insurance kicked off the year 2022 on a high note with Project Act Together. The goal of the project is to develop a consistent mindset across all NSIA Group businesses, ensuring that each subsidiary would be well-positioned for success. The individuals […]
NCRIB President unveils achievements in office
Leave a comment and share Chuks Udo Okonta Less than 100 days in office, the President of Nigerian Council of Registered Insurance Brokers (NCRIB) Barrister Rotimi Edu, has apprised members of the broking fraternity and the general public of his achievements. He did this yesterday at a breakfast series organised […]
Ogunbiyi advocates proper regulation of insurance retail business
Leave a comment and share Chuks Udo Okonta Worried by the financial losses incurred by the insurance sector due to inappropriate rating of retail business, the Chairman, Mutual Benefits Assurance Plc, Dr. Akin Ogunbiyi, has drummed the need for proper regulation of the business. Ogunbiyi, at the Company’s 26th Annual […]
CIIN President Oyegunle bags Doctor of Insurance
Leave a comment and share Chuks Udo Okonta The President, Chartered Insurance Institute of Nigeria (CIIN) Sir. (Dr.) Muftau Olakunle Oyegunle, has been conferred an honorary Doctorate degree in Insurance (Honoris Causa) by Joseph Ayo Babalola University (JABU) at the University’s 12th Convocation Ceremony held today in Ikeji Arakeji, Osun […]
