Leave a comment and share Chuks Udo Okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) been mindful of myriad of challenges confronting Nigeria as a nation, especially the economy due to COVID-19, has resolved to focus its 2020 National Insurance Brokers Conference and Exhibition on how to rebuild devastated […]
Insurance
Group pushes for speedy passage of insurance consolidated bill
Onyeka (3rd from left) with other executives of Transparent Protection LTD/Gte (TPL) at the event. Leave a comment and share Chuks Udo Okonta The Transparent Protection LTD/Gte (TPL) has called on the 9th National Assembly to ensure a speedy passage of the Insurance Consolidated Bill, 2020, to drive the development […]
NAIPCO confab: Dr. Muda Yusuf, others to proffer sound investment channels for insurance, pension sectors
Yusuf Experts as well as stakeholders in the financial service sector will converge to deliberate on how insurance and pension fund operators can build their investment portfolios to maximise profit The deliberation, which is taking place at the 2020 annual Conference of the National Association of Insurance and Pension Correspondents […]
Successful implementation of recapitalisation ‘ll be favourable for Nigeria’s insurance sector – AM Best
Commissioner for Insurance Sunday Thomas. Leave a comment and share Chuks Udo Okonta The successful implementation of the new capital standards would be favourable for Nigeria’s insurance sector, as they should drive a market-wide strengthening of capital adequacy, AM Best has said. In a new Best’s Market Segment Report, “Nigeria’s […]
Insurers expect few clashes between EU and UK over capital rules
Since the capital rules were introduced by the EU in 2016, markets have evolved, with central banks pushing interest rates into negative territory to fight the coronavirus pandemic. The European Commission will propose draft amendments to the rules and their implementing measures next summer, the EU executive’s head of insurance […]
How COVID-19 is changing claims trends, risk exposures for companies, their insurers – Allianz
Leave a comment and share *AGCS report: traditional property and liability claims have been subdued during lockdowns but this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry. *Impact of the pandemic will shape future loss trends for companies in the mid- […]
Nigeria’s insurance market offers significant potential despite headwinds – AM Best
Commissioner for Insurance, Sunday Thomas Leave a comment and share Chuks Udo Okonta Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy continue to point to significant development potential for its insurance sector, AM Best has said. In a new Best’s […]
Man convicted of slaying parents for life insurance benefits
Joel Guy Jr A Tennessee man will likely spend the rest of his life in prison after being convicted of killing his parents over Thanksgiving weekend in 2016 and disposing of their bodies. Joel Guy Jr., 32, was found guilty Friday in Knox County of two counts of premeditated first-degree […]
Third of Kenya’s insurance firms fail capital test
Commissioner of Insuarance Godfrey Kiptum. Firms have up to December to comply. FILE PHOTO | NMG A third of insurance companies in Kenya failed to comply with capital requirements introduced in July prompting the regulator to extend the deadline by six months. Twenty insurance companies or 35 percent of 56 […]
Swiss Re: Insurance industry can’t foot the bill for COVID-19 damages
By David Whitehouse The costs of global pandemics such as COVID-19 exceed the capacity of the global insurance industry, making them effectively “uninsurable risks”, Beat Strebel, Swiss Re’s head of Middle East and Africa, tells The Africa Report. Swiss Re has “no appetite” to insure or reinsure against pandemics, said […]
