By Cynthia Ang South African life insurers provided more than 458,000 policyholders with premium relief assistance to the value of over ZAR1bn ($58.4m) between March and July this year, in an effort to help policyholders whose earnings were impacted by the COVID-19 lockdown preserve their risk cover and savings policies, […]
Insurance
Royal Exchange will surely recapitalised – Chairman
From left: Group Managing Director, Royal Exchange Plc, Olawale Banmore; Director, Hewett Benson; Company Secretary, Sheila Ezeuko; Director, Rufai Mohammed and Director Adeyinka Ojora at the event. Leave a comment and share Chuks Udo Okonta The Chairman of Royal Exchange, Kenny Odogwu, has expressed optimism that the the company will […]
DStv decoder insurance
DStv Explora 3A By Oluniyi D. Ajao The insurance industry in South Africa is massive and entrenched into every facet of the economy. From cellphone insurance, through car insurance to home insurance, the industry has many players vying for your business. One of the specialised ones is the company that […]
109,284 retirees get en-bloc payments totaling N27.09bn – PenCom
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said 109,284 retirees whose Retirement Savings Account (RSA) balances were N550,000 or below and considered insufficient to procure a Programmed Withdrawal (PW) or Annuity received an en-bloc payments totaling N27.09 billion from inception of the Contributory […]
Sovereign Trust Insurance grosses N10.8bn, fixes AGM for October 22, 2020
Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc, having been granted approvals for its 2019 annual reports and accounts by the National Insurance Commission (NAICOM) and the Nigerian Stock Exchange (NSE) respectively, has set Thursday, October 22, 2020 for its 25th Annual General Meeting (AGM). […]
NAICOM projects insurance as additional source of IGR for states
Thomas Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has called on state governments to domesticate compulsory insurances in their domains and leverage it to create additional source of Internally Generated Revenue (IGR). The Commissioner for Insurance, Sunday Thomas, who said this yesterday in Ado-Ekiti, […]
Governor Fayemi to connect NAICOM with 36 state governors on compulsory insurance
Fayemi Leave a comment and share Chuks Udo Okonta The Chairman, Nigeria Governors’ Forum (NGF) and Governor of Ekiti State, Kayode Fayemi, has pledged to work with the National Insurance Commission (NAICOM) on implementation and enforcement of compulsory insurance and may invite the insurance sector regulatory to meet with the […]
NAICOM to conduct pre-licensing inspection on Heirs Insurance, Stanbic IBTC Insurance, two others
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) is set to conduct pre-licensing inspection on the four firms seeking operational lincences to enable them execute underwriting business, Inspenonline has learnt. The Head, Commissioner for Insurance Directorate, NAICOM, Rasaaq Salami, in a telephone chat with Inspenonline, […]
UK insurers under fire as watchdog proposes radical ban on loyalty penalties
By Huw Jones, Carolyn Cohn Britain’s Financial Conduct Authority (FCA) on Tuesday proposed stopping insurers from charging existing car and home insurance customers more than new ones in the latest crackdown on an industry grappling with costly COVID-19 claims. One week after the FCA successfully brought a test case against […]
SA policyholders paid R230bn in claims and benefits during lockdown
*Over 480 000 also got R1bn in premium relief as a result of the crisis. By Larry Claasen Life policyholders received R230 billion in claims and benefit payments during the initial period of the COVID-19 crisis, according to the Association for Savings and Investment South Africa (Asisa). Web Money reported […]
