Leave a comment and share Chuks Udo Okonta Continental Reinsurance Plc has taken up a 40 per cent minority stake in its Botswana subsidiary (Continental Reinsurance Ltd), giving the company a 100 percent holding of the issued ordinary share capital in the local unit. The acquisition was conducted through its […]
Insurance
Recapitalisation: Law Union & Rock Insurance Shareholders accept new investor’s offer
From left: Non-Executive Director, Law Union & Rock Insurance Plc, Mrs Onome Adewuyi; Managing Director/CEO; Ademayowa Adeduro; Chairman, Remi Babalola; Company Secretary, Stanley Chikwendu; and Executive Director, Olasupo Sogelola at the 51st Annual General Meeting of company held in Lagos. Leave a comment and share Chuks Udo Okonta Shareholders of […]
ILAN President pushes for more female in loss adjusting business
From left: Outgoing President Institute of Loss Adjusters of Nigeria, Alhaji Femi Hassan, Newly Sworn-in President ILAN, Mr. Reginald Egbuniwe, Administerer of Oath Odion Aideloje and Past President ILAN Chief Lebi Omoboyowa during the Investiture of Egbuniwe as the 12th President of the Institute of Loss Adjusters of Nigeria in […]
Expert applauds NAICOM, PenCom over new rules on retiree life annuity
Takor Leave a comment and share Chuks Udo Okonta A Legal Practitioner and the Executive Director, Centre For Pension Right Advocacy, Ivor Takor, has lauded the steps taken by the National Insurance Commission (NAICOM) and National Pension Commission (PenCom) in addressing challenging clogging the marketing of Retiree Life Annuity (RLA) […]
A new insurance fiddle was uncovered every five minutes last year, with cheats including a policeman and a trainee GP
*107,000 fraudulent insurance claims were uncovered by insurers in 2019 *A police officer and a trainee GP found to be among the cheats exposed *The rise was mainly due to increases in motor and property scams By GRACE GAUSDEN FOR THIS IS MONEY Some 107,000 fraudulent insurance claims, worth a […]
Insurer Lloyd’s to pay out £5bn in pandemic claims
The insurance giant’s payout tops the cost of 2017’s three most devastating hurricanes. Lloyd’s of London paid out about £3.6 billion for the 9/11 attacks in New York in 2001 (Stefan Rousseau/PA) Lloyd’s of London paid out about £3.6 billion for the 9/11 attacks in New York in 2001 (Stefan […]
Reinsurance prices will rise 5% because of pandemic:Survey
By Ranamita Chakraborty Moody’s recent annual survey of P&C reinsurance buyers saw most respondents (48%) regarding the COVID-19 pandemic as one of the major factors behind increasing reinsurance prices in 2021 These respondents expect reinsurance prices to rise by at least 5% next year as the fallout from COVID-19, more […]
Online retailer Jumia to sell insurance in deal with Lami Technologies
Africa’s biggest online retailer Jumia is set to offer digital insurance products following a partnership with Lami Insuretech, an insurance technology company. Our goal is to onboard products from more than 30 underwriters on Jumia before the end of 2020,” Jihan Abass, Founder and CEO of Lami said. “This partnership […]
Continental Reinsurance leverages Agritask’s risk management platform to enhance agricultural reinsurance operations across Africa
Continental Reinsurance Plc, the largest private pan-African reinsurer, has selected the Agritask risk management platform to enhance its agricultural reinsurance operations. Agritask is a leading developer of an agronomic operations platform with clients in 5 continents ranging from food & beverage to financial services businesses. It will support Continental Re […]
Nigeria’s new fintech Sparkle plans to distribute general insurance products
Uzoma Dozie By David Whitehouse Nigerian start-up Sparkle, which this month partnered with Visa, is planning to move into digital distribution of general insurance products in the next 12 months, Sparkle CEO Uzoma Dozie tells The Africa Report. Sparkle, founded in 2019 and based in Lagos, has an in-country insurance […]
