Chuks Leave a comment and share •77 business reporters from 15 French and English African countries participated in the 2020 Pan African Re/Insurance Journalism Awards Leading Pan African Reinsurance firm, Continental Reinsurance Plc, today honoured winners of its 2020 Pan African Re/Insurance Journalism Awards at a virtual awards ceremony following […]
Insurance
COVID-19: Insurer reduces CEO remuneration, cancels dividend
Leave a comment and share According to an official statement, SCOR chairman and CEO Denis Kessler “has proposed to the compensation and nomination committee that his annual variable compensation for the 2019 fiscal year be reduced by 30% compared to the amount mentioned in the 2019 URD published on March […]
Prudential Uganda and Goldstar Insurance partner to offer COVID-19 cover
By Cynthia Ang Prudential Uganda and Goldstar Insurance have collaborated to launch a new product, ‘COVID19 Group Life Extension Insurance Cover’, for groups of individual companies and organisations. The new product is underwritten by Prudential. Under the deal, Prudential will provide cover to all Goldstar’s workers compensation and group personal […]
Law Union and Rock grows profit by 254%
Adeduro Leave a comment and share Chuks Udo Okonta Law Union & Rock Insurance Plc, one of the leading underwriting firms in the country has witnessed impressive growth in key indices of its 2019 financial account and here is an analysis of those figures. The underwriter posted a 254.43 per […]
Most insurers assure employees of full salary, other benefits amid COVID-19
Leave a comment and share Chuks Udo Okonta Many insurance companies have retained their employees and continued to pay their full salaries, in spite the challenge posed by the COVID-19 pandemic, Inspenonline can report. This is even as many blue chip companies in other sectors of the economy have slashed […]
Life and non-life insurers see different impacts from COVID-19 uncertainty
By Ranamita Chakraborty The main impact of the coronavirus outbreak in 1Q2020 on South Korean insurers probably came from heightened financial market uncertainty rather than the resultant business disruptions – suggested financial results announced by the top 10 local life and non-life insurers. According to an article from credit rating […]
AXA ordered to pay coronavirus-related BI losses
By Ahmad Zaki A Paris court has ruled that AXA must pay a restaurant’s coronavirus-related claims, amounting to two months’ worth of revenue losses. This ruling potentially paves the way for similar litigation from other policyholders. AXA has said that it will appeal the ruling, which will be of interest […]
Majority of large insurance companies could increase IT budget
By Vincent Liu Liang ZhongAn Fintech Research Institute has published a report that analyses the experience of domestic and foreign insurance companies dealing with the pandemic and put forward suggestions for the development of the industry in the post-pandemic era. Due to social distancing during the pandemic, most insurance companies […]
African Alliance: Relentless at 60
The place of African Alliance as a foremost life insurer in the comity of insurers in Nigeria is assured. Incorporated on the 6th of May, 1960, the Company was founded by the inimitable duo, Chief S.L Edu (CON) and Mr Talabi Braithwaite (CON), widely regarded as the first Chartered Insurance […]
Nigerians spend N47.67bn to insure their lives
Leave a comment and share Chuks Udo Okonta About N47.67 billion was spent in 2018 on life insurance cover by people living in Nigeria, Inspenonline has learnt. Data obtained from the Nigerian Insurers Association (NIA) published Nigeria Insurance Digest 2018 revealed that N47.347 billion was spent on buying group life […]
