With rising competition, customer retention is gaining weight in the design of insurers’ distribution strategies, shifting from customer acquisition which was the focus in previous years , says the stockbroking firm YES Securities (India) [YSL], a wholly owned subsidiary of YES Bank. The traditional channels of agency, bancassurance and brokers […]
Insurance
Insurer launches cover for live virtual events
By Anoop Khanna Specialist insurer Beazley has launched a contingency policy designed to cover event organisers if a transmission failure disrupts or cancels a live virtual event. Beazley said, “Streaming live events is not new but the policy responds to an increase in online events under social distancing during the […]
Insurers’ debt instruments appeal to investors during COVID-19
By Paul McNamara Even though the coronavirus pandemic has brought about higher credit spreads during 2020, the flight to quality has meant that insurers across the globe have retained good market access at favourable rates. Insurers should be able to redeem or refinance the $140bn or 20% of total outstanding […]
Mutual Benefits Assurance nets N3.61bn profit, pays N21bn claims in 2019
Asenuga Leave a comment and share Chuks Udo Okonta Mutual Benefits Assurance Plc has announced its result for the year ended 2019 with profit after income tax of N3.61billion, achieving a 214 per cent increase from N1.15 billion recorded in 2018. Its Head, Corporate Communication, Ellen Offo, noted that according […]
FBN General Insurance writes N7.31bn premium in 2019
Opadokun Leave a comment and share Chuks Udo Okonta FBN General Insurance Limited, at its 4th Annual General Meeting (AGM)which held recently, presented its 2019 audited Annual Report and Financial Statement to its Board of Directors. While presenting the Annual Report and Financial Statement during the virtual Meeting, the Managing […]
COVID-19 to hurt business until next year: Africa Re
The COVID-19 pandemic is likely to affect the business of Africa Re for the rest of 2020 and into 2021, according to Mr Corneille Karekezi, CEO of the reinsurer. He added that it could take months before the insurance industry can fully understand the impact of the pandemic on its […]
Ministry develops aquaculture micro insurance for fish farmers
The Marine Affairs and Fisheries Ministry has developed aquaculture micro insurance for fish farmers to minimize the risk of aquaculture businesses. “The protection scheme for fish farming under the aquaculture micro insurance in Indonesia will be expanded next year, not only for fresh water and brackish water fish farming, but […]
I have achieved the “Insurance first” slogan of my agenda – NIA Chairman, Smart
Smart Leave a comment and share The Chairman, Nigerian Insurers Association (NIA) Tope Smart in this interview highlighted the achievement recorded by his administration and other sundry issues shaping the insurance industry. Chuks Udo Okonta reports. You came into the leadership of NIA when the industry was under trial in […]
Insurance giant Lloyd’s of London, Pub chain Greene King apologise for slavery links
The two companies will make donations to black and minority ethnic groups. Credit: PA Two of the UK’s largest companies have apologised for their historic links to the slave trade. Pub chain Greene King and insurance market Lloyd’s of London have also vowed to devote large sums to projects assisting […]
Positive post-COVID mood in London Insurance Market
By Anoop Khanna Members of the London chapter of Professional Liability Underwriting Society (PLUS) are generally upbeat about the post coronavirus prospects of the London insurance market. About 100 members of PLUS (from London and North America) met online on 18 June 2020, and debated the question “To what extent […]
