President of Nigerian Council of Registered Insurance Brokers Dr. (Mrs.) Bola Onigbogi presenting the items at the event. Leave a comment and share Chuks Udo Okonta The President of Nigerian Council of Registered Insurance Brokers (NCRIB) Dr. (Mrs.) Bola Onigbogi, has led delegation of the Council to donate COVID-19 relief […]
Insurance
African Alliance gets NSE’s nod to extend filing of audited financial statements
Leave a comment and share Chuks Udo Okonta African Alliance Insurance Plc (hereinafter referred to as “the Company”), said it has obtained the approval of The Nigerian Stock Exchange (The Exchange) for extension of time to file its Audited Financial Statements (AFS) for the period ended 31st December, 2019 and […]
UK regulator submits test case on BI cover to high court
The Financial Conduct Authority of UK (FCA) has started proceedings in London’s ‘High Court of Justice’ to seek clarity from the courts on whether the wording of BI policies should provide cover during this pandemic. The national lockdown in the UK to curb the spread of COVID-19 has triggered insurance […]
FBNInsurance delivers outstanding performance, grosses N37.63bn GPW in 2019
Ojumah Leave a comment and share Chuks Udo Okonta FBNInsurance Limited has presented its 2019 audited annual report to its Board at the company’s e-Annual General Meeting (e-AGM) held in Lagos recently recording sustained growth and sterling performance in all business segments. Speaking at the AGM, the Managing Director/Chief Executive […]
COVID-19 not enough reason for non-recapitalisation – Investor
Adeleke Leave a comment and share Chuks Udo Okonta An investor and Managing Director Lancelot Ventures Limited, Adebayo Adeleke, has said insurance and reinsurance companies have no excuse for not recapitalising going by the leverage provided by the National Insurance Commission (NAICOM). Adeleke who is a major player in stock […]
Underwriters must have N323bn recapitalisation fund in escrow account by Dec.31 -NAICOM
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has said the existing 57 insurance and two reinsurance firms must have N323 billion recapitalisation fund, which is 60 and 50 per cent to be raised this year in the escrow account opened for the exercise comes […]
US tech company develops world’s first parametric pandemic insurance product
By Ahmad Zaki Machine Cover, a technology company that creates parametric products for the insurance industry, has announced it is developing what is believed to be the world’s first pandemic insurance product based on parametric triggers. The Boston-based company said the COVID-19 crisis has revealed a critical gap in insurance […]
NAICOM segments recapitalisaton, fixes September 30, 2021 as deadline
Commissioner for Insurance, Sunday Thomas Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has segmented the ongoing recapitalisation process and told insurers and reinsurers to meet 50 and 60 per cent respectively of their minimum paid-up share capital by December 31, 2020 and complete the […]
Sanlam takes 100℅ ownership of FBNInsurance
Val Ojumah, Managing Director, FBNInsurance Limited Leave a comment and share Chuks Udo Okonta South Africa’s largest insurer Sanlam SLMJ.J said on Tuesday it bought out the remaining 65 per cent stake in Nigerian insurance business FBNInsurance Limited it did not already own from First Bank FBNH.LG, deepening its presence […]
COVID-19 could revolutionise London market transactions
By Ranamita Chakraborty The COVID-19 pandemic has thrown a spotlight on the London insurance market’s modernisation efforts and could possibly accelerate some long-awaited changes to the way business is transacted in the market – revealed a new report from credit ratings agency AM Best. According to the agency, the impact […]
