By Cynthia Ang US health insurers will experience an increase in medical claims with the spread of the coronavirus, driven by at-risk patients such as the elderly and those with pre-existing conditions, said AM Best in a report. In its report, ‘Potential Rise in Claims Due to Coronavirus’, the rating […]
Insurance
African Alliance presents 26 awards to deserving sales executives
From left: Victor Peters, Head, Agency Operations; Funmi Omo, MD/CEO; Mary Akwamanti, gold trophy winner, overall best Agency in first year premium; Olabisi Adekola, Executive Director, Finance; and Bode Raji, Head, Finance all of African Alliance at the company’s annual Agency awards held recently. Leave a comment and share Chuks […]
European insurers well positioned to manage coronavirus risk – AM Best
By Ahmad Zaki The coronavirus (COVID-19) could potentially put the balance sheet of European insurers under stress, although the biggest impact is likely to come from the ensuing economic fallout rather than from direct exposure to the virus. AM Best in its latest report stated that it expects the European […]
Japan: National insurance now covers coronavirus testing
By Ranamita Chakraborty Despite confirming over 500 coronavirus cases to date, Japan faces rising concerns that the real number of cases in the country is widely under-reported. Hence in an effort to increase testing and improve reporting of cases, its national health insurance (NHI) system is now covering coronavirus screenings […]
How NAICOM rejected operators’ lobby on admissibility of properties in recapitalisation
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has disclosed how some insurance operators engaged the services of a consultant to pressure it into lowering rules on non-admissibility of properties as assets in the ongoing recapitalisation exercise. The Acting Commissioner for Insurance, Sunday Thomas, who […]
Insurance operators celebrate Lady Isioma Chukwuma as she graciously retires
From left: The President/Chairman, Governing Council, CIIN Eddie Efekoha presenting a gift to Lady Chukwuma Leave a comment and share Chuks Udo Okonta Insurance operators from different arms of the industry today gathered to celebrate the past President/Chairman, Governing Council, Chartered Insurance Institute of Nigeria (CIIN) and former Managing Director/Chief […]
AIICO sailing safely to recapitalisation harbour
From left: Chairman, Kundan Sainani; Managing Director/CEO, Babatunde Fajemirokun; Non-Executive Director, Ademola Adebise; Non-Executive Director, Miss. Folakemi Fajemirokun all of AIICO Insurance Plc at today’s Extra-Ordinary General Meeting in Lagos. Leave a comment and share Chuks Udo Okonta AIICO Insurance Plc. has recorded an extraordinary success in its recapitalisation journey […]
FBNInsurance wins 2019 World Finance Global Insurance Award
Leave a comment and share Chuks Udo Okonta From left: Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah; Chairperson, FBNInsurance, Adenrele Kehinde and Producer, World Finance, Paul Richardson, during the presentation of the Best Life Insurance Company in Nigeria Award to the FBNInsurance Directors by the World Finance held in […]
Staco Insurance Plc sacks 28 staff
Leave a comment and share Chuks Udo Okonta Staco Insurance Plc., has sacked 28 members of its staff, Inspenonline has learnt. According to industry watches, the firm has been battling with payments of claims, salaries and commissions to brokers and agents. The observers believed the firm might have sacked the […]
NAICOM inaugurates working group for seamless adoption of IFRS 17 by Jan. 2022
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) today, Monday, inaugurated the Insurance Industry Financial Reporting Working Group (IIFRWG), an advisory and consultative team it constituted for the purpose of seamless adoption of International Financial Reporting Standards (IFRS)17 in Nigeria. The Acting Commissioner for Insurance, […]
