NIA Chairman, Eddie Efekoha Leave a comment and share Chuks Udo Okonta A group has called on internal auditors of insurance firms to be bold in engaging senior management to stem the unethical practices prevailing the industry. The call was parts of the takeaways of the annual seminar organised by […]
Insurance
Growing number of global insurance firms divesting from fossil fuels
Report shows around £15bn of assets worldwide have been shifted away from coal companies in the past two years as concern over climate risk rises By Jonathan Watts A growing number of insurance companies increasingly affected by the consequences of climate change are selling holdings in coal companies and refusing […]
Insurers task NAICOM to purge industry of unethical practices
Kari Leave a comment and share Chuks Udo Okonta Insurers under the Risk Management and Compliance Committee of the Nigerian Insurers Association (NIA) have tasked the National Insurance Commission (NAICOM) to purge the insurance industry of unethical practices to redeem its image. The Committee in a report presented to the […]
Insurance: FG Targets N1trn Annual Premium
Kari By ZAKA KHALIQ The federal government has set a target of N1 trillion annual insurance premium by the year 2020 LEADERSHIP can exclusively report. It is gathered that the government is partnering the 36 states of the federation, including the Federal Capital Territory (FCT), to meet the target. Insurance […]
Dearth of products threaten micro insurance business
Gbadebo Leave a comment and share Chuks Udo Okonta The Micro Insurance Committee of the Nigerian Insurers Association (NIA) has raised concern over inadequate micro insurance products in the market. In a report submitted to the association, the committee said there is urgent need for capacity building so as to […]
N1trn target: Insurers discount 80% revenue
Leave a comment and share Chuks Udo Okonta Insurance operators would have scaled through their N1 trillion premium target, if not that they gave out 80 per cent of their revenue as discount, Inspen has learnt. The Chairman, Mutual Benefits Assurance Plc, Akin Ogunbiyi, who stated this at a forum […]
Transferring risks to insurance Market ‘ll free govt. funds for developmental projects – Tinubu
Tinubu Leave a comment and share Chuks Udo Okonta The President, Nigerian Council of Registered Insurance Brokers (NCRIB), Shola Tinubu, has called on federal, state and local governments to transfer their risks to the insurance market to enable them free funds for other developmental projects. He disclosed this when he […]
Equity Assurance unveils mobile USSD solution to deepen motor insurance
From left: Karim-Franck Dione, Executive Director, Strategy and Performance; Leke Hassan, GM, Business Development and Sales; Abba Kyari Bukar , chairman; Moruf Apampa, Managing Director/CEO; and Samuel Ogbodu, Executive Director, Technical, all of Equity Assurance Plc during the launch of Equity USSD Mobile Insurance Solution in Lagos. Leave a comment […]
UK financial services watchdog to investigate wholesale insurance brokers
(Reuters) – Britain’s financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has complained of “abusive behavior”. The Financial Conduct Authority said on Monday it would publish the terms of reference for the review […]
U.K. Non-Life Market Remains Well-Capitalised Despite Reserve Strengthening for Personal Injury Claims
LONDON, UK – NOVEMBER 2017 – The U.K. non-life market remains well-capitalised overall, in spite of widespread reserve strengthening associated with the reduction in the discount rate for personal injury compensation. A.M. Best’s analysis of the largest 100 U.K. insurers by non-life gross premium income shows that the average solvency […]
