Mrs Ashaye Leave a comment and share Chuks Udo Okonta We are presently on a drive to achieve an additional 3,000 members for the Institute within the next one year, the President, Chartered Insurance Institute of Nigerian (CIIN) Mrs Funmi Babington-Ashaye, has said. She disclosed this today at a media […]
Insurance
Law Union & Rock Insurance pays N1.25bn
From left: Olayiwola Olabisi, Chief Financial Officer; Mrs. Eyoanwan, Head, Human Capital Management; Olasupo Sogelola; Executive Director, Technical & Operations; Mrs. Olufolake Afolabi, Chief Technical Officer; Steve Ajudua; Chief Marketing Officer Law Union & Rock Insurance Plc at the event. .Wins awards Leave a comment and share Chuks Udo Okonta […]
Insurance firms to be rattled by RBS, as NAICOM is set to unveil new capital
Leave a comment and share Chuks Udo Okonta As the National Insurance Commission (NAICOM) plans to move to the next phase of implementation of the Risk-Based Supervision (RBS) which is determining the capital requirements for underwriting risks, 16 firms which shareholders’ funds are below or slightly above the statutory capital […]
Insurers agree on sharing formula for multi-million rebranding project
Members of Insurers’ Committee at the event Leave a comment and share Chuks Udo Okonta Insurance operators have agreed to raise 50 per cent of the funds for the industry’s rebranding project from companies gross premium income, and the balance 50 per cent, shared evenly amongst themselves. Addressing Journalists, today […]
Insurance firms need bold internal auditors – Group
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 […]
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 […]
