Firm becomes Zenith-Prudential Life Insurance British insurer Prudential said it had bought a majority stake in Nigeria’s Zenith Life to give it access to the African country’s fast-growing insurance market. It said it had also signed a deal with the Nigerian insurer’s parent Zenith Bank Plc to sell life and […]
Insurance
Insurers pay N147.5m claims on armed robbery attacks
Leave a comment and share Chuks Udo Okonta Insurance companies paid over N147.5 million claims on losses incurred from armed robbery attacks in 2015, Inspen has learnt. According to the Nigerian Insurers Association (NIA), most of the claims were paid to banks across the nation. The largest claims amounting to […]
Standard Alliance Life, ARM Life others shareholders’ funds plummet
Leave a comment and share Chuks Udo Okonta Thirteen insurance companies urgently need to raise their shareholders’ funds to remain afloat, Inspen Can report. The most affected firms according to the Nigerian Insurers Association (NIA) in its 2015 Nigeria Insurance Digest are: Standard Alliance Life Company Limited, which had N827,06 […]
NAICOM approves Guinea Insurance 2016 accounts
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has approved 2016 financial accounts of Guinea Insurance Plc, the Executive Director, Finance and Administration, Pius Edobor has said. According to him “The approval was contained in a letter signed on behalf of the Commission by its […]
NSE lifts suspension placed on shares of Sovereign Trust Insurance
Soyinka Leave a comment and share Chuks Udo Okonta The Nigerian Stock Exchange, (NSE) has unequivocally lifted the recent suspension it placed on trading of Sovereign Trust Insurance Plc shares. In a release issued by the Exchange on July 11, 2017 and signed by the Acting Head, Listings Regulation Department, […]
27 insurance companies have less than 1% market share – Report
Leave a comment and share Chuks Udo Okonta Twenty seven out of the 56 insurance companies presently engaged in underwriting business are relatively known by the public as they have less than one per cent of the industry’s market. According to the 2015 Nigeria Insurance Digest, published by the Nigerian […]
Theresa May to spend aid money on insurance against disasters in Africa
PM tells G20 that plan is to spend £30m over four years on private insurance policies to reduce need for humanitarian aid People fetch water at a refugee camp in Somalia at Doolow, a border town with Ethiopia. Humanitarian agencies estimate that 6.2 million drought-affected Somalis are in need of […]
IGI names new management as Bayo Folayan emerges acting Managing Director
Leave a comment and share Chuks Udo Okonta Industrial And General Insurance Plc (IGI) has announced the appointment of a new management, to be led by Bayo Folayan, who was named the acting Managing Director. A statement by the Head, Corporate Communications, of the firm, Steve Ilo, said the appointments […]
NIA intensifies moves to launch portal for sales of third party motor policies
NIA Chairman, Eddie Efekoha Leave a comment and share Chuks Udo Okonta Insurance industry’s unified platform for the sales of third party motor insurance code- named: Nigerian Insurance Industry Portal (NIIP), which ought to be launched by July 1, 2017 has been moved to an unspecified date, Inspen can report. […]
Sovereign Trust Insurance grosses N4.1bn in Q1 2017
Olaotan Soyinka, Managing Director/Chief Executive Officer, STI Plc Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc said its total gross premium written grew from N2.3 billion in the first quarter of 2016 to N4.1 billion in 2017 representing a 78 per cent growth rate and the […]
