Leave a comment Chuks Udo Okonta SAHAM Unitrust Insurance Nigeria Limited, in a bid to extend the frontiers of its operation, break new grounds and foster relationship with insurance brokers, will be playing host to Nigerian Council of Registered Insurance Brokers (NCRIB) Members in the month of June edition of […]
Insurance
Royal Exchange posts N12.5bn gross premium income
Muktari Leave a comment and share Chuks Udo Okonta Royal Exchange Plc, said it generated a Gross Written Premium (GWP) of N12.5 billion in 2016, representin an increase of 16 per cent over the figure of 2015, which stood at N10.8 billion. The Group Managing Director, of the underwriting firm, […]
Property Insurer Expects London Fire Payouts to Exceed 25 Million Pounds
This week’s fire in a 24-storey block of flats in London is expected to cost property insurers more than 25 million pounds ($31.8 million), Norwegian insurer Protector Forsikring told Reuters on Thursday. The company expects the cost to be covered mainly by its reinsurance program. “Reinsurance is handled by Munich […]
UK car insurers saw losses of £3.5bn in 2016 due to new compensation rules
Cut in compensation for serious injuries will see insurance premiums rise, with young drivers the worst hit, says a report By Julia Kollewe Britain’s car insurers suffered combined losses of £3.5bn last year due to controversial new compensation rules for serious injuries, according to a report which predicts further sharp […]
AIG teams with IBM to use blockchain for ‘smart’ insurance policy
By Suzanne Barlyn Insurer American International Group Inc (AIG.N) has partnered with International Business Machines Corp (IBM.N) to develop a “smart” insurance policy that uses blockchain to manage complex international coverage, the companies said on Wednesday. AIG and IBM completed a pilot of a so-called “smart contract” multi-national policy for […]
NAICOM approves 33 firms’ queried Standard Alliance 3 others
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has approved the 2016 financial accounts of 32 insurance firms and one Reinsurance. According to the status of financial statements of insurance companies as at 13, June 2017, made available to Inspenonline by NAICOM, 41 firms have […]
Leadway Assurance grosses N52.7bn, pays N23bn claims
.Announces appointment of new directors Leave a comment and share Chuks Udo Okonta Leadway Assurance Company Limited, said its assets grew from N137.3 billion 2015 to N166 billion in 2016. Gross Premium Income (GPI) also rose by 13 per cent from N46.6 billion to N52.7 billion, an increase largely attributable […]
NAICOM endorses approval of four insurers to sell annuity
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) says it is comfortable with the approval granted to four insurance companies to sell annuity. Head, Corporate Affairs NAICOM, Rasaaq Salami, told Inspenonline that the four companies received the blessings of the commission. The National Pension Commission […]
Mutual Benefits posts N10.7bn underwriting income in 2016
. Pays N3.3bn claims Mutual Benefits Assurance Plc, grew its underwriting income by 27 per cent from N8.3 billion to N10.7 billion in 2016, despite the challenging economy and consumer apathy towards insurance. A statement by the firm’s Head, Corporate Communication, Ellen Offo, stated that this was revealed in the […]
Cross River Govt. partners brokers on assets, investments
Governor Ayade Leave a comment and share Chuks Udo Okonta Cross River State Government has pledged to patronise insurance brokers in the insurance of its numerous assets and investments to sustain the state’s economic growth. The Executive Governor of the State, Professor Benedict Ayade, made the promise while declaring open, […]
