NIA Chairman, Eddie Efekoha By ZAKA KHALIQ Nigeria’s insurance industry is losing a whopping N60 billion on a yearly basis as only 25 per cent of vehicles on Nigerian roads have genuine 3rd party motor insurance policy, LEADERSHIP exclusively learnt. This is aside hundreds of billions of Naira the industry […]
Insurance
AXA CEO: Rumored Generali Takeover ‘Makes No Sense At All’
French insurer AXA has no plans to merge with large rivals, its chief executive told a German newspaper, responding to recent speculation about a possible takeover of Italian peer Generali. “That makes no sense at all,” Thomas Buberl told Sueddeutsche Zeitung, adding that taking over large rivals would require too […]
Car insurance premiums set to rise to over £700 in 2016, report warns
Average car insurance premiums are set to rise beyond £700 by the end of 2016, a new report warns. A combination of rising repair bills and insurance scams are among the reasons higher costs are being passed on to motorists, according to Comparethemarket.com. The price comparison website’s report found that […]
Haiti to receive US$20-m tropical cyclone insurance payout
A young man walks on a palm tree in front of a house destroyed by Hurricane Matthew, in Croix Marche-a-Terre, in south-west Haiti yesterday. Hurricane Matthew has claimed at least 108 lives in Haiti, Interior Minister Francois Anick Joseph told AFP yesterday. (Photo: AFP) THE CCRIF SPC (formerly the Caribbean […]
Microinsurance venture launched in Zimbabwe
A new insurance firm set up with the help of Bermudian companies to provide microinsurance in the developing world is to launch its first venture in Zimbabwe. And Blue Marble Microinsurance, set up by eight major players, plans to expand the business across the African continent. The Zimbabwe pilot scheme […]
Leadway Assurance seeks partnership with Nollywood
Leadway Assurance Company Ltd. has indicated interest to partner Nollywood on “Production Package Insurance.” Ms Olubusola Makinde, Associate Manager of the company, made the proposal on Wednesday at the ongoing 13th Abuja International Film Festival. The News Agency of Nigeria (NAN) reports that the proposal was contained in a presentation […]
Experts harp on benefits of risk management
From left: Bishop of the Africa Church, Agege, Rt. Rev Hezekiah Adetoro; Ace Broadcaster, Traffic Radio, Victor Oteri; Executive Vice-Chairman, IBN Limited, Prosper Okpue, representative of Manufacturers Association of Nigeria (MAN), Oluwasegun Oshidipe; Author, Jacob Adeosun; Mrs Adeosun and Managing Director FBNInsurance Val Ojumah at the event Leave a comment […]
African non-life premiums stand at $20.4bn
Non-life premiums in Africa amounted to $20.4bn in 2015, according to a report released by consultancy Dr Schanz, Alms & Company. The report found that the $20.4bn represented about 1 percent of global non-life premiums. Net of inflation, the Republic of Congo, Ghana and Kenya recorded the steepest growth of […]
Brexit to push UK insurers into Africa, emerging markets
UK’s terms of departure to affect London’s £60bn insurance market, says Norton Rose Fulbright. Prinesha Naidoo Competition among insurance providers in emerging markets is set to intensify, as the UK’s plans to leave the European Union (EU) hasten London-based insurers’ moves out of Europe. According to Liam O’Connell, a London-based […]
Africa’s reinsurance market expected to grow despite challenges
Africa’s reinsurance markets are expected to benefit from strong underlying growth driven by an expansion of its primary markets with insurance premiums reaching $64 billion. This is according to an annual survey, ‘Africa Reinsurance Pulse’, conducted by Dr Schanz, Alms & Company and facilitated by Africa Re. Based an abundance […]
