Chairman, Nigerian Insurers Association, Eddie Efekoha Of an estimated Gross Premium Income (GPI) worth N356 billion generated by the insurance industry last year, 28 per cent was paid out as claims to help individuals and businesses to recover from their losses, a report by Agusto & Co has shown. Agusto, […]
Insurance
Govt to Review Group Life Insurance Policy for Civil Servants
By Favour Nnabugwu The federal government has still not payed the N5.4billion premium of its civil servants in the country six months after it was due for renewal. The Head of the Civil Service of the Federation, HOCSF, and the Bureau of Public Procurement, BPP, have selected 20 underwriters and […]
Big names dominate as Nigeria’s insurance sector seeks next growth phase
By BALA AUGIE Nigeria’s insurance sector is dominated by a few big company’s meaning it is increasingly difficult for smaller players to compete and ultimately push the sector to its next growth phase. For instance, recent report have it that African Reinsurance, a Pan African insurance company controls 65 percent […]
AIICO Insurance speaks on alleged unethical activity
From left: Company Secretary, Donald Kanu; Executive a Director,Babatunde Fajemirokun; Managing Director, Edwin Igbiti; Head Retail Business, Sola Ajayi, all of AIICO Insurance Plc during a press conference today in Lagos. Press Release AIICO INSURANCE ADDRESSES ALLEGED UNETHICAL ACTIVITY RECENTLY REPORTED IN THE MEDIA Our attention has been drawn to […]
FBNInsurance declares N3bn profit
FBNInsurance Limited has released its financial report for the year ended 2016 as approved by the industry regulator, National Insurance Commission (NAICOM). According to figures obtained from the published financial statements, the company’s profit before tax (PBT) increased by 70 per cent from N1.8 billion in 2015 to N3.13 billion […]
Trumpcare’s Rx: Unwanted babies and no health insurance | Editorial
Protesters wait to enter Congressman Leonard Lance’s Westfield district office in February, as hundreds rallied there in support of Planned Parenthood and the Affordable Care Act. (Patti Sapone | NJ Advance Media for NJ.com) BY STAR-LEDGER EDITORIAL BOARD eletters@starledger.com The Republican plan to end all federal funding for Planned Parenthood, […]
UAE insurers to raise rates but profits may stay flat
Mahmoud Kassem UAE insurers will get a boost this year from the expansion of mandatory Dubai health coverage and a new nationwide unified motor policy, according to S&P Global Ratings. But while premiums may rise, profitability may be patchy because data on customers is often not always comprehensive enough to […]
Fidelity Bank, Prudential launch insurance solutions for Ghanaians
Executives from Fidelity Bank and Prudential Life at the launch Fidelity Bank Ghana Limited, the largest private indigenous bank in Ghana, and Prudential Life Insurance Ghana, one of the leading insurers in the country, have today launched two innovative Bancassurance solutions to protect Ghanaians. The launch of the Fidelity Education […]
Soaring claims rattle insurers this quarter
Efekoha Leave a comment and share Chuks Udo Okonta Insurance companies are presently fighting hard to cope with the volume of claims besieging their offices, Inspen has learnt. According to a prominent Insurance Agent, the volume of claims filled in insurance firms have double since January this year. He noted […]
UK motor insurance market will shrink by 21 pct by 2040 – BOE
The British motor insurance market will shrink by 21 percent by 2040 due to the introduction of self-driving cars, the Bank of England said in a report on Friday. Self-driving vehicles will account for 80 percent of new sales by 2040, the central bank said in its quarterly bulletin, based […]
