By Madelaine B. Miraflor Fitch Ratings said automotive insurance industry must prepare for the world’s increasing adoption for driverless cars. In a statement, Fitch said the widespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long term as liability shifts towards manufacturers and the traditional […]
Insurance
Mutual and Federal now known as Old Mutual Insure
Lesetja Malope Mutual and Federal is now known as Old Mutual Insure The oldest short term insurer in the country, Mutual and Federal, has officially changed its name to re-align itself with its holding company and hopefully increase its market share. The company is now known as Old Mutual Insure, […]
Continental Reinsurance grosses N22.41bn in 2016
Oyetunji Leave a comment and share Chuks Udo okonta Continental Reinsurance Plc has announced its 2016 audited year-end results which show an increase of 60% in profit before tax from N2.92billion in 2015 to N4.65billion. Gross premium income at N22.41billion is 14% higher than the N19.74billion reported in 2015. In […]
South Africa: Credit Life Insurance Regulations to Come Into Effect in August
Pretoria — The credit life insurance industry has until August 2017 to align with the final Credit Life Insurance Regulations, the Department of Trade and Industry (dti) said on Tuesday. Issuance of the regulations is a sequel of Parliament’s and Cabinet’s decision that household over-indebtedness should be curbed. Trade and […]
Old Mutual to list R110bn firm
The new locally based business will be part of the group’s separation By HILARY JOFFE Trevor Manuel. Picture: SUNDAY TIMES The South African-based emerging markets business Old Mutual will list on the JSE in 2018 as part of its managed separation could ultimately be worth R100bn to R110bn, making it […]
NIA Assures Claims Settlement Within 90 Days
Efekoha The National Insurance Commission (NAICOM) will withdraw the licence of any insurance company that will fail to settle claims to policyholders within 90 days. The Chairman of the Nigeria Insurance Association (NIA), Mr Eddie Efekoha, in Lagos on Wednesday said that the industry was determined to sustain its credibility. […]
N300m insurance rebranding project hits by cash crunch
From left: Head Corporate Affairs, National Insurance Commission (NAICOM) ‘Rasaaq ‘Salami; Vice Chairman Sub Committee Publicity of the Insurers Committee, Ebelechukwu Nwanchuku and Chairman Sub Committee on Publicity and Communication of the Insurers Committee Hassan Oye-Odukan at an event. Leave a comment and share Chuks Udo Okonta All seemed not […]
CBO: 24 million would lose health insurance under GOP plan
But Republicans point to savings of $337 billion through 2026 By Dan Freedman Photo: Michael P. Farrell The long-awaited Congressional Budget Office analysis of the GOP’s Obamacare replacement painted a grim picture of America’s health care system if the measure becomes law, projecting 24 million would lose insurance by 2026. […]
Insurer advocates N100bn capital base for industry
Aig-Imoukhuede, By Ediri Ejoh THE Chairman of Wapic Insurance Plc, Mr. AigbojeAig-Imoukhuede, has called for increase in the capital base of insurance companies in the country to N100 billion. Aig-Imoukhuede, who called for the increment at the KPMG Insurance Conference 2017 held in Lagos, said the current capital base does […]
Nigerian Re, Continental Re scramble for 30% reinsurance business
Leave a comment and share Chuks Udo Okonta Nigerian Reinsurance Plc, WAICA Reinsurance and Continental Reinsurance Plc, are presently scrambling for 30 per cent of Nigerian reinsurance business, Inspen has learnt. According to an expert who does not want to be named, Africa Re is dominating the market with controlling […]
