Ahead of planned verification of capital resources of insurance companies by the National Insurance Commission (NAICOM), operators have embarked on reconciliation of asset tittles to enable its inclusion into their books. The exercise is targeted at measuring the true worth of insurance companies in terms of value of assets and […]
Insurance
NAICOM approves 2016 accounts of FBN General, Wapic Life
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) says it has approved the 2016 financial accounts of FBN General Insurance Limited and Wapic Life, out of the 12 insurance firms that had submitted their results. According to status of 2016 financial statements of insurance companies […]
Photos: Faces at AIICO’s international women’s day celebration
NAICOM, NCC agree to reinstate mobile insurance
.Telcos to be licenced as distribution channels Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) and the Nigerian Communications Commission (NCC) have agreed to reinstate the sales of insurance through platforms of telecommunications firms. The agreement, which has paved way for licensing of telcos as […]
Republicans Unveil Obamacare Replacement
The United States House republicans have unveiled a long-awaited plan to replace the signature health care law of former U.S President, Barack Obama, ‘Obamacare’. The proposed legislation replaces income-based subsidies and helps with the cost of premiums with age-based tax credits. The proposal also preserves some elements of the existing […]
Insurance vital, but no magic bullet to fight drought in Africa
By Alex Whiting More developing countries urgently need insurance to cushion their farmers against weather extremes that can worsen poverty, but it is no magic bullet to ward off the escalating impacts of climate change, experts say. The burning question of how to stop drought becoming a major crisis – […]
Premium rates for most classes are still going downhill — COO, Africa Re
Ken Aghoghovbia REINSURANCE around the globe are considering upward review of rates, is Nigeria left out, particularly, Africa Re? Globally the soft market has been on for over a decade largely driven by the lack of significantly impactful catastrophes and increased capital flowing into the market. This trend has not […]
NAICOM boosts insurance education with donations, grants
By Favour Nnabugwu National Insurance Commission (NAICOM) has donated N10million to the Federal Polytechnic Offa, Kwara State to boost the institution’s ICT Centre and a grant of N5.4m for the purchase of insurance textbooks for insurance education. The Commission’s donation is to propagate insurance education and help the sector deepen […]
Recapitalisation: 12 Insurance Firms In Merger, Acquisition Talks
By ZAKA KHALIQ Ahead of the capital verification exercise expected to commence in the next few months in readiness for the Risk Based Supervision (RBS) that will lead the insurance sector to recapitalisation this year, about 12 out of the 58 insurance companies in the country have already commenced recapitalisation […]
Concerns over Non Payment of N5.4bn Premium for Group Life Insurance
By Ebere Nwoji After seven months of consistent but futile efforts to persuade the federal government to pay the N5.4 billion premium for insurance of its employees, insurance sector operators now groan under heavy load of claims but trickle inflow of premium despite the ‘no premium no cover’ regime. The […]
