From left: Deputy President, Nigerian Council of Registered Insurance Brokers, Shola Tinubu, President, Kayode Okunoren and Managing Director, Linkage Insurance Plc, Pius Apere at the event in Lagos. Determined to increase its market share and compete effectively for growth, Linkage Assurance Plc has moved to strengthen its relationship with insurance […]
Insurance
Government cuts discount rate: Insurance sector says “crazy” decision will cost the industry billions
The UK’s insurers were left reeling this morning after the government announced changes to a key insurance sector discount rate, costing them hundreds of millions of pounds Direct Line said annual profits for 2016 would be cut by up to £230m, while motor insurer Admiral estimated it will take a […]
Separation from UK business will not affect Ghana operations – Barclays Africa assures
Barclays Africa says the focus and strategy of its subsidiaries in Ghana and others in the continent will not be affected despite separation from its UK business. Barclays Africa Group announced that it has agreed on terms for operational separation with UK-based Barclays PLC, which is reducing its shareholding in […]
A.M. Best Assigns Credit Ratings to FAIR Oil & Energy Insurance Syndicate
A.M. Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb+” to FAIR Oil & Energy Insurance Syndicate (FOEIS) (Bahrain). The outlooks assigned to these Credit Ratings (ratings) are positive. FOEIS is one of the four reinsurance vehicles formed by the Federation […]
Nigerian insurance market bigger than South Africa’s – Old Mutual
By Michael Eboh Old Mutual Insurance has disclosed that the Nigerian insurance market is far bigger than the South African and Ghanaian insurance markets. Speaking in an interview in Abuja, during the relocation to a new office space in the Federal Capital Territory, FCT, Mr. Zomunoda Chizura, Chief Executive Officer, […]
Cornerstone Insurance, three others pay N24.9m fine
African Alliance Insurance Plc, Cornerstone Insurance Plc, Equity Assurance Plc and Great Nigeria Insurance Plc have paid a total fine of N24.9 million fine to the Nigerian Stock Exchange (NSE) for filling their audited and interim financial statements after the expiration of the regulatory due date of March 31, NSE […]
NAICOM shutdown website for maintenance
Kari Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has shutdown its website to carry out routine maintenance, Inspen has learnt. Visitors to the website for the past one week have not been able to access the site, a development that has denied them necessary […]
Linkage Assurance hosts NCRIB Members’ evening
Apere Leave a comment and share Chuks Udo Okonta Linkage Assurance Plc will be hosting the forthcoming Nigerian Council of Registered Insurance Brokers (NCRIB) interaction forum tagged members’ evening that would attract over 500 Managing Directors of Insurance Brokering firms and other stakeholders in Nigeria Insurance Industry. A statement by […]
NICON Insurance moves to resolve N26m claims feud with legislators
Leave a comment and share Chuks Udo Okonta NICON Insurance Plc, has initiated moves to resolve the N26 million claims dispute with Benue State House of Assembly, which had mandated the Nigerian Police to arrest the Managing Director of the underwriting firm, Bayode Samuel. Benue State House of Assembly, had […]
National Insurers in the United Arab Emirates Back in the Black
LONDON, UK – FEBRUARY 2017 – After an extremely challenging year of underwriting and investment losses for many market participants during 2015, the United Arab Emirates (UAE) insurance market has swung back into the black in 2016. The market has endured regulatory upheaval in the past year, and also encountered […]
