Airtel Payments Bank plans to tie up with insurance companies and non-banking financial companies (NBFCs) in the future to offer insurance and credit facilities, a company official said on Thursday. “As per the Reserve Bank of India’s guidelines, payments banks are not allowed to lend, but it can offer third […]
Insurance
AIG sees uncertainty in ‘too-big-to-fail’ label for insurers-filing
By Suzanne Barlyn Insurance giant American International Group sees “considerable uncertainty” about U.S. regulations that deem non-bank financial institutions as being too big to fail, given the recent change in White House administrations, according to a filing. The “appropriateness and federal regulation” of non-bank too-big-to-fail institutions may also be questioned, […]
Associations Launch Code To Boost Consumer Confidence In Insurance, Takaful Industry
By Nurunnasihah Ahmad Rashid The Code of Practice on Personal Data Protection Act (PDPA), launched, is expected to further boost the consumer confidence in the integrity of the insurance and takaful industry. The code is an initiative by three associations — Life Insurance Association of Malaysia (LIAM) Persatuan Insurance Am […]
South Africa’s Liberty to buy 75 pct stake in UNIC insurance for $12m
South Africa’s Liberty Holdings will acquire a 75 percent stake in a Nigerian long-term insurer, UNIC Insurance Plc for 160 million rand ($12 million), the company said on Friday, pursuing its strategy of expanding in the region. Liberty has been expanding beyond its home base to parts of Africa, where […]
Self-driving cars must be covered by insurance, says UK bill
Media captionWatch: Driverless cars are already being tested in the UK Insurance cover for self-driving cars must offer protection for both times when the driver is in control and when the vehicle is in charge, according to new proposals from the UK government. The measures are outlined in the Vehicle […]
Allianz launches operations in Morocco
By Louie Bacani Not too long after insurance giants RSA and Aon announced their expansion moves in Africa, another industry heavyweight has increased its presence on the continent. Major insurer Allianz has officially entered the Moroccan market with the launch of a new company. Allianz Maroc began its operations on […]
Taxation Of Insurance Business – Restating The Case For Legislative Review
Article by Deloitte Nigeria One of the major objectives of the National Tax Policy (NTP) is to ensure fairness and equity, in order to imbibe a tax culture where taxpayers are regarded as the custodians of our commonwealth and enhance the Nigerian business environment. With such laudable goals, the question […]
Political Instability and Financial Volatility Remain Key Headwinds for Italian Insurers
LONDON, UK – FEBRUARY 2017 – Italy’s volatile financial and political environment will pose challenges for the domestic insurance sector in 2017, principally due to the potential impact on investment portfolios, according to A.M. Best. In a new Best’s Briefing, titled, “Political Instability and Financial Volatility Remain Key Headwinds for […]
PFAs Invest N482 Billion of Pension Assets in Equities Market
By Goddy Egene The value of pension assets invested in the Nigerian equities market rose to N481.8 billion at the end of November, up from N445.88 billion in January 2016. The assets under management of the Nigerian pension industry stood at N6.02 trillion as at the end of November, according […]
A New Risk Sharing Facility to Lower Premiums for Africa’s Farmers
The World Bank Group’s Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) have entered into an agreement to carry out a risk-sharing facility, in form of an experience account, to decrease premium levels for insured farmers and encourage local companies to create affordable insurance products. “Agriculture provides […]
