The Munch Re’s report for 2016 has indicated that countries across the world suffered natural disasters to the tune of $175billion (N54.3trillion) in 2016. Out of this figure, only $50billion (N16trillion) was covered by insurance industry. The details show that earthquake on Japan’s southern Kyushu Island caused $31billion (N9.6 trillion) […]
Insurance
Africa Re supports Agricultural Insurance Project in Senegal
Africa Re confirms its position as leader and pioneer in the area of reinsurance in Africa by supporting an agricultural insurance project in Senegal As part of a project initiated and managed by the West African Development Bank (BOAD), the National Agriculture Insurance Company of Senegal – Compagnie Nationale d’Assurance […]
Firm unveils software solution to preposition insurance business
Abiodun Atobatele, CEO., ATB Techsoft Solutions (left), with Oluwawemimo Adeniyi, Director, Small Mid-Market Solutions and Partners Group, Microsoft Nigeria, during the media launch of four unique solution offerings of ATB in Lagos. Leave a comment and share Chuks Udo Okonta ATB Techsoft Solutions Limited, an Information Technology and Software development […]
Distribution channels will deepen insurance penetration-NAICOM
The National Insurance Commission (NAICOM) on Thursday, said that the introduction of distribution channels would help in deepening insurance penetration in the country. Rasaaq Salami, Head Corporate Affairs of NAICOM, said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja. Salami said that the […]
Businesses in Nigeria worried about struggling economy, corruption
Press Release • The biggest threats to Nigeria are market volatility and corruption. • Political risks and violence is still a major challenge largely due to terrorism and kidnap for ransom. • Cyber risk concerns rank fifth in Nigeria driven by impact of indirect attacks, regulatory threats and technical and […]
NAICOM refers African Alliance Insurance 2015 account to FRC
CFI, Mohammed Kari Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has referred the 2015 account submitted by African Alliance Insurance Plc to the Financial Reporting Council (FRC) for clarifications of some issues. Head, Corporate Affairs NAICOM, Rasaaq Salami, said the account was referred in […]
Most unquoted insurance firms are fringe players – Report
Leave a comment and share Chuks Udo Okonta Eleven out of the 18 unquoted insurance companies in the country presently occupy bottom of the industry’s business pyramid, a report has revealed. According to the report which detailed the market share of each underwriting firm, these unquoted firms have less than […]
Journalists group backs media insurance covering war zones
The International Federation of Journalists is helping set up a new insurance scheme that also seeks to cover media workers in war zones where insurance can be hard to come by or very expensive. The IFJ, which represents 600,000 members in 140 countries, announced its backing Tuesday for the scheme […]
Insurers To Increase Vehicle Rates, Target N16bn Premium
With the double digit inflation and naira devaluation affecting the prices of goods and services across the country, the owners of the 16 million vehicles plying Nigeria’s roads will have to pay N16 billion more to either purchase or renew their third party motor insurance policies in the current year, […]
Trump vows ‘insurance for everybody’
President-elect Donald Trump said in a weekend interview that he is nearing completion of a plan to replace President Barack Obama’s signature health-care law with the goal of “insurance for everybody,” while also vowing to force drug companies to negotiate directly with the government on prices in Medicare and Medicaid. […]
