Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) and National Insurance Commission (NAICOM) would today continue deliberations on how to resolve the impasse on transfer of annuity assets from life insurance companies to Pension Fund Custodians. Inspen gathered that the parties held their first meeting […]
Insurance
43 insurance firms record negative financial results
Leave a comment and share Chuks Udo Okonta Only 13 out the 56 insurance firms in the country, were able to record profits between 2010 and 2014, while 43 others made losses. Worried by the development, observers have called on insurance operators to redouble their efforts in ensuring that they […]
Morocco Among Top 3 Fastest Growing Reinsurance Markets in Africa
Kenya, Nigeria and Morocco are the fastest growing reinsurance markets in Africa, driven by the size and diversity of their economies, a young and growing population and advanced regulatory regimes, Dr. Schanz, Alms & Company said in its yearly survey “Africa Reinsurance Pulse 2016.” The introduction of risk based capital […]
NAICOM woos stockbrokers for insurance distribution
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) in it continuous effort at deepening insurance penetration in the country, yesterday visited the Director- General, Security and Exchange Commission (SEC) Munir Gwarzoto, to intimate him of the need to engage stockbrokers as referral agent in the […]
Inspenonline wins Insurance, Pension Reporting excellence award
Leave a comment and share Chuks Udo Okonta Inspenonline has won an award for Excellence in Insurance & Pension Reporting – West Africa, organised by Corporate Vision Magazine, of the United Kingdom. According to the firm, Inspenonline was chosen owing to its contributions toward insurance and pension in West Africa. […]
FBNInsurance celebrates outstanding performance in 2016
From left: Chairperson, FBNInsurance Limited, Mrs Adenrele Kehinde; Dr Umekwe Odinakachi and Managing Director, FBNInsurance Limited, Val Ojumah at the event in Lagos. Leave a comment and share Chuks Udo Okonta The Management and staff of FBNInsurance Limited and FBNInsurance General Limited on Wednesday rolled out drums to celebrate the […]
Leadway Assurance leads motor insurance business with N18.08bn in 5 years
Leave a comment and share Chuks Udo Okonta Leadway Assurance Company Limited for the past five years has made N18.08 billion from motor insurance, making it the lead underwriter in the business. According to a report obtained from the Nigerian Insurers Association (NIA), the company recorded N3.70 billion in 2010, […]
London’s 328-year old insurance market will move a chunk of its business to Europe post-Brexit
By Will Martin London’s 328-year old Lloyd’s insurance market will definitely create an office somewhere within the European Union and move some of its operations to the continent in reaction to the UK’s Brexit vote. The Financial Times reports that the insurance market, the world’s oldest, has created a shortlist […]
Lloyd’s of London concerned for 2017 after insurance loss
By Carolyn Cohn Underwriters at Lloyd’s of London lost money in 2016, driving the 90-plus syndicates in the insurance market to be more selective in the risks they take on and forcing Lloyd’s to cut its subscription rates. To tackle the downturn in premium rates, insurers would need to review […]
NCRIB boss unveils survival strategy for brokers amid recession
From left: Managing Director, Mutual Benefits Assurance Plc, Segun Omosehin and President, Nigerian Council of Registered Insurance Brokers (NCRIB) Kayode Okunoren at the event. Leave a comment and share Chuks Udo Okonta The President, Nigerian Council of Registered Insurance Brokers (NCRIB) Kayode Okunoren, has said insurance brokers need to be […]
