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 […]
Insurance
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 […]
Uk insurer RSA expands coverage in Africa
UK insurer RSA has extended its partnership with the Africa-based insurance network Globus to five more territories in the region. Headquartered in Douala, Cameroon, Globus is an insurance network comprising members in 46 countries in Africa. The partnership will enable RSA Global Network to provide insurance services to customers with […]
KPMG: Consolidation Will Transform Insurance Sector
Nume Ekeghe The Partner Audit Services and Insurance Sector, KPMG, Mr. Kabir Okunlola has said that a consolidation exercise for the insurance sector would help increase investor appetite and generally transform the industry. Okunlola, who made the remark in an interview with THISDAY on Monday, revealed that the federal government […]
Benue Assembly Issues Warrant Of Arrest On NICON Insurance Company
By Hembadoon Orsar, Makurdi In line with section 129 (d) of the 1999 constitution of the federal republic of Nigeria as amended, the Benue State House of Assembly, has yesterday issued a warrant of arrest against the management of NICON insurance company for refusing to appear before it for the […]
African Insurance Awards 2017
Press Release The African Reinsurance Corporation (Africa Re) is pleased to announce entries for the third edition of the prestigious African Insurance Awards. This is an opportunity to celebrate CEO’s and the performance of companies over the past year. In line with its purpose, Africa Re initiated these awards to […]
Insurers, motorists disagree over proposed N20,000 on third party policy
By Bankole Orimisan Motorists in Nigeria are vehemently opposed to the proposal to increase Third Party Motor Insurance policy from the current N5,000 premium to N20,000, above workers’ minimum wage, The Guardian has learnt. The proposed increase is coming at a time Nigerians are still battling with recession that has […]
Global Insurers targets $14bn cyber risks by 2022
By Favour Nnabugwu WITH the global cyber insurance market expected to reach $14 billion by 2022, according to Allied Market Research, Nigerian insurers appear not yet ready to take on the market though they desire its development. The National Association of Insurance Commissioners in a statement weekend weighed in on […]
Fed Govt owes 105, 920 retirees N705b, says PenCom
The Federal Government owes 105,920 retirees about N705 billion, the National Pension Commission (PenCom), has said. It urged the National Assembly to intervene by appropriating the needed fund to enable the government to meet up its obligations to its former employees. In a memorandum submitted by the Director-General, National Pension […]
