By Song Jingli Wei Yingning, former vice-chairman of China Insurance Regulatory Commission, delivers a speech at the launch ceremony of the China Insurance and Pension Fund Research Center at the PBC School of Finance at Tsinghua University on Nov 20, 2016. [Photo provided to chinadaily.com.cn] China is likely to surpass […]
Insurance
China’s online insurance sales surge in 2015
BEIJING – With more Chinese managing their wealth online, insurance policies sold via the Internet more than doubled in China last year. The combined premiums of insurance policies sold online totaled 223.4 billion yuan ($32.5 billion) in 2015, jumping 160 percent from 2014, said an industry report released Sunday by […]
NAICOM forecloses bailout for ailing firms
By Bankole Orimisan Following the financial crisis weighing down the fortunes of some insurance companies in Nigeria, the National Insurance Commission (NAICOM), the industry regulator has foreclosed the possibility of assisting them financially through a bailout to save it from collapse. The regulator said the insurance law did not make […]
Insurance Sector Loses N240bn To 8m Uninsured Automobiles
ZAKA KHALIQ The insurance industry has lost a whopping N240 billion premium income from the non-insurance of an estimated eight million tricycles and motorcycles which ply Nigerian roads, over a period of 6 years, from year 2010 to 2016, LEADERSHIP investigation has revealed. This figure, according to findings, is only […]
Committee tackle NAICOM over cumbersome reporting procedure
Leave a comment and share Chuks Udo Okonta The Risk Management and Compliance Committee of the Nigerian Insurers Association (NIA) says the cumbersome report formats issued by the National Insurance Commission (NAICOM) is responsible for delays in submission of companies reports. The committee said this in a report presented to […]
Foreign entrants drive sales of personal line insurance – NAICOM
Leave a comment and share Chuks Udo Okonta The advent of foreign players in the insurance industry has brought a shift from wholesale insurance to personal-line products, Inspen can report. The Commissioner of Insurance, Mohammed Kari, said this at a forum organised by the Nigerian Council of Registered Insurance Brokers […]
Obesity, a ground for claim dismissal at some insurers
‘Swindlers list’ aimed at cutting insurance fraud
By Charlie Weston Eoghan Murphy Photo: Tom Burke The Government is looking at setting up a new database of fraudulent personal injury claims, a sort of swindlers’ list. This would record all those who have made claims which have raised suspicions. It would be shared between the insurance industry and […]
AfDB President calls for insurance of African
Adesina Africa needs urgent global assistance to meet up with insurance premiums which will insure countries against climate change induced catastrophic events which is on the rise. The insurance which will reduce climate induced displacement across the African continent and help curb the diversion of public funds which could have […]
NIA takes annuity battle to National Assembly, Minister of Finance
From left: Chairman, Technical Committee, Insurance Consumers Association of Nigeria, Adewale Adetoro; Director-General, Nigerian Insurers Association, Sunday Thomas and Chief Executive Officer, JSP Communications, Dr. Phil Osagie at the event. Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) has taken its battle with the National […]
