The Citizen (Dar es Salaam) OPINION By Ludger Kasumuni Dar es Salaam — Tanzania’s insurance market is not growing at the required level due to lack of updated actuarial studies to ascertain market trends for designing new products and techniques of attracting new customers, stakeholder says. President of the Tanzania […]
Insurance
For rejecting claim, insurance firm directed to pay Rs. 15 lakh
The District Consumer Redressal Forum, Hyderabad-lll, on July 25 directed Birla Sun Life Insurance Company Limited to pay a policy amount of Rs. 15 lakh from date of claim till realisation, along with a compensation of Rs. 2 lakh for rejecting the claim “without unjust and valid reasons”. The ruling […]
AIICO launches integrated customer focus contact centre
Leave a comment and share Chuks Udo Okonta AIICO Insurance Plc today launched a new integrated customer-focus contact centre designed to deliver consistent positive experience across all its interactive platforms. Its Managing Director/ Chief Executive Officer, Edwin Igbiti, at the launch in Lagos, said the contact centre is a […]
Experts to brainstorm on creating robust pension benefits for retirees
How to create a robust pension benefits for retirees would be the focus in the 2015 Nigerian Insurance and Pension (Inspen) Awards. A statement by the Chief Executive Office Inspen Media, Chuks Udo Okonta, said experts drawn from insurance and pension sectors would be on hand to seek solution to […]
Why insurers can’t underwrite full travel insurance
Leave a comment and share Chuks Udo Okonta Lack of necessary infrastructure has been identified for insurers’ inability to wholly underwrite travel insurance. According to the Accident Office Committee of the Nigerian Insurers Association (NIA), inadequate infrastructure has forced local underwriters to continue to collaborate with foreign health providers in […]
Continental Reinsurance posts N19.7bn GPI
Leave a comment and share Chuks Udo Okonta Continental Reinsurance Plc reported profit before tax of N2.92billion in 2015, up from N1.59billion the previous year, an increase of 83.61%. its Gross premium income was N19.7billion, up from N16.4billion in 2014. Shareholders’ dividend payout has also grown at an annual growth […]
Insurers having a tough 2016
South Africans are facing tough economic times and are choosing to forgo insurance to cut costs The insurance sector showed overall positive financial results for 2015, but it is uncertain which this trend will continue in 2016, according to the KPMG South African Insurance Industry Survey. Gerdus Dixon, Director and […]
Chinese buyers target foreign insurance companies
Chinese buyers looking for overseas acquisitions are now adding a new item to their list of potential takeover targets, – insurance companies, the Wall Street Journal reported Tuesday. Three leading bidders for Singapore-based Asia Capital Reinsurance Group Pte Ltd all obtained capital support from China, the journal said. Foresea Life […]
FCA Says, U.K. Insurers Are Failing to Supervise Salespeople
FCA will write to chief executives demamding better oversight More than half of companies were not clearly managing risks The Financial Conduct Authority will write to chief executives of U.K. insurers after it found “widespread” evidence that companies are failing to supervise external salespeople. More than half of the companies […]
NFL notebook: Former player sues Lloyd’s of London over concussion insurance claim
A former NFL player who suffered what the league deemed a career-ending concussion has sued insurer Lloyd’s of London for denying a $1 million insurance policy for professional athletes. The lawsuit, filed this week in North Carolina, could become a test case for insurers dealing with the emerging fallout from […]
