Insurance companies will soon be required to top up their minimum capital thresholds by between 66 and 150 percent as the Insurance and Pension Commission (IPEC) moves to enforce the new minimum capital requirements that were announced by Finance Minister Patrick Chinamasa in the 2016 National budget statement. Minister Chinamasa […]
Insurance
Swiss Re acquires 25 percent stake in Leadway Insurance
Leadway Assurance Company Limited has announced that Swiss Re has purchased a 25 per cent stake in the company. Leadway Managing Director Mr Oye Hassan-Odukale made this known in Lagos. According to him, the acquisition of shares by Swiss Re marks the beginning of a new chapter in the firm. […]
Sovereign Trust Insurance holds AGM
Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance (STI) Plc having been granted approvals for its 2015 annual reports and accounts by the National Insurance Commission (NAICOM) and the Nigerian Stock Exchange (NSE) is set to host the 21st edition of her Annual General Meeting (AGM)on August […]
Group wants stringent claims rules in policy documents
Chairman NIA, Eddie Efekoha Leave a comment and share Chuks Udo Okonta A group of insurers have canvassed the use of warranties as against clauses in insurance policy documents to enable operators take definite actions in the event of breach by the insured. The Fire Office Committee of the Nigerian […]
South African insurer Discovery launches wellness programme in Japan
South African insurer Discovery Limited said on Thursday it will launch in Japan its behaviour tracking programme, which rewards health and life insurance clients for healthy lifestyle choices and helps track their fitness. Discovery gave no financial details about the deal which sees it team up with life insurer Sumitomo […]
Smart cars could bring new challenges for traditional motor insurers
LONDON: As Internet -connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled for years to make a profit from motor insurance due to intense competition and a rising tide of fraudulent claims. Now they […]
European Insurers Lead Global Industry On Climate Risk Action
Dina Medland , CONTRIBUTOR I cover corporate leadership, the boardroom and corporate governance Opinions expressed by Forbes Contributors are their own. Where there is risk, there is also opportunity. Getting the global insurance industry to act on climate risk is one of the tasks that has been undertaken by Mark […]
NIA boss seeks support for insurance growth
Efekoha Leave a comment and share Chuks Udo Okonta The Chairman Nigerian Insurers Association (NIA) Eddie Efekoha, has called on insurance operators to respond quickly to the changing dynamics of the market space to avoid going into extinction due to the present global challenges. Efekoha, who said this in Lagos, […]
Reps probe FG’s N35bn insurance spending
The House of Representatives, Tuesday resolved to look into the N35 billion insurance bill on insurance covers of fixed and non-fixed government assets in the 2015 appropriation. The Green Chamber is to constitute an Ad-Hoc committee to compel the Head of Service of the Federation and other statutory government establishments […]
Buhari seeks NASS approval for NAICOM, CBN, others’ budget
President Buhari President Muhammadu Buhari on Tuesday forwarded the 2016 budget proposal of the National Insurance Commission (NAICOM)and other 37 Federal Government agencies to the National Assembly for consideration and passage into law. The President said the action was informed by the provisions of the Fiscal Responsibility Act, 2007, which […]
