The insurance industry presently has between N70 to N80 billion life annuity fund, Commissioner for Insurance, National Insurance Commission (NAICOM) Mohammed Kari has said. He made this known following calls by the Minster for Power, Works and Housing, Babatunde Fashola that the industry should invest in infrastructural development. Speaking with […]
Insurance
Acquiring export insurance remains problematic for local traders
Local businessmen and traders are still waiting for promised government help in setting up export credit insurance for trade with Portuguese-speaking countries. Local companies involved in trading with Portuguese-speaking countries are still waiting for the Export Credit Insurance mechanism previously discussed by the government. In his last policy address, Chief […]
South Africa insurer Sanlam buys 49% stakes in Firstglobal AM
The stake includes seven wealth management/financial advisory businesses which are independently owned by senior professional advisors based in Johannesburg, Cape Town, Pretoria, Durban and Richards Bay. Formed in 2004, Cape Town-headquartered Firstglobal AM is a part of the Firstglobal Group. The firm currently manages six South African and two offshore […]
Indian General Insurers Say Brexit Not To Hit Business
Indian general insurers do not see any negative impact of Brexit, the UK’s vote to leave European Union, on their business. The country’s general insurance sector largely depends upon the London market for their specialised and reinsurance needs. Over $2.5 billion of Indian reinsurance business is transacted in the London […]
XL Catlin launches African reinsurance unit
XL Catlin has established a new reinsurance unit focusing on facultative and treaty reinsurance across Africa. Alex St James will lead the team as head of Africa for XL Catlin’s reinsurance. In addition, Matthew Gillies has been named actuarial underwriter. Both St James and Gillies will be based in London. […]
BRIEF-UK’s FCA fines Towergate and Timothy Philip for client and insurer money failings
UK Financial Conduct Authority(FCA): * Fines Towergate and former director Timothy Philip for client and insurer money failings * Has today fined Towergate Underwriting Group Limited 2.6 mln stg for failings in relation to its protection of client and insurer money * Found today that Towergate failed to comply with […]
Future Proofing European Mutuals
LONDON, UK – JULY 2016 – European mutual insurance companies are at an inflection point in which they must embrace change or risk losing relevance and market share. Having remained largely unchanged for decades, the speed and agility with which European mutuals can react to the dynamically changing market landscape […]
Life insurance claims soar as Nigeria records more deaths
NIA Chairman, Eddie Efekoha Leave a comment and share Chuks Udo Okonta Life insurance operators have continued to pay more claims due to high death rate of people with life policy, investigations have revealed. It was also gathered that demands for life policies have risen in recent times, as people […]
FBNInsurance sponsors free Breast, Cervical screening for women
MD FBNInsurance Life, Val Ojumah Leave a comment and share Chuks Udo Okonta FBNInsurance Limited, in conjunction with Rotary Club of Omole Golden, recently carried out a Breast and Cervical Screening/Vaccination exercise for girls and women. The exercise which held at the premises of Ifako Ijaye Health Centre, Ogba, Lagos, […]
FG accumulates over N140bn liabilities under CPS
Longe Leave a comment and share Chuks Udo Okonta The Federal Government has accumulated over N140 billion pension liabilities in recent times, Inspen can report. The inability of the government to meet its obligations has raised great concern amongst stakeholders. According to the National Pension Commission (PenCom), from 2014 to […]
