Bank to focus on growing existing operations, adding branches Ambition to be in 15 countries in 10 years unchanged, CEO says Equity Group Holdings Ltd., Kenya’s biggest bank by market value, put plans to expand into five other African countries on hold after sliding prices for commodities from oil to […]
Insurance
Africa accounts for 1.4% of global insurance premium
The President, African Insurance Organisation (AIO), Mrs. Lamia Ben Mahmoud has lamented that Africa’s share of global insurance premium remains low at 1.4 per cent. She added that penetration remained low with a premium/gross domestic product (GDP) ratio not exceeding one per cent in some countries. This is below the […]
Premium flight harms African growth prospects: AIO
Matthew Neill African insurance companies are struggling to stop premiums leaving the region as foreign competition and a dearth of local skills harms their growth potential. In its first African Insurance Barometer, the African Insurance Organisation (AIO) said that 90 percent of executives based in the region that it polled […]
Insurance giant Axa set to create 80 call centre jobs
The firm is adding new customer service jobs to its Springtown Business Park base. The roles will include a range of customer service, claims and sales operations. Axa has been based at its Springtown Business Park site since 2007 and the new roles will bring job numbers to more than […]
AIICO Insurance grosses N9.94bn premium income
AIICO Insurance Plc has recorded a profit before tax of N1.4 billion in the financial year 2015 as against the N3.1 billion it recorded in 2014. This was made known in the company’s 2015 full year audited financials posted on its website. The company held its 46th Annual General Meeting […]
NAICOM intensifies battle against rate cutting
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) said it would continue to fight the menace of rate cutting through enactment of stricter regulations. The Commissioner for Insurance Mohammed Kari, disclosed this at the 2016 Risk Management Conference and Awards Ceremony in Lagos. He noted […]
Ghana takes steps to strengthen insurance industry
Market reforms to reduce fragmentation and improve solvency, alongside the gradual expansion of bancassurance, should improve the medium- and long-term prospects of Ghana’s insurance industry. The coming months will likely see mergers across the sector, after the National Insurance Commission (NIC) raised capital requirements for insurers late last year. Consolidation […]
Great Nigeria Insurance donates learning kits to schools
Leave a comment and share Chuks Udo Okonta Great Nigeria Insurance Plc, one of Nigeria’s foremost insurance and financial services provider, as part of its Corporate Social Responsibility (CSR), recently donated educational learning kits to pupils of Wesley Schools 1 & 2, Surulere Lagos, for the hearing impaired. Speaking during […]
FBNInsurance widens retail network, opens four new offices
Leave a comment and share Chuks Udo okonta In order to further reach the uninsured in Nigeria, leading insurance company, FBNInsurance Limited, has opened four new retail offices in Umuahia, Eket, Orlu and Abraka. A press statement released by the Marketing and Corporate Communications department of the company reads in […]
RIMSON inducts Ojumah as fellow
From left: Val Ojumah, MD/CEO, FBNInsurance Limited receiving his commemorative plaque from Barr. Luke Aghedo of Luke Aghedo and Associates. The Managing Director and Chief Executive Officer of FBNInsurance Limited, Val Ojumah, has been inducted as a Fellow of the Risk Managers Society of Nigeria (RIMSON). His induction is a […]
