£150m connected roads trial to go live next year. The technology and driver assistance systems will have a huge impact on insurance costs. Radar, WiFi roads and autonomous cars will be trialled in the UK by the end of 2017 as part of a £150million Government project. Unveiled by Highways […]
Insurance
IPEC fights insurance fraud
Golden Sibanda Senior Business Reporter The Insurance and Pension Commission is working with the insurance firms to put tamper proof features on cover notes to deter fraud. This comes as a significant number of people have lost money and assets believing they were insured, yet they would have been issued […]
NIA lauds Fed Govt’s N14.69b vote for Group life, others
Thomas The Nigeria Insurers Association has commended the Federal Government for earmarking N14.69 billion insurance premium for Group Life Insurance for its workers and assets. NIA’s Director-General, Sunday Thomas in an interview said the government has done well, adding that there was need for more in terms of insurance of […]
IGI gets NAICOM’s go-ahead to restructure assets
Leave a comment and share Chuks udo Okonta The National Insurance Commission (NAICOM) has approved plans by the Industrial and General Insurance Plc (IGI) to convert part of its long-term assets to liquidity. With the approval, IGI can now restructure its massive investment in real estate and subsidiaries, amounting to […]
Insurers will have to grow differently to survive, says PwC
Hanna Ziady Workers clean windows outside the Cape Town headquarters of Anglo-South African financial services company Old Mutual, March 7, 2016. Old Mutual said on Monday it was considering all options available to it under the strategic review announced in November. REUTERS/Mike Hutchings – RTS9M4D JOHANNESBURG – As volatile markets […]
Continental Reinsurance posts FY net insurance premium revenue of 18.20 bln naira
* Fy net insurance premium revenue 18.20 billion naira versus 14.19 billion naira * Fy profit before income tax expense 2.92 billion naira versus 1.59 billion naira Financial statement source: http://www.nse.com.ng/Financial_NewsDocs/13194_CONTINENTAL_RE_AUDITED_DEC_2015_FINANCIAL_STATEMENTS_APRIL_2016.pdf Naija247news recalled that the Emerging Capital Partners (ECP), an international private equity firm focused on investing across the African […]
Insurers cough out N11bn for outstanding claims
By Rosemary Onuoha Insurers have been forced to cough out over N11 billion to settle all outstanding claims in their books, owed consumers for over three years running, Vanguard investigation reveals. Following the directive given to insurers late last year by the National Insurance Commission, NAICOM, to wipe out all […]
NAICOM eyes self-employed job for insurance professionals
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) said it would leverage the planned staggered licence for microinsurance and takaful operations, to provide opportunities for dogged insurance professionals to set-up their underwriting firms, Inspen can report. The Commissioner for Insurance Mohammed Kari, said the planned […]
NGO advocates free health insurance for ‘Kayayes’
A local NGO, dedicated to the protection of the rights of vulnerable girls and women, ‘Society for Women and AIDS in Africa (SWAA) – Ghana’, is advocating free health insurance for female head porters, popularly referred to as, ‘kayayes’. Mrs. Elsie Ayeh, its Ashanti Regional Coordinator, said this was important […]
German Insurer Allianz to Pull out of Korea
Germany’s Allianz, the world’s top insurance company, is pulling out of the Korean market after selling Allianz Life Insurance Korea to China’s Anbang Insurance Group at a cut-rate US$3 million. Anbang announced the deal on Wednesday on Chinese messaging app WeChat. The sales price came as a shock to industry […]
