The Ethiopian national parliament on Wednesday ratified a draft bill allowing Ethiopia to join the African Trade Insurance Agency (ATIA). Chairperson of Parliament’s Budget and Finance Affairs Standing Committee, Genet Taddese, said joining the African Trade Insurance Agency enables the country to offer political and trade credit risk insurance services […]
Insurance
‘Panama Papers’ leak details ties to insurance fraud in boat tragedy
By Mark A. Hofmann A case of insurance fraud involving a fatal boating accident in upstate New York is cited in the so-called “Panama Papers” that detail the use of offshore accounts and shell companies by politicians and others, some of whom are allegedly engaged in money laundering. The papers, […]
Insurers Groan Under Harsh Business Climate
By Ebere Nwoji The first quarter of the year 2016, was a very bad period for the insurance industry given a number of negative factors that adversely affected operators. For the insurance sub sector of the economy, the first quarter of the year 2016, was a mixture of rough, tough […]
Insurance companies more dangerous to the economy than ever – IMF
By Caitlin Bronson An international body is urging greater regulation on insurance companies, arguing that carriers pose a greater risk to the global financial system now than they did before the financial crisis. In a new report, the International Monetary Fund suggests that insurers – particularly life insurers – play […]
NCRIB mourns exit of Balogun
Leave a comment and share Chuks udo Okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) the umbrella body of all registered insurance brokers in Nigeria, has bemoaned the demise of one of the pioneer members and founders of the Council, Late Chief Tunde Odutola Balogun who died recently at […]
Regulation Is Transforming Africa’s Insurance Sector – KPMG
Chika Izuora There are serious indications to suggest that the insurance industry in Africa and in particular South Africa are being transformed, according to KPMG’s South African Insurance Survey 2015. The survey says, some of the changes in South Africa’s insurance sector have been as a result of regulatory and […]
How The 2016 Budget Will Impact UK’s Insurance Industry
Toby Nwazor UK’s recent budget has seen an increase in insurance premium tax (IPT) by 0.5%, taking the current rate to 10% in order to raise over £700 million for much needed flood defence in the UK. The tax on sugary drinks is equally supposed to raise an additional £520. […]
Dearth Of Manpower Bane Of Insurance Growth – CIIN
The Chartered Insurance Institute of Nigeria (CIIN) said it will partner with Ahmadu Bello University, Zaria to address the dearth of manpower in the insurance industry. The newly elected Chairman, Kaduna State Chapter of the institute, Mr Olugbenga Ogunsanya stated this shortly after being sworn in. According to him, the […]
Only 300 insurance broking firms have valid licences – NAICOM
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has said only 300 insurance broking firms have valid licences to operate. The names of the firms qualified to broker insurance business are published on the website of the commission. The Commission in December 2015, published the […]
Allianz to sell $5 billion life insurance portfolio in Italy – sources
By Pamela Barbaglia German insurer Allianz (ALVG.DE) is looking to sell a $5 billion portfolio of life insurance policies in Italy, sources familiar with the matter has said. Europe’s biggest insurer has picked Goldman Sachs (GS.N) to run the sale of the closed life policies, which no longer accept new […]
