Old Mutual PLC said it has been approached by companies interested in buying a stake in its U.S.-based fund management unit. “Old Mutual confirms that it has received approaches from third parties to acquire its stake,” in OM Asset Management, the London-based insurer said in a statement on Tuesday. There’s […]
Insurance
China regulator tightens overseas insurance product sales scrutiny: Shanghai Securities News
China’s insurance regulator has asked all of its branches to heighten vigilance against sales of insurance products in the mainland by overseas insurers that break rules, the state-owned Shanghai Securities News said on Tuesday. In February, China’s foreign exchange regulator set a $5,000 single-purchase limit for customers buying overseas insurance […]
Consolidated Hallmark Insurance nets N545.81m, pays 3k dividend
.Pays N960m dividend since 2007 From left: Former Chairman, Ekezie; Ekekoha and a member of the new board Obinna Ekezie at the event. Leave a comment and share Chuks Udo Okonta Consolidated Hallmark Insurance Plc recorded a net profit of N545.81 million in 2015 as against N193.07 posted in 2014. […]
NAICOM approves 16 firms’ 2015 accounts
NAME OF COMPANY STATUS (2015 FS) 1 Wapic Life Assurance Ltd Approved 2 FBN General Insuance Approved 3 Wapic Insurance Plc Approved 4 Ensure Insurance Plc Approved 5 FBN Insurance Ltd Approved 6 Law Union & Rock Insurance Company Plc Approved 7 Mansard Ins PLc Approved 8 Custodian and Allied […]
Local indigenous investors explore Nigeria’s insurance market
As more foreign investors venture into the insurance sector, some local firms with huge potential have also shown readiness to add value to the growth of the industry About 18 insurance broking firms and one underwriting company applied to the National Insurance Commission in 2015 to obtain new licences to […]
Insurer AXA to pull out of tobacco investments
French insurer AXA (AXAF.PA) plans to stop investing in the tobacco industry, citing the impact of smoking on public health, and said it plans to sell its 1.8 billion euros ($2.02 billion) of assets in the sector. AXA said it would divest its 200 million euros of equity holdings in […]
Ecobank and Old Mutual announce enhanced strategic agreeement
PRESS RELEASE – Ecobank Transnational Incorporated (ETI)(http://www.Ecobank.com), parent company of the Ecobank Group, and Old Mutual Emerging Markets (OMEM) (https://www.OldMutual.com), a part of the Old Mutual Group, today announced an enhanced strategic agreement that will strengthen existing ties between the leading pan-African bank and the insurance and asset management giant. […]
Access Bank partners WAPIC, Ghana Life for Bancassurance
Access Bank Ghana has partnered Wapic Insurance and Ghana Life Insurance companies to launch innovative insurance products for consumers in Ghana, In line with its strategy to build capacity in retail banking. The launch, which follows the signing of a strategic partnership agreement between Access Bank and the two insurance […]
Top 5 most complained about insurance products in South Africa
The Ombudsman for Short-Term Insurance has revealed the types of insurance vehicles that receive the most complaints. According to the Ombudsman’s annual report in 2015‚ the watchdog recovered in excess of R100 million for consumers from the short-term insurance industry. It said that total of 9‚784 complaints against short-term insurers […]
It’s prison for insurance agent in $1M scam
A former insurance agent from Essex County was sentenced to six years in state prison on Wednesday for filing hundreds of phony life insurance applications to score commission fees. Authorities say Stanley Jerome, 33, pulled in commissions and bonuses totaling $1,132,675 in the scheme, which included paying low-income people for […]
