The world’s largest insurer as measured by 2014 net premiums written is UnitedHealth Group Inc., according to a ranking by A.M. Best of the world’s largest insurance companies. France’s AXA S.A. kept its top spot among global insurers ranked by assets, but fell to No. 2 by net premiums written […]
Insurance
Almond finance and wealth report debuts on BCOS TV Ibadan
Ughwode Leave a comment Chuks Udo Okonta Almond Productions Limited producers of Almond Finance and Wealth Report on television and Wetin Insurance Dey Do Sef on Radio said it is expanding its viewership strength to Ibadan and environs. A statement by the Chief Executive Officer (CEO) Ms. Faith Ughwode, said […]
Insurance Bill in Parliament seeks to regulate microinsurers
BY LINDA ENSOR THE Insurance Bill, tabled in Parliament on Friday, will introduce a regulatory framework for microinsurers and a consolidated legal framework for the prudential supervision of insurers, the bill’s memorandum says. The bill introduces a new solvency assessment and management regime to ensure the financial soundness of insurers, […]
South Africa’s Liberty buys control of Ugandan short-term insurer
JOHANNESBURG (Reuters) – South Africa’s Liberty Holdings has bought a controlling stake in a short-term insurer in Uganda for an undisclosed sum, pursuing its strategy of expanding on the African continent. The deal gives Liberty a 51-percent stake in Madhvani Group’s short-term insurer, East African Underwriters Ltd (EAUL). EAUL provides […]
Why you should insure your spouse
Taking out life or funeral insurance on your spouse is often seen as a sinister move or the ‘elephant in the room’ among couples For this and other reasons, spouses tend to neglect this responsibility, exposing their families to unnecessary financial risk. Lee Bromfield, CEO of FNB Life, said this […]
THE IMPACT OF A WEAK RAND ON INSURANCE BROKERAGE FEES
By: Trust Matsilele The weakening rand is hurting South Africa’s insurance industry and the short-term sector is the most affected, this is according to industry players. Those in the sector say insurance companies dealing with motor vehicles are feeling the impact especially in cases where car parts need to be […]
Ghana is one of most attractive African countries for insurance industry growth – EY study
Ghana is one of the African countries with the most attractive mix of risk and opportunities for the insurance industry, a survey of seven key markets in East and West Africa by EY (Ernst & Young) has found. The survey examined 125 insurance executives and regulators in the East African […]
Nigeria’s Economic Growth hinges on Insurance Development -Okunoren
“Strategies for reviving Nigeria’s economy would achieve desired result if greater premium is placed on the insurance industry’s growth by government.” This assertion was made by the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Kayode Okunoren at the Council’s Secretariat in Lagos. According to him, aside from […]
AIG restructures but rejects Icahn breakup
Reuters American International Group said it would spin off its mortgage insurance unit and sell its broker-dealer network as part of the sweeping changes it has been promising shareholders as it fends off activist investor Carl Icahn. The insurer also said on Tuesday it would cut $1.6 billion of costs […]
Spain Court Finds Captain, British Insurer Liable For Prestige Oil Spill
Reversing an earlier court decision acquitting the captain Apostolos Mangouras, it sentenced him to two years in prison. (Representational Image) Madrid, Spain: Spain’s Supreme Court said today it had found the captain, the British insurer and the owner of the Prestige tanker that sank in 2002 liable for a devastating […]