Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) has stopped the usage of form 30 for renewal of brokers’ licence. The commission in a circular issued to brokers which was obtained from its website, said the requirement for filling of form 30 which is for schedule of […]
Insurance
Niger Insurance appoints new directors
Niger Insurance Plc has notified the Nigerian Stock Exchange that Alhaji Bala Zakariyau (Chairman) and Mr. Frederick Nnamdi Udechukwu (Director) would retire from the board of the company effective 1 January 2016. The board also approved the appointment of Umaru H. Modibbo and Dr. Stephen N. Dike as nonexecutive directors […]
A.M. Best Affirms Ratings of Wapic Insurance Plc
LONDON–(BUSINESS WIRE)–A.M. Best has affirmed the financial strength rating of B- (Fair) and the issuer credit rating of “bb-” of Wapic Insurance Plc (Wapic) (Nigeria), the operating holding company of the Wapic group of companies. The outlook for both ratings is stable. The ratings of Wapic reflect its developing business […]
Underwriter identifies causes of unethical vices in insurance
From left: Immediate Past President, Chartered Insurance Institute of Nigeria(CIIN), Past Mr. Bola Temowo; President, CIIN, Lady Isioma Chukwuma and Deputy President, CIIN, Mrs. Funmi Babington-Ashaye at the event Lagos. Leave a comment Chuks Udo Okonta The Managing Director Consolidated Hallmark Insurance Plc, Eddie Efekoha, has identified greed; lack of […]
WHO backs use of mobile phones to increase health insurance coverage
THE World Health Organisation (WHO) has backed the use of mobile phones to raise funds to enable the National Health Insurance Scheme (NHIS) achieve Universal Health Coverage (UHC). According to a case study by the WHO published as part of activities to mark the International Day for Universal Health Coverage […]
Continental Reinsurance bolsters its pan-African expansion in southern Africa
Continental Reinsurance Plc, a pan-African reinsurance company and the largest private reinsurance player outside of South Africa, is celebrating the success of its strategic growth plans to establish fully licensed subsidiaries across the African continent. Lawrence Nazare, executive director of Continental Reinsurance, explains that the establishment of the subsidiary in […]
African Risk Capacity (ARC) gets $150m in support from COP21 countries
The African Risk Capacity (ARC), Africa’s first sovereign catastrophe insurance pool, is set to receive $150 million in support pledged by countries attending the Paris COP21 climate change talks over the last fortnight. The African Risk Capacity (ARC) has received a significant amount of coverage and support over the last […]
How Hollard is leveraging retailers and telcos to sell insurance in Africa
South African-owned short term and life insurer, Hollard Insurance Group, was established in 1980, and has since expanded its operations to other markets – including China, Australia, Zambia, Botswana, Namibia, Mozambique and Ghana. The company has an annual turnover of more than R15bn (about $1bn), which it has grown with […]
China issues guidance for internal control of insurance funds
China’s insurance regulator on Tuesday issued a guidance for internal control of insurance funds partly to raise the sector’s risk management capability. The China Insurance Regulatory Commission (CIRC) said in a statement on its website that the guidance will improve internal control for the use of insurance funds, enhance the […]
Lloyd’s of London to launch insurance-based index
By Sarah Veysey Lloyd’s of London will launch an insurance-based index in mid-2016, the market announced Wednesday. Lloyd’s said in a statement that the index would give managing agents, brokers and other insurers “new options for managing risk and form the basis of index-related products of interest to the wider […]
