(The following statement was released by the rating agency) Link to Fitch Ratings’ Report: South Africa Insurance Review (Six Groups) – Rating Action Report here LONDON, December 14 (Fitch) Fitch Ratings has completed a review covering six insurance groups within South Africa focused exclusively on the impact of Fitch’s downgrade […]
Insurance
159 professionals join insurance workforce
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 2015 Graduation Ceremony of the institute in Ikeja, Lagos. Leave a comment Chuks Udo Okonta The Chartered Insurance Institute of Nigeria (CIIN) […]
Analyst advises NAICOM to reduce licence requirements for brokers
An Insurance analyst, Mr Muftau Oyegunle, on Sunday advised the National Insurance Commission (NAICOM) to reduce licence renewal requirements for insurance brokers. Oyegunle, who made this call in an interview with the News Agency of Nigeria (NAN) in Lagos, urged the commission to consider two to three years documentation requirements […]
FBNInsurance fetes her stakeholders at 5
When FBNInsurance rolled out the drums on Friday, 4th December 2015, in celebration of her 5 years of operations, it was clear from all indications that the foremost insurance company had many reasons to celebrate. The company currently ranked 5th in the Life Insurance business had a healthy premium income […]
Insurers move to implement resolutions from mega confab
Ahmed Leave a comment Chuks Udo Okonta The Director Generals and Executive Secretaries of the various arms of the insurance industry have been mandated to ensure full implementation of resolutions reached at the Insurance Mega Conference, Inspen can report. It was gathered that the directors and secretaries were constituted into […]
A.M. Best Withdraws Ratings of Sterling Life Insurance Company
A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Sterling Life Insurance Company (Sterling) (Chicago, IL), a subsidiary of Cigna Corporation (Cigna) [NYSE: CI]. The ratings of all Cigna’s subsidiaries remain under review with developing implications following the announcement of […]
Businessman gets 37 years for $100M insurance premium fraud
BALTIMORE (AP) — A businessman who prosecutors say stole more than $100 million in insurance premiums to live a life of luxury has been sentenced to 37 years in prison. Forty-year-old Jeffrey Brian Cohen of Reisterstown, about 25 miles northwest of Baltimore, was also ordered to pay restitution at sentencing […]
South Africa’s Cabinet Approves White Paper on Health Insurance
Healthcare accounts more for than 11% of government spending Zuma announced NHI in first state of the nation speech in 2009 South Africa’s cabinet has approved a policy white paper on a compulsory health-insurance plan. “It will be funded through a central fund that will also be made available to […]
CIIN shops for writers
Ahmed Leave a comment Chuks Udo Okonta The Chartered Insurance Institute of Nigeria (CIIN) is shopping for professional writers that would help domesticate its course books, Inspen can report. Its Director-General Kola Ahmed, disclosed this in an interview, adding that the writers will be saddled with the responsibility of including […]
Japanese brands dominate insurance industry’s auto safety rankings for 2016 model year
By DEE-ANN DURBIN, Associated Press Japanese brands dominate the insurance industry’s rankings of the safest vehicles for the 2016 model year. The Insurance Institute for Highway Safety said Thursday that 48 vehicles earned its highest rating of “Top Safety Pick Plus.” That’s up from 33 a year ago. Toyota, Honda […]
