Leave a comment Chuks Udo Okonta The Commissioner for Insurance Mohammed Kari, has dared aggrieved insurance operators to make public the charges paid to the National Insurance Commission (NAICOM) that has culminated in their inability to pay dividends to their shareholders. He disclosed this at an event organised by Champion […]
Insurance
FBNInsurance donates N.1m to motherless, old people home
Leave a comment Chuks Udo Okonta FBNInsuarnce Limited as part of activities to round off its 5th anniversary celebration, today paid a visit to Heritage Homes & Orphanages, Anthony and the Lagos State Old Peoples’ Home, Yaba, Lagos and donated N250,000 each to the Homes amounting to N500, 000. Chief […]
Insurance now works in Nigeria, FBNInsurance Sure4Life claimant testifies
Leave a comment Chuks Udo Okonta “I feel very happy and excited that insurance now works in Nigeria particularly because FBNInsurance responded and paid my medical claims benefit very fast.” These were the words of Taofik Yahaya, the first claimant under the Sure4Life mobile insurance product of FBNInsurance Limited. Yahaya, […]
NAICOM accuses insurers of using shareholders to cover gross financial mismanagement
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) today said shareholders are deliberately being misinformed, misled and used as stooges by management of some insurance companies to cover up their gross financial mismanagement. The Commissioner for Insurance Mohammed Kari, said this at the 2015 Champion Newspaper Insurance […]
Man kills brother for insurance money, passes it off as accident
The mystery over the death of a physically handicapped person found lying on the road near Shikaripur six months ago has been resolved. Police had earlier concluded that it was a hit-and-run case but following a tip-off, reopened the case and found the killer to be the victim’s own elder […]
Fitch: UK Annuity Resale Plan May Fail, But Won’t Hurt Insurers
(The following statement was released by the rating agency) LONDON, December 16 (Fitch) The UK government’s plan to allow pensioners to sell their annuities will not affect the credit profile of insurers, but the complexity of pricing and managing transactions suggests any secondary market is likely to remain small, Fitch […]
Fitch: UK Non-Life London Market Insurance Continues to Face Pricing Pressures
(The following statement was released by the rating agency) Link to Fitch Ratings’ Report: 2016 Outlook: London Market Insurance here LONDON, December 18 (Fitch) Fitch Ratings says in a new report that London market insurers will continue to face pressure on their underwriting margins due to fierce competition. The London […]
NAICOM stops brokers from renewing licence with form 30
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 […]
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 […]
