Five years ago, the current Insurance Act 2003, was revised and passed to the Executive arm of the industry, specifically, the Finance Ministry, but as it stands, it is yet to leave the Ministry to the National Assembly, although there are steps being taken to get the bill passed under […]
Insurance
Canada’s Sun Life Boosts Indian Insurance Venture Stake
By Judy McKinnon Sun Life Financial Inc., Canada’s third-largest insurance company by assets, said Wednesday it will boost its stake in its Indian insurance joint venture to 49% from 26%, expanding in what it considers a key growth market. Toronto-based Sun Life said it would pay about 340 million Canadian […]
EU Tells 14 Countries to Put Deposit-Insurance Rules in Place
Infringement letters sent to 18 nations, 14 now need to comply Bank resolution rules still need action from nine countries The European Union is pursuing infringement proceedings against 14 member countries that haven’t changed their national laws to comply with the bloc’s new rules for deposit guarantee systems. Belgium, the […]
Obama unveils $30 mln for climate risk insurance to protect poor
Climate deal needed if Bill’s billions are to help poor nations BY MEGAN ROWLING PARIS,(Thomson Reuters Foundation) – The United States will contribute $30 million to climate risk insurance schemes in the Pacific, Central America and Africa, President Barack Obama announced at a meeting with leaders of small island nations […]
CIIN to align syllabus with CII UK
Ahmed Leave a comment Chuks Udo Okonta The much expected syllabus of the Chartered Insurance Institute of Nigeria (CIIN) when completed would feature relevant parts of that of Chartered Insurance Institute of the United Kingdom, Inspen has learnt. It was gathered that the syllabus which work is at the final […]
Zurich Insurance boss Martin Senn quits
Chief executive cites setbacks such as losses after Tianjin explosions and aborted takeover of RSA Aftermath of explosions in Tianjin, China. Zurich lost $275m in the disaster, in which 173 people died. Photograph: Wu Hong/EPA The chief executive of Zurich Insurance has stepped down after a series of mishaps that […]
How to curb insurance premium decline – CIIN DG
Leave a comment Chuks Udo Okonta The consultation of market leaders before undertaken a new risk would help stem the continuos slide of premium, the Director-General Chartered Insurance Institute of Nigeria (CIIN) Kola Ahmed, has said. He told Inspen in an interview that the absence of market leaders in the […]
Finally, Life Insurance For People Living With HIV
Prudential Financial Inc., one of the nation’s largest life insurers, this week plans to announce that it will offer traditional individual policies to eligible people living with HIV, a condition that for decades has excluded most of them from any but the skimpiest of coverage, company officials said. It is […]
AXA hikes stake in insurance JVs to 49 percent
(IANS) Global insurance and asset management major AXA Group on Tuesday said it has hiked, to 49 percent, its stake in life and general insurance joint ventures with its Indian partner Bharti Enterprises. AXA Group escalated its stake from 26 percent to 49 percent in life insurance Bharti AXA […]
Tenure for MDs: Broking firms registered in owners names to get respite
Leave a comment Chuks Udo Okonta Insurance broking firms registered in the names of their owners may not be affected by the proposed 10 years tenure for Managing Directors, Inspen has learnt. It was gathered that this window was created by the National Insurance Commission (NAICOM) to assuaged aggrieved brokers […]
