Leave a comment Chuks Udo Okonta Yesterday’s inauguration of the Insurers Committee has further exposed the value the federal government places on the insurance industry as dignitaries at the event who have anticipated the presence of the newly appointed Minister of Finance Mrs Kemi Adeosun were disappointed when she sent […]
Insurance
NAICOM to Adopt Name-and-Shame Policy for Erring Insurance Operators
• FG inaugurates insurers committee James Emejo in Abuja The Commissioner for Insurance/Chief Executive, National Insurance Commission (NAICOM), Mr. Mohammed Kari, on Thursday hinted that his agency would adopt the name-and-shame policy in trying to restore sanity to insurance practice in the country. He said the proposed strategy would among […]
Shareholders decry excessive charges by NAICOM
Shareholders Association of Nigeria in the Insurance sector have decried excessive charges by the National Insurance Commission (NAICOM). Towards this end, the shareholders under Dynamic Shareholders Association Nigerian (DSAN) appealed to the federal government to review excessive charges by the body on insurance companies. Thisday reported that the group at […]
NAICOM takes issues of insurance law, taxation to FG
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) on Thursday sought the intervention of the Federal Government on two major issues – enactment of insurance law and excessive taxation which are stemming insurance growth. The Commissioner for Insurance Mohammed Kari, made the demand at the […]
SA Insurance pays N1.5bn claims, earns ‘BBB’ rating
Chuks Udo Okonta Standard Alliance Insurance Plc said it paid a consolidated claims amounting to N1.5billion in its nine months’ operations in 2015 just as it has received a ‘BBB’ rating from the South Africa-based Global Credit Rating (GCR) in recognition of its ability to settle verified claims promptly. […]
CBN seeks quality database to boost insurance penetration
The CBN on Wednesday advised insurance companies to generate quality database of operators as a step towards combating slow insurance penetration in Nigeria. The Head of Data Management Office (DMO) of the CBN, Mr Olayinka Peter, gave the advice at the opening of a Micro-insurance Fair in Lagos. The News […]
NIA holds micro insurance fair tomorrow
The micro insurance committee of the Nigeria Insurers Association (NIA), will on tomorrow Wednesday hold a micro insurance fair in Lagos. NIA Director-General, Sunday Thomas who made this known at a press briefing at the weekend, said the fair will hold at the LTV premises. According to him, the main […]
NAICOM activates industry’s change agenda with inauguration of insurers committee
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) is set to activate the industry’s change agenda with the inauguration of insurers committee by the Minister of Finance Mrs Kemi Adeosun. The event which is billed for Thursday 19, 2015, at the Sheraton Hotel, Abuja will be […]
Paris attacks fallout: Insurers foresee pick up in travel insurance
Insurers and industry-watchers expect a spike in demand for travel insurance in light of terror attacks in Paris last Friday, as international travellers wake up to the possibility of such threats across the globe, including high-sought-after destinations in developed nations. “The unfortunate incident could prompt travellers to recognise the importance […]
Insurance industry to be loss making up to 2016 – FBD
FBD Holdings has said it has seen a 9.2% decline in policy volumes in the year to date, which has been offset by a 9.1% rise in average rates. In an interim management statement, the company said it would continue to prioritise profitability over growth. FBD said its underwriting action […]
