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 […]
Insurance
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 […]
Fitch Downgrades 2 South African Insurance Groups’ IFS Ratings
(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 […]
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 […]
