Mrs. Ilori The business operating environment this year seemed tough for companies, especially, in the insurance sector. Chuks Udo Okonta, in this report looks at major developments that shaped the underwriting sector. Insurance operators came into this year, with great expectations. They had hinged their belief on some initiatives rolled […]
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FG takes away unwholesome tax burden from insurers
Smart Leave a comment and share Chuks Udo Okonta The Federal Government has through the Executive Finance Bill recently passed by the National Assembly relieved insurers of an unwholesome tax burden that had hitherto drained their earnings. The Bill, which is yet to be signed by President, Muhammadu Buhari, deleted […]
Kenyan startup launches insurance-as-a-service platform for underwriters
BY TOM JACKSON Kenyan startup Griffin has launched, offering an insurance-as-a-service (IaaS) digital management platform to insurers and a motor app for consumers. Launched in October after being seed-funded in early 2018, Griffin is an insurtech startup operating two commercial brands. Lami is its IaaS platform, which provides customers with […]
How Blockchain is disrupting the insurance industry
Most insurers have started exploring the opportunities the Blockchain can deliver to their business. With 81% of insurers globally familiar with the technology, some areas of focus are fraud prevention, the digital tracking of medical records and developing smart contracts. JC Oberholzer, Chief Systems Architect of SilverBridge Holdings, examines the […]
Insurance recapitalisation to cost N77bn
By Omobola Tolu-Kusimo The ongoing recapitalisation in the insurance industry will cost insurers about N77 billion, The Nation has learnt. Top industry sources who spoke on condition of anonymity said the recapitalisation cost was drawn from fees to be paid to the Nigerian Securities and Exchange Commission (SEC), tax and […]
Royal Exchange appoints Wale Banmore new GMD, Iwuajoku as Group ED
Banmore Leave a comment and share Chuks Udo Okonta The Board of Directors, Royal Exchange Plc, has announced the appointments of Olawale Banmore, as the new Group Managing Director, while John Iwuajoku has been appointed the Group Executive Director, Operations. Both appointments are effective, December 4, 2019, the firm said. […]
Universal Insurance gets shareholders’ nod for fresh recapitalisation funds
From left: Ben Ujoatuonu, Managing Director/CEO, Paulinus Offorzor, Executive Director(Technical); Engr Cyril Ajagu, Core Investor, Reginald Anyanwu, Executive Director, and Tony Okocha, Ag Chairman, Board of Directors during the 49th Annual General Meeting of Universal Insurance Plc today in Lagos. Leave a comment and share Chuks Udo Okonta With the […]
Funmi Omo named amongst top 100 women CEOs in Africa
Omo Leave a comment and share Chuks Udo Okonta Chief Executive Officer of Nigeria’s foremost life insurer, African Alliance Plc., Funmi Omo, has been named amongst the top 100 women Chief Executive Officers (CEOs) on the continent by Reset Global People in partnership with Pulse Media and Avance Media. According […]
Consolidated Hallmark Insurance gets NAICOM approval for micro insurance
Efekoha Leave a comment and share Chuks Udo Okonta Consolidated Hallmark Insurance (CHI Plc) has received approval-in-principle from the National Insurance Commission (NAICOM) to operate CHI Micro Insurance Limited, a new Micro Life Assurance subsidiary. The positive development is coming on the heels of a recent disclosure by the company’s […]
Reginald Egbuniwe takes over as ILAN’s president
From left: Past President, Institute of Loss Adjusters of Nigeria, Alhaji Femi Hassan and Registrar, Femi Tayo at the event. Leave a comment and share Chuks Udo Okonta Institute of Loss Adjusters of Nigeria (ILAN) has appointed Reginald Egbuniwe as its President. Egbuniwe became the president at the institute’s 37th […]
