Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has extended the insurance industry recapitalisation deadline to December 31, 2020. NAICOM disclosed today in a circular signed by its Director, Policy and Regulation Directorate, Pius Agboola, entitled; Minimum Paid Up share Capital Policy for Insurance and […]
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African Alliance Shareholders restate support for firm’s recapitalisation drive
From left: Alhaji Ahmed Nahuche, Non-Executive Director; Olabisi Adekola, Executive Director, Finance; Dr Anthony Okocha, Chairman of the Board; Funmi Omo, Managing Director/Chief Executive Officer; Sylva Ogwemoh (SAN), Non-Executive Director all of African Alliance at the firm’s 50th AGM in Uyo. Leave a comment and share Chuks Udo Okonta Shareholders […]
Sovereign Trust Insurance Plc lists additional 4.17bn ordinary shares on NSE
Olaotan Soyinka, MD/CEO, Sovereign Trust Insurance Plc *Firm’s total issued and fully paid up shares now 12.51bn Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance (STI) Plc., has said an additional 4,170,411,648 of its ordinary shares were on December 23, 2019, listed on the Daily Official List […]
Micro-insurance industry in South Africa set for take-off in 2020
*New regulations coupled with insurtech offerings will pave the way for significant growth Traditionally, access to micro-insurance in South Africa for lower income households has been restricted to life insurance products only, in the form of funeral insurance. However, barriers to uptake and opportunities for financial inclusion were less than […]
Insurers shed N323bn annuity business for retail underwriting
Leave a comment and share Chuks Udo Okonta Some insurance companies are cutting down on their uptake of N323 billion annuity business because they considered it to be so volatile and probed to inflation, Inspenonline can report. Investigation by Inspenonline revealed that three life underwriting firms had drastically reduced their […]
Cornerstone Insurance berths comfortably in recapitalised zone
From left: Executive Director Institutional Business, Cornerstone Insurance Plc, Chidiebere Nwokeocha; Group Managing Director/CEO, Ganiyu Musa and Group Head, Strategy, Investor Relations & ERM, Adewale Foster-Aileru at the event. Leave a comment and share Chuks Udo Okonta At a time other insurance companies are still strategizing on how to meet […]
Mutual Benefits Assurance names Asenuga Managing Director as Omosehin retires
Asenuga Leave a comment and share Chuks Udo Okonta Following the retirement of Olusegun Omosehin as the Managing Director of Mutual Benefits Assurance Plc., the firm has appointed Femi Asenuga as the new Managing Director/Chief Executive Officer (CEO), subject to regulatory approvals. The firm said this in a statement signed […]
N300m insurance rebranding project hits rock as recapitalisation fever grips insurers in 2019
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 […]
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 […]
