Leave a comment and share Chuks Udo Okonta Some insurance companies had between 2013 to 2016 borrowed about N68.57 billion to support their operations, Inspenonline can report. Data obtained from the Nigerian Insurers Association (NIA) revealed that Non life operators borrowed N60 billion, while Life operators borrowed N8.57 billion. According […]
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Investment portfolio in Nigeria’s insurance industry grew by 8% to N762 billion in 2017
The 2018 Nigerian Insurance Industry report by Agusto & Co. has revealed poor performance of the investment portfolio in the sector. The 206-page report which also ranked firms in the industry across various financial indicators, also highlighted major challenges contributing to the industry’s low performance, particularly its investment portfolio management […]
NCRIB to register willing members with Chamber of Commerces
From left: The Executive Secretary/CEO, Nigerian Council of Registered Insurance Brokers, Fatai Adegbenro; President, Shola Tinubu; Vice President, Mr. Rotimi Edu; Hon Treasurer, Mrs. Ekeoma Ezeibe and Hon Auditor, Tunde Oguntade at the 2018 first quarter Press Conference held at NCRIB Secretariat on Monday in Lagos. Leave a comment and […]
Obasanjo endorses Anchor Insurance AnchorLoEIS product
From left: Deputy General Manager, Enterprise Risk Management, Anchor Insurance, Augustine Inegbenehi; Managing Director Designate, Augustine Ebose; Former President, Chief Olusegun Obasanjo, General Manager, Retail & Micro-Insurance, Uzoma Ofurum and Regional Manager, South-West, Phillips Olowoporoku at the event. Leave a comment and share Chuks Udo Okonta Former President Olusegun Obasanjo […]
FBNInsurance stimulates sales, rewards staff
From left: Head, Marketing and Corporate Communications, FBNInsurance; Elizabeth Agugoh; Chairman, Corporate Affairs Managers Committee of the Nigerian Insurers Association, Tunde Odeyemi; MD/CEO, FBNInsurance; Val Ojumah; Vice Chairman, CAMCONIA, Oyinkan Sobande; Head, Corporate Affairs, Nigerian Insurers Association, Davis Iyasere and Brand Management Executive, FBNInsurance, Bankole Banjo, at the March meeting […]
11 insurance firms struggle to get N572.43m investment income in 2016
Leave a comment and share Chuks Udo Okonta Eleven insurance companies made just N572.43 million from their investments in 2016, a report has said. According to the report obtained from the Nigerian Insurers Association (NIA), at the time these struggling firms, were counting the paltry sum, Leadway Assurance Company Limited, […]
NCRIB tightens rules to debar money bags from broking business
Adegbenro Leave a comment and share Chuks Udo Okonta Determined to take insurance broking business to lofty heights, the Nigerian Council of Registered Insurance Broker (NCRIB) has put in place stringent rules to prevent individuals with questionable characters from obtaining broking operational licences. The Executive Secretary of the Nigerian Council […]
Police: Dead personnel’s insurance claims rise by 300%
By Sunday Ojeme Frequent tragedies befalling Nigeria’s security agencies, especially the Nigeria Police Force (NPF), have shot up the insurance claims paid to victims’ families by over 300 per cent in two years. The development, if not checked, is soon likely to increase the N5.4 billion annual budgets for Federal […]
Leadway, FBNInsurance, others pay brokers, agents over N33.6bn commission
K Underwriters paid over N33.6 billion to brokers and agents in 2016, Inspenonline can report. Information obtained from the Nigerian Insurers Association (NIA) noted that Non Life Companies paid N22.40 billion, while Life Companies paid N11.19 billion commission to intermediaries in 2016. According to the NIA, companies with large commissions […]
Shareholders kick over NAICOM’s delayed intervention in UNIC Insurance
Shareholders at annual general meeting Leave a comment and share Chuks Udo Okonta Shareholders have expressed concerns over the intervention made by the National Insurance Commission (NAICOM) in UNIC Insurance Plc, stating that the regulator’s actions came a bit late as the firm is almost at the verge of collapse. […]
