Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) in a move to enforce laws on compulsory insurances, hopes to commence issuing compliance certificates that would be required in biding government’ s contracts. The Commissioner for Insurance, Mohammed Kari, told Inspen that the commission is presently […]
Spotlight
Zurich Insurance moves into takaful with Malaysia buy
Zurich Insurance is set to take full ownership of Malaysia’s MAA Takaful after the deal received regulatory approval, giving Europe’s fifth-biggest insurer a foothold in the world’s second largest Islamic insurance market. MAA Takaful, one of Malaysia’s 11 Islamic insurers, is a joint venture launched in 2006 by MAA Group […]
BRIEF-Consolidated Hallmark Insurance reports FY pre-tax profit 368.1 mln naira
Managing Director, CHI, Eddie Efekoha Consolidated Hallmark Insurance Plc * FY 2016 net premium earned 3.51 billion naira versus 3.19 billion naira year ago * FY 2016 profit before tax & exceptional items 368.1 million naira versus 704.9 million naira year ago * Proposed dividend of 2 kobo per share […]
FBN General earns customers’ trust, grosses N2.2bn premium in 2016
Opadokun Leave a comment and share Chuks Udo Okonta FBN General Insurance, has continued on a remarkable upward trajectory in the Nigerian insurance industry, as its audited accounts approved by the National Insurance Commission (NAICOM) revealed that it grossed a premium of N2.2 billion up by 17.4 per cent from […]
How to get more Ugandans buy insurance
Ibrahim Kaddunabi, Miriam Magala and Mustapha Mugisa By Isaac Khisa Insurance regulator, experts share views at high profile meeting in Kampala How do you convince more Ugandans to buy insurance? That was the main issue discussed during a breakfast meeting for the country’s insurance firms held at Kampala Serena Hotel […]
Insurers’ N300m rebranding project stalled
Indications have emerged that Insurers’ Committee comprising the National Insurance Commission (NAICOM) and Chief Executive Officers (CEOs) of 58 insurance companies cannot raise N300 million for the industry’s rebranding project aimed at deepening insurance awareness and penetration. The cash was meant to fund the project for massive insurance education and […]
Fraud forces insurers to step up e-payment
By Favour Nnabugwu INSURANCE companies in the country have stepped up measures to starve off fraud in the industry arising from cash transactions. The companies now prefer customers to pay through Point of Sale (PoS) terminals at their various locations and agency offices. For instance, AIICO Insurance Plc, said it […]
Distribution channel: NAICOM to sign MoU with CBN on Monday, woos PFAs
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM), as parts of its drive to create more distribution channels for insurance, hopes to sign Memorandum of Understanding with the Central Bank of Nigeria (CBN) tomorrow Monday. Inspen gathered that the insurance regulator, is also wooing Pension […]
New maritime law fails to excite re-insurance firms
Kenya Re Managing Director Jadiah Mwarania. 14/06/2016. Photo by WILLIS AWANDU Reinsurance companies say they have little to smile about in the wake of the new marine insurance law. This is because the law, contained in Section 20 of the Insurance Act that makes it mandatory for local cargo importers […]
FG, Underwriters Optimistic About N1trn Insurance Premium Target
Operators in the insurance industry have expressed optimism that the federal government’s target of N1 trillion insurance premium income is realisable. They, however, differed on 2017 as the set year based on some key factors. Managers of insurance companies who spoke exclusively to LEADERSHIP Sunday noted that the total premium […]
