By Nurunnasihah Ahmad Rashid The Code of Practice on Personal Data Protection Act (PDPA), launched, is expected to further boost the consumer confidence in the integrity of the insurance and takaful industry. The code is an initiative by three associations — Life Insurance Association of Malaysia (LIAM) Persatuan Insurance Am […]
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South Africa’s Liberty to buy 75 pct stake in UNIC insurance for $12m
South Africa’s Liberty Holdings will acquire a 75 percent stake in a Nigerian long-term insurer, UNIC Insurance Plc for 160 million rand ($12 million), the company said on Friday, pursuing its strategy of expanding in the region. Liberty has been expanding beyond its home base to parts of Africa, where […]
Self-driving cars must be covered by insurance, says UK bill
Media captionWatch: Driverless cars are already being tested in the UK Insurance cover for self-driving cars must offer protection for both times when the driver is in control and when the vehicle is in charge, according to new proposals from the UK government. The measures are outlined in the Vehicle […]
Allianz launches operations in Morocco
By Louie Bacani Not too long after insurance giants RSA and Aon announced their expansion moves in Africa, another industry heavyweight has increased its presence on the continent. Major insurer Allianz has officially entered the Moroccan market with the launch of a new company. Allianz Maroc began its operations on […]
Taxation Of Insurance Business – Restating The Case For Legislative Review
Article by Deloitte Nigeria One of the major objectives of the National Tax Policy (NTP) is to ensure fairness and equity, in order to imbibe a tax culture where taxpayers are regarded as the custodians of our commonwealth and enhance the Nigerian business environment. With such laudable goals, the question […]
Political Instability and Financial Volatility Remain Key Headwinds for Italian Insurers
LONDON, UK – FEBRUARY 2017 – Italy’s volatile financial and political environment will pose challenges for the domestic insurance sector in 2017, principally due to the potential impact on investment portfolios, according to A.M. Best. In a new Best’s Briefing, titled, “Political Instability and Financial Volatility Remain Key Headwinds for […]
PFAs Invest N482 Billion of Pension Assets in Equities Market
By Goddy Egene The value of pension assets invested in the Nigerian equities market rose to N481.8 billion at the end of November, up from N445.88 billion in January 2016. The assets under management of the Nigerian pension industry stood at N6.02 trillion as at the end of November, according […]
A New Risk Sharing Facility to Lower Premiums for Africa’s Farmers
The World Bank Group’s Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) have entered into an agreement to carry out a risk-sharing facility, in form of an experience account, to decrease premium levels for insured farmers and encourage local companies to create affordable insurance products. “Agriculture provides […]
Uk insurer RSA expands coverage in Africa
UK insurer RSA has extended its partnership with the Africa-based insurance network Globus to five more territories in the region. Headquartered in Douala, Cameroon, Globus is an insurance network comprising members in 46 countries in Africa. The partnership will enable RSA Global Network to provide insurance services to customers with […]
KPMG: Consolidation Will Transform Insurance Sector
Nume Ekeghe The Partner Audit Services and Insurance Sector, KPMG, Mr. Kabir Okunlola has said that a consolidation exercise for the insurance sector would help increase investor appetite and generally transform the industry. Okunlola, who made the remark in an interview with THISDAY on Monday, revealed that the federal government […]
