Hadi Sirika, Minister of State for Aviation By Abdullateef Aliyu There is unease among domestic airlines in Nigeria following threat by Lloyd’s of London, the world’s leading insurance market, to blacklist them over irregular payment of premiums. It was learnt that representatives of Lloyd’s of London market were in Nigeria […]
Spotlight
17 Insurance Firms Battle Regulatory, Financial Issues, Unable To Hold AGM
By ZAKA KHALIQ As public and private companies across the country close their financial books for 2016, about 17 insurance companies, some of who were publicly quoted on the floor of Nigerian Stock Exchange(NSE), were unable to conduct their 2015 Annual General Meeting(AGM), LEADERSHIP exclusively learnt. Investigation shows that the […]
Continental Reinsurance Appoints new Chairman
Leave a comment and share Chuks Udo okonta Continental Reinsurance Plc has announced the appointment of Chief Ajibola Ogunshola as the new Chairman of the Board. The appointment took effect on November 8, 2016. He succeeds Mrs. Nadia Fettah who was recalled by C-Re Holding Ltd. Commenting on his appointment, […]
Recession: Lloyds threatens blacklist of Nigerian airlines
By Lawani Mikairu Lloyds of London, the world’s leading insurance market, has warned Nigerian airline operators that it might be forced to blacklist Nigerian airlines due to failure of some operators to pay their premiums to the insurer regularly. Airline Operators of Nigeria, AON, Chairman, Captain Nogie Meggison who disclosed […]
STACO Insurance Pays N1.445bn Claims in Third Quarter
The third quarter results released by STACO Insurance Plc revealed that the company has paid the total sum of N1.445 billion Claims to her various clients between January and September 2016. This is about 9.1 per cent increase in claims paid compared with the corresponding period of 2015 where the […]
Economic impasse pushes insurance claims up
Efekoha Leave a comment and share Chuks Udo Okonta The economic situation has forced insurance companies to pay out more claims this year compared to previous years, the Chairman, Nigerian Insurers Association (NIA), Eddie Efekoha, has said. He said this at a media parley in Lagos, adding that the exchange […]
A.M. Best Affirms Credit Ratings of AXA Mansard Insurance Plc
LONDON–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of AXA Mansard Insurance Plc (AXA Mansard) (Nigeria), the majority-owned subsidiary of AXA S.A. (AXA). The outlook of these Credit Ratings (ratings) is positive. The positive outlook of […]
NIA calls for payment of premium as FG reviews group life insurance scheme
Thomas Leave a comment and share Chuks Udo Okonta As the Federal Government plans to review the current Group Life Assurance Scheme from an annual policy to a long term policy, the Nigerian Insurers Association (NIA) has said payment of premium is most critical for the plan to be successful. […]
A.M. Best Affirms Credit Ratings of Custodian and Allied Insurance Limited
LONDON–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb” of Custodian and Allied Insurance Limited (CAI) (Nigeria). The outlook of the FSR remains stable whilst the outlook for the Long-Term ICR remains positive. CAI is the […]
Royal Exchange General Insurance pays N1.68bn claims in third quarter 2016
Agili Leave a comment and share Chuks Udo Okonta Royal Exchange General Insurance Company, (REGIC), one of Nigeria’s foremost underwriter with a focus on General and Special Risks, says it paid N1.683 billion as claims to clients as at the end of third quarter 2016. The Managing Director of REGIC, […]
