BY STEPHEN CRANSTON It’s been a long six weeks and the life offices have finally ended their mid year reporting season. Like those of all the major banks, the share prices of the life insurers are all down year on year, with two exceptions: Sanlam and Rand Merchant Investment (RMI) […]
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SIC Insurance wins Best Insurer award for 2015
Osabarima Ansah Sasraku (right), Board Chairman, Ghana Reinsurance Company Limited, presenting the General Business (2015) award to Mr Eric Kwabena Sarpong (middle), Head of Reinsurance, Ghana Union Assurance, at the Ghana Reinsurance awards ceremony held in Accra. Picture: KWABENA ASAMOAH ADDAI CHARLES ANDOH SIC insurance company limited has been adjudged […]
Royal Exchange posts N10.79bn gross premium in 2015
From left: Company Secretary, Royal Exchange plc, Sheila Ezeuko; Chairman, Kenneth Odogwu and Group Managing Director. Auwalu Muktari at the event. Leave a comment and share Chuks Udo Okonta Royal Exchange Group posted a gross premium income of N10.79 billion in 2015, its Chairman, Kenneth Odogwu, has said. He disclosed […]
Insurers incur N294.90bn mgt expenses in 5 yrs
NIA Chairman, Eddie Efekoha Leave a comment and share Chuks Udo Okonta Insurance operators spent over N294.90 billion on management expenses in five years, Inspen can report. It was gathered that the expenses incurred between 2010 to 2014 were made on underwriting, salaries, rents, commission to agents and more. A […]
Morocco’s Saham Finances buys Mauritian insurer Sun Insurance
RABAT, (Reuters) – Moroccan insurance company Saham Finances has bought Mauritian insurer Sun Insurance Co Ltd for an undisclosed sum, the Moroccan company said in statement on Wednesday. The deal is the latest expansion by Saham Finances in Africa and follows its acquisition of a 40 percent stake in Nigeria’s […]
ZEP-RE launches insurance academy
Rajni Varia, CEO, ZEP-RE (left) and Sammy Makove, Commissioner of Insurance during the launch of the ZEP-RE Academy in Nairobi. (PHOTO: COURTESY) ZEP-RE has launched an academy to train local and regional insurance executives. The ZEP-RE Academy, the first of its kind on the African continent, has been established in […]
Tough Times for Mutual Benefits Assurance
High operating costs and other headwinds have depressed the profits of Mutual Benefits Assurances for half year ended June 30, 2016, writes Goddy Egene Times are hard right now due to the challenging economic situation. Cost of living is getting higher as inflation continues to rise and has crossed 17 […]
NAICOM accuses shareholders over wrong choice of directors
Kari Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has blamed shareholders of insurance companies for showing little concern about the professional competence of directors selected on the boards of most firms. According to the commission, the wrong choice of directors, had caused setbacks for […]
Recession: Brokers told to invent multiple streams of business ideas
From left: Vice President, Nigerian Council of Registered Insurance Brokers (NCRIB), Dr. (Mrs.) Bola Onigbogi; Lagos State Commissioner for Housing, Hon. Gbolahan Lawal; President, NCRIB, Mr. Kayode Okunoren and Managing Director, Niger Insurance Plc, Mr. Kolapo Adedeji at August Edition of NCRIB Members’ Evening at NCRIB Secretariat, Yaba Leave a […]
Fitch: UK Motor Insurance Premiums to Keep Rising in 2H16
(The following statement was released by the rating agency) Link to Fitch Ratings’ Report: UK Non-life Company Market Insurance Dashboard – 1H16 Results here LONDON, September 15 (Fitch) Fitch Ratings says that UK motor insurance premiums will continue rising because the levels of reserve releases that have supported profitability in […]
