NAME OF COMPANY STATUS (2015 FS) 1 Wapic Life Assurance Ltd Approved 2 FBN General Insuance Approved 3 Wapic Insurance Plc Approved 4 Ensure Insurance Plc Approved 5 FBN Insurance Ltd Approved 6 Law Union & Rock Insurance Company Plc Approved 7 Mansard Ins PLc Approved 8 Custodian and Allied […]
Spotlight
Local indigenous investors explore Nigeria’s insurance market
As more foreign investors venture into the insurance sector, some local firms with huge potential have also shown readiness to add value to the growth of the industry About 18 insurance broking firms and one underwriting company applied to the National Insurance Commission in 2015 to obtain new licences to […]
Insurer AXA to pull out of tobacco investments
French insurer AXA (AXAF.PA) plans to stop investing in the tobacco industry, citing the impact of smoking on public health, and said it plans to sell its 1.8 billion euros ($2.02 billion) of assets in the sector. AXA said it would divest its 200 million euros of equity holdings in […]
Ecobank and Old Mutual announce enhanced strategic agreeement
PRESS RELEASE – Ecobank Transnational Incorporated (ETI)(http://www.Ecobank.com), parent company of the Ecobank Group, and Old Mutual Emerging Markets (OMEM) (https://www.OldMutual.com), a part of the Old Mutual Group, today announced an enhanced strategic agreement that will strengthen existing ties between the leading pan-African bank and the insurance and asset management giant. […]
Access Bank partners WAPIC, Ghana Life for Bancassurance
Access Bank Ghana has partnered Wapic Insurance and Ghana Life Insurance companies to launch innovative insurance products for consumers in Ghana, In line with its strategy to build capacity in retail banking. The launch, which follows the signing of a strategic partnership agreement between Access Bank and the two insurance […]
Top 5 most complained about insurance products in South Africa
The Ombudsman for Short-Term Insurance has revealed the types of insurance vehicles that receive the most complaints. According to the Ombudsman’s annual report in 2015‚ the watchdog recovered in excess of R100 million for consumers from the short-term insurance industry. It said that total of 9‚784 complaints against short-term insurers […]
It’s prison for insurance agent in $1M scam
A former insurance agent from Essex County was sentenced to six years in state prison on Wednesday for filing hundreds of phony life insurance applications to score commission fees. Authorities say Stanley Jerome, 33, pulled in commissions and bonuses totaling $1,132,675 in the scheme, which included paying low-income people for […]
Mobile Phones to modernise insurance sector
Mthulisi Sibanda — MOBILIFE, the new financial services provider, has officially entered the insurance space with a number of innovations it hopes will transform the industry. The company has launched FoodSurance, said to be the first life cover in Africa that will pay out a weekly grocery voucher to families […]
Inspenonline unveils nominees for 2015 insurance, pension awards
The management of Inspenonline, Nigeria’s premier Insurance and Pension online news channel, has unveiled the nominees for 2015 Nigerian Insurance and pension awards. A statement by the Publisher/Editor-in-Chief, Chuks Udo Okonta, said 18 firms drawn from the insurance and pension sectors have been selected for various categories and will be […]
Pension Insurance Corp completes $1.3 bln pension deal for Aon
British specialist insurer Pension Insurance Corp (PIC) has completed a 900 million pound ($1.30 billion) pension buy-in deal for insurance broker Aon, it said on Thursday. In a buy-in, the insurer takes on a portion of the risk of a defined benefit, or final salary, pension scheme. China’s Legend Holdings […]
