(The following statement was released by the rating agency) LONDON, March 03 (Fitch) The review of closed-fund life insurance policies by the UK Financial Conduct Authority will make these policies less profitable and could lead to more insurers attempting to sell their closed funds to specialist managers, Fitch Ratings says. […]
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Apprenticeships come to insurance and financial services industries
Dane Lyons, an apprentice at Zurich North America, is photographed March 7, 2016, in Zurich’s Schaumburg offices. Lyons, 37, had been working in car sales but began the two-year insurance internship in January. (Stacey Wescott / Chicago Tribune) Apprenticeships, long a tool of the construction trades, are getting a good […]
Prudential Financial to Invest $350m in African Insurers, To Be Managed by LeapFrog
Prudential Financial Incorporated, a US-based financial services company, recently announced a three- to five-year investment of USD 350 million in life insurance companies in African countries such as Ghana, Kenya and Nigeria. The investment will be managed by LeapFrog Investments, a for-profit private equity fund that is based in Mauritius […]
Old Mutual shares jump 11% on potential break-up
The price of Old Mutual shares has jumped by 11 per cent in initial London trading and by 12 per cent in Johannesburg. News broke over the weekend that the company was considering whether to break up into its four constituent parts, which include an asset manager and an African […]
Wapic Insurance Group Appoints Managing Directors
The Board of Directors of Wapic Insurance Plc has announced the appointment of Mrs. Adeyinka Adekoya as the Managing Director/Chief Executive Officer of the company. The board also approved the appointment of Mr. Rantimi Ogunleye as the Managing Director of Wapic Life Assurance Limited. The company in a statement stated […]
IEI donates books to schools in Ogun State
From Left: The Honorable Commissioner for Education, Science and Technology for Ogun State Mrs Modupe Mijota and The Group Head, Business Development, IEI Plc, Mr Dele Oyetunji when IEI Plc donated Fifteen Thousand pieces of Exercise Books to School children in Public schools at the Ogun State Secretariat, Abeokuta. Leave […]
FBNInsurance sensitizes retirees on annuity
From left: Alhaji S. A. Olonade, Mrs. Mobonike Ogundipe, Adekunle Adeola, Head of Actuarial Services/ERM/Annuity and Valentine Ojumah, MD/CEO, FBNInsurance Limited at the FBNINSURANCE annuity seminar held in Lagos. Leave a comment and share Chuks Udo Okonta In keeping with her brand promise of helping her clientele “create and grow […]
FCTA to Drag Leadway, Lasaco, eight others to Anti-Graft Agencies
By Jaiyeola Andrews The Federal Capital Territory Administration (FCTA) has threatened to report some insurance firms involved in its Group Life Assurance scheme to the anti-graft agencies for their failure to settle indemnity claims to the several deceased staff. The FCT Permanent Secretary, Dr. Babatope Ajakaiye, handed out the threat […]
NAICOM woos micro insurance investors with low cost licences
Kari Leave a comment and share Chuks Udo Okonta We are encouraging investors to come and get smaller type of licence that would enable them operate in small areas, the Commissioner for Insurance, Mohammed Kari, has said. He told Inspen that the commission hopes to bring down the licence fee […]
IGI pays N2bn claims, promises improved service
Leave a comment and share Chuks Udo Okonta As part of efforts to improve its services and strengthen public confidence in the company, The Industrial And General Insurance Plc (IGI) has paid out N2 billion as claims to various categories of policyholders. Disclosing this in a statement at the weekend, […]
