The Namibia Financial Institutions Supervisory Authority (Namfisa) says it is aware of complaints against South African furniture franchise, Lewis. Lewis has been accused of acting as an intermediary for products regulated by the Long-Term Insurance Act, while it is not registered under the Act to do so. Namfisa says investigations […]
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Report ranks Kenya high as potential market for insurers
Kenya’s positive growth, rising consumer demand, population and new technology make it attractive for African insurance companies outside South Africa. This was revealed in a report launched yesterday by consultancy firm Ernst & Young (EY). The report titled Waves of Change: Insurance opportunities in Sub-Saharan Africa compares insurance markets in […]
Now that NAICOM, insurers are one
Members of the committee The inauguration of the Insurers’ Committee has brought the National Insurance Commission (NAICOM) and insurance operators on the same page to pave way for issues in the industry to be fully deliberated before implementation. Chuks Udo Okonta in this report examines the benefits of the union […]
A Canadian corporation is busting insurance fraud with social media
The Insurance Corporation of British Columbia (ICBC) is making extensive use of social media to find people who have made fraudulent insurance claims. Last month, Digital Journal reported the ICBC’s top insurance frauds of 2015 or its 2015 Hall of Shame. These consisted of false or exaggerated claims as well […]
Universal Insurance to host brokers
Okunoren Universal Insurance Plc is to host Insurance Brokers under the aegis of the Nigerian Council of Registered Insurance Brokers (NCRIB) on Tuesday, February 23, 2016 in Lagos. According to a release issued by the Public Relations and Communication Department of the NCRIB, Universal Insurance Plc would reap tremendous gains […]
South Africa’s Santam flags FY profit jump, shares rise
South African short-term insurer Santam said on Tuesday it expects to post increased full-year profits, partly due to improved sales, sending its shares higher. The unit of long-term insurer Sanlam flagged a rise of up to 30 percent in headline earnings per share (EPS) to 1,880 cents for the year […]
Life policies on the rise as incomes improve – insurer
Jubilee Insurance CEO Patrick Tumbo. Photo/File By MERCY GAKII UPTAKE of life insurance is on the rise and is set to challenge that of general insurance products as income levels rise, according to an expert in the industry. Jubilee Insurance chief executive Patrick Tumbo said an increasing middle class and […]
BRIEF-African Alliance Insurance says qtrly net premium income 4 bln naira
African Alliance Insurance Plc : * Quarter ended Sept 30, 2015 group loss before tax of 265.6 million naira versus profit of 1.02 billion naira last year * Says for quarter ended Sept 30, 2015 group net premium income 4 billion naira versus 3 billion naira last year Source text: […]
WAICA Re targets integration with Cote d’Ivoire office
Nike Popoola WAICA Reinsurance Corporation Plc said it was achieving regional integration with the setting up of offshore contact office in Abidjan, Cote d’Ivoire. The Managing Director, WAICA Reinsurance Plc, Mr. Abiola Ekundayo, said this during the opening of the contact office of WAICA Reinsurance Corporation Plc in Abidjan, Ivory […]
New insurance mandate for autism treatment lifts families’ financial burden
Abbey Ripper was diagnosed with autism at 3 years old, although her parents had realized early in her infancy that she was different from other babies. At an age when most teenagers aggressively assert their independence, Abbey – now 14 – needs round-the-clock care. She struggles to dress and bathe […]
