By Rosemary Onuoha Insurers have been forced to cough out over N11 billion to settle all outstanding claims in their books, owed consumers for over three years running, Vanguard investigation reveals. Following the directive given to insurers late last year by the National Insurance Commission, NAICOM, to wipe out all […]
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NAICOM eyes self-employed job for insurance professionals
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) said it would leverage the planned staggered licence for microinsurance and takaful operations, to provide opportunities for dogged insurance professionals to set-up their underwriting firms, Inspen can report. The Commissioner for Insurance Mohammed Kari, said the planned […]
NGO advocates free health insurance for ‘Kayayes’
A local NGO, dedicated to the protection of the rights of vulnerable girls and women, ‘Society for Women and AIDS in Africa (SWAA) – Ghana’, is advocating free health insurance for female head porters, popularly referred to as, ‘kayayes’. Mrs. Elsie Ayeh, its Ashanti Regional Coordinator, said this was important […]
German Insurer Allianz to Pull out of Korea
Germany’s Allianz, the world’s top insurance company, is pulling out of the Korean market after selling Allianz Life Insurance Korea to China’s Anbang Insurance Group at a cut-rate US$3 million. Anbang announced the deal on Wednesday on Chinese messaging app WeChat. The sales price came as a shock to industry […]
Ethiopian parliament ratifies bill to join regional insurance agency
The Ethiopian national parliament on Wednesday ratified a draft bill allowing Ethiopia to join the African Trade Insurance Agency (ATIA). Chairperson of Parliament’s Budget and Finance Affairs Standing Committee, Genet Taddese, said joining the African Trade Insurance Agency enables the country to offer political and trade credit risk insurance services […]
‘Panama Papers’ leak details ties to insurance fraud in boat tragedy
By Mark A. Hofmann A case of insurance fraud involving a fatal boating accident in upstate New York is cited in the so-called “Panama Papers” that detail the use of offshore accounts and shell companies by politicians and others, some of whom are allegedly engaged in money laundering. The papers, […]
Insurers Groan Under Harsh Business Climate
By Ebere Nwoji The first quarter of the year 2016, was a very bad period for the insurance industry given a number of negative factors that adversely affected operators. For the insurance sub sector of the economy, the first quarter of the year 2016, was a mixture of rough, tough […]
Insurance companies more dangerous to the economy than ever – IMF
By Caitlin Bronson An international body is urging greater regulation on insurance companies, arguing that carriers pose a greater risk to the global financial system now than they did before the financial crisis. In a new report, the International Monetary Fund suggests that insurers – particularly life insurers – play […]
NCRIB mourns exit of Balogun
Leave a comment and share Chuks udo Okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) the umbrella body of all registered insurance brokers in Nigeria, has bemoaned the demise of one of the pioneer members and founders of the Council, Late Chief Tunde Odutola Balogun who died recently at […]
Regulation Is Transforming Africa’s Insurance Sector – KPMG
Chika Izuora There are serious indications to suggest that the insurance industry in Africa and in particular South Africa are being transformed, according to KPMG’s South African Insurance Survey 2015. The survey says, some of the changes in South Africa’s insurance sector have been as a result of regulatory and […]
