Toby Nwazor UK’s recent budget has seen an increase in insurance premium tax (IPT) by 0.5%, taking the current rate to 10% in order to raise over £700 million for much needed flood defence in the UK. The tax on sugary drinks is equally supposed to raise an additional £520. […]
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Dearth Of Manpower Bane Of Insurance Growth – CIIN
The Chartered Insurance Institute of Nigeria (CIIN) said it will partner with Ahmadu Bello University, Zaria to address the dearth of manpower in the insurance industry. The newly elected Chairman, Kaduna State Chapter of the institute, Mr Olugbenga Ogunsanya stated this shortly after being sworn in. According to him, the […]
Only 300 insurance broking firms have valid licences – NAICOM
Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) has said only 300 insurance broking firms have valid licences to operate. The names of the firms qualified to broker insurance business are published on the website of the commission. The Commission in December 2015, published the […]
Allianz to sell $5 billion life insurance portfolio in Italy – sources
By Pamela Barbaglia German insurer Allianz (ALVG.DE) is looking to sell a $5 billion portfolio of life insurance policies in Italy, sources familiar with the matter has said. Europe’s biggest insurer has picked Goldman Sachs (GS.N) to run the sale of the closed life policies, which no longer accept new […]
Micro insurance company launches education campaign
BIMA, a micro-insurance agent has launched a campaign aimed at educating Ghanaians on the benefits of insurance. This is part of the company’s vision to revolutionize the insurance industry by making life insurance affordable and accessible for the ordinary Ghanaian. The micro insurance campaign is funded by BIMA, Leadfrog Labs […]
East Africa’s Largest Insurance Firm Eyes Congo, Ethiopia And West Africa
Jubilee Insurance Chairman Nizar Juma By Kevin Mwanza Kenyan-based Jubilee Insurance, the biggest insurance services provider in East Africa, plans to expand to the Democratic Republic of Congo, Ethiopia and undisclosed countries in West Africa, a top official said on Thursday. The insurance firm, which already operated in five African […]
UK insurer Aviva doubles CEO’s pay to $8 mln in 2015
British insurer Aviva more than doubled chief executive Mark Wilson’s pay to 5.67 million pounds ($8.1 million) last year, from 2.6 million in 2014, after the purchase of rival Friends Life, Aviva’s annual report showed. Aviva completed the 5.6 billion pound acquisition in April 2015, creating a market leader in […]
UIF clampdown coming
By: Siyabonga Mkhwanazi The Unemployment Insurance Fund wants to clamp down on employers who fail to declare their employees to the fund and the South African Revenue Service (Sars), with Parliament set to approve the UIF Amendment Bill. Senior principal legal officer at the fund Cornelius Phathela told journalists at […]
Old Mutual readies sale of Italian wealth unit – sources
Financial services company Old Mutual is preparing to sell its Italian wealth management unit as part of a wider plan to break up its business, cut costs and revamp earnings, sources familiar with the matter said on Thursday. The Anglo-South African group, which has been present in Italy since 1997, […]
Presidency directs HoS, NAICOM to protect govt’s assets
The Presidency has directed the Head of Service to work with the National Insurance Commission (NAICOM) to ensure adequate protection of government’s assets. The directive was made through a letter signed by the Chief of Staff to President Muhammadu Buhari. According to the source, the Head of Service has been […]
