Chief executive cites setbacks such as losses after Tianjin explosions and aborted takeover of RSA Aftermath of explosions in Tianjin, China. Zurich lost $275m in the disaster, in which 173 people died. Photograph: Wu Hong/EPA The chief executive of Zurich Insurance has stepped down after a series of mishaps that […]
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How to curb insurance premium decline – CIIN DG
Leave a comment Chuks Udo Okonta The consultation of market leaders before undertaken a new risk would help stem the continuos slide of premium, the Director-General Chartered Insurance Institute of Nigeria (CIIN) Kola Ahmed, has said. He told Inspen in an interview that the absence of market leaders in the […]
Finally, Life Insurance For People Living With HIV
Prudential Financial Inc., one of the nation’s largest life insurers, this week plans to announce that it will offer traditional individual policies to eligible people living with HIV, a condition that for decades has excluded most of them from any but the skimpiest of coverage, company officials said. It is […]
AXA hikes stake in insurance JVs to 49 percent
(IANS) Global insurance and asset management major AXA Group on Tuesday said it has hiked, to 49 percent, its stake in life and general insurance joint ventures with its Indian partner Bharti Enterprises. AXA Group escalated its stake from 26 percent to 49 percent in life insurance Bharti AXA […]
Tenure for MDs: Broking firms registered in owners names to get respite
Leave a comment Chuks Udo Okonta Insurance broking firms registered in the names of their owners may not be affected by the proposed 10 years tenure for Managing Directors, Inspen has learnt. It was gathered that this window was created by the National Insurance Commission (NAICOM) to assuaged aggrieved brokers […]
Wake up to your responsibility, Adeosun charges NAICOM
By Favour Nnabugwu The Minister of Finance, Mrs Kemi Adeosun, on Friday advised the National Insurance Commission (NAICOM) to rise up to its responsibilities and explore untapped potential. Adeosun made the call at a retreat marking the five years of NAICOM’s existence in Abuja. The minister, who was represented by […]
‘Mis-selling rampant in the insurance sector’
: Insurance Ombudsman P.K. Vijayakumar said that mis-selling of policies to people, mostly uneducated and poor, is rampant in the insurance sector. Talking to the Hindu at his office, Mr. Vijayakumar identified attempts by insurance companies, mostly in the private sector, to deny death claims on flimsy grounds as another […]
Govt to tax insurance brokers’ commission
COMMISSION earned by insurance brokers from transactions with insurance and reinsurance companies will now be liable to taxation under the new budget. BY TATIRA ZWINOIRA The new tax requirement was announced by Finance minister Patrick Chinamasa during his presentation of his 2016 National Budget last Thursday. Speaking at a meeting […]
Insurance operators to be sanctioned by CIIN over exam infraction
Leave a comment Chuks Udo Okonta The hammer of the Chartered Insurance Institute of Nigeria (CIIN) will soon drop on insurance operators who have been found culpable of examination misconducts, Inspen can authoritatively report. It was gathered that the Governing Council of the Institute having examined the report presented by […]
CIIN holds 2015 Christmas carol on Dec.17
Chuks Udo Okonta The 2015 Christmas carol of the Chartered Insurance Institute of Nigeria (CIIN) will hold on Thursday, December 17, 2015, at the All Saints’ Anglican Church Montgomery Road, Yaba, Lagos and time 11:00am. The annual service of nine lessons for members of the institute, friends and associates is […]
