After meritorious years of service culminating into 21 years, the amiable and indefatigable Managing Director/Chief Executive Officer of Sovereign Trust Insurance Plc, Mr. Wale Onaolapo finally takes a bow. An astute and thoroughbred Professionalin every sense of the word, Wale Onaolapo joined the company from inception in 1994 as an […]
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FG to pay over N10bn premiums owed insurance companies
The Federal Government has promised to offset outstanding premiums owed the insurance industry as soon as the economic situation of the country improves. Cumulative premium on group life insurance owed the insurance industry by the Federal Government is said to be in excess of N10 billion. Minister of Finance, Mrs […]
CIIN donates insurance textbooks to Rivers, Imo States
Press release Insurance practitioners converged last Thursday at Golden Tulip Hotel, Port Harcourt, Rivers Statefor the 43rd edition of the CIIN Annual Education Seminar organized by the Chartered Insurance Institute of Nigeria (CIIN). The Seminar with the theme: “Synergizing Branch Operations and Insurance Awareness”, focused on the roles of Branch […]
Government’s funding of insurance is haphazard – NAICOM
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) has alleged that government’s funding of insurance over the years have been haphazard, hence, canvassed a change of attitude to insurance. The Commissioner for Insurance Mohammed Kari, disclosed this at a forum in Abuja, stressing that there is low […]
Inauguration of insurers committee elicits reactions
Leave a comment Chuks Udo Okonta Stakeholders in the insurance industry have expressed concern over the formation of Insurers Committee saying it is a duplication of functions of existing bodies such as the Nigerian Insurers Association (NIA) and Insurance Industry Consultation Committee. Although the National Insurance Commission (NAICOM) has said […]
FG remains adamant to insurance growth
Leave a comment Chuks Udo Okonta Yesterday’s inauguration of the Insurers Committee has further exposed the value the federal government places on the insurance industry as dignitaries at the event who have anticipated the presence of the newly appointed Minister of Finance Mrs Kemi Adeosun were disappointed when she sent […]
NAICOM to Adopt Name-and-Shame Policy for Erring Insurance Operators
• FG inaugurates insurers committee James Emejo in Abuja The Commissioner for Insurance/Chief Executive, National Insurance Commission (NAICOM), Mr. Mohammed Kari, on Thursday hinted that his agency would adopt the name-and-shame policy in trying to restore sanity to insurance practice in the country. He said the proposed strategy would among […]
Shareholders decry excessive charges by NAICOM
Shareholders Association of Nigeria in the Insurance sector have decried excessive charges by the National Insurance Commission (NAICOM). Towards this end, the shareholders under Dynamic Shareholders Association Nigerian (DSAN) appealed to the federal government to review excessive charges by the body on insurance companies. Thisday reported that the group at […]
NAICOM takes issues of insurance law, taxation to FG
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) on Thursday sought the intervention of the Federal Government on two major issues – enactment of insurance law and excessive taxation which are stemming insurance growth. The Commissioner for Insurance Mohammed Kari, made the demand at the […]
SA Insurance pays N1.5bn claims, earns ‘BBB’ rating
Chuks Udo Okonta Standard Alliance Insurance Plc said it paid a consolidated claims amounting to N1.5billion in its nine months’ operations in 2015 just as it has received a ‘BBB’ rating from the South Africa-based Global Credit Rating (GCR) in recognition of its ability to settle verified claims promptly. […]
