Leave a comment Chuks Udo Okonta The Lagos State Pension Board (LASPEB) has disbursed a sum of N649 million to 119 retirees in the state for the month of January 2016. A statement from the Spokesperson, LASPEC, Mrs Ajoke Lawal, said the beneficiaries are workers in the Mainstream Service, Local […]
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NAICOM gives lifeline to brokers with lapsed licences
Circular REQUIREMENTS FOR RE-REGISTRATION OF AN INSURANCE BROKER WITH LAPSED LICENCE An Insurance Broker whose licence has lapsed and wishes to re-register under the same name shall comply with the following requirements: Phase 1. Letter of Appeal giving reasons why the last licence lapsed and payment of non-refundable fee (N250,000.00) […]
World’s Top 10 Insurers Ranked by Premium, Assets
The world’s largest insurer as measured by 2014 net premiums written is UnitedHealth Group Inc., according to a ranking by A.M. Best of the world’s largest insurance companies. France’s AXA S.A. kept its top spot among global insurers ranked by assets, but fell to No. 2 by net premiums written […]
Almond finance and wealth report debuts on BCOS TV Ibadan
Ughwode Leave a comment Chuks Udo Okonta Almond Productions Limited producers of Almond Finance and Wealth Report on television and Wetin Insurance Dey Do Sef on Radio said it is expanding its viewership strength to Ibadan and environs. A statement by the Chief Executive Officer (CEO) Ms. Faith Ughwode, said […]
Insurance Bill in Parliament seeks to regulate microinsurers
BY LINDA ENSOR THE Insurance Bill, tabled in Parliament on Friday, will introduce a regulatory framework for microinsurers and a consolidated legal framework for the prudential supervision of insurers, the bill’s memorandum says. The bill introduces a new solvency assessment and management regime to ensure the financial soundness of insurers, […]
South Africa’s Liberty buys control of Ugandan short-term insurer
JOHANNESBURG (Reuters) – South Africa’s Liberty Holdings has bought a controlling stake in a short-term insurer in Uganda for an undisclosed sum, pursuing its strategy of expanding on the African continent. The deal gives Liberty a 51-percent stake in Madhvani Group’s short-term insurer, East African Underwriters Ltd (EAUL). EAUL provides […]
Why you should insure your spouse
Taking out life or funeral insurance on your spouse is often seen as a sinister move or the ‘elephant in the room’ among couples For this and other reasons, spouses tend to neglect this responsibility, exposing their families to unnecessary financial risk. Lee Bromfield, CEO of FNB Life, said this […]
THE IMPACT OF A WEAK RAND ON INSURANCE BROKERAGE FEES
By: Trust Matsilele The weakening rand is hurting South Africa’s insurance industry and the short-term sector is the most affected, this is according to industry players. Those in the sector say insurance companies dealing with motor vehicles are feeling the impact especially in cases where car parts need to be […]
Ghana is one of most attractive African countries for insurance industry growth – EY study
Ghana is one of the African countries with the most attractive mix of risk and opportunities for the insurance industry, a survey of seven key markets in East and West Africa by EY (Ernst & Young) has found. The survey examined 125 insurance executives and regulators in the East African […]
Nigeria’s Economic Growth hinges on Insurance Development -Okunoren
“Strategies for reviving Nigeria’s economy would achieve desired result if greater premium is placed on the insurance industry’s growth by government.” This assertion was made by the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Kayode Okunoren at the Council’s Secretariat in Lagos. According to him, aside from […]
