Reuters American International Group said it would spin off its mortgage insurance unit and sell its broker-dealer network as part of the sweeping changes it has been promising shareholders as it fends off activist investor Carl Icahn. The insurer also said on Tuesday it would cut $1.6 billion of costs […]
Spotlight
Spain Court Finds Captain, British Insurer Liable For Prestige Oil Spill
Reversing an earlier court decision acquitting the captain Apostolos Mangouras, it sentenced him to two years in prison. (Representational Image) Madrid, Spain: Spain’s Supreme Court said today it had found the captain, the British insurer and the owner of the Prestige tanker that sank in 2002 liable for a devastating […]
Brokers decry inadequate insurance input in govt policies
Leave a comment Chuks Udo Okonta The Nigerian Council of Registered Insurance Brokers (NCRIB) has called on the Federal, State and Local Governments to solicit insurance input in their policies to forestall financial wastages. Its President Kayode Okunoren, who disclosed this in Lagos, said governments often bundle themselves with financial […]
One in five home insurance claims rejected
By Kevin Peachey Personal finance reporter More than one in five home insurance claims is unsuccessful owing, in part, to the complexity of policies. Confusion about what is covered by insurance policies is one of the reasons that policyholders fail to receive a payout. Wear and tear, as well as […]
NAICOM may reinstate 108 lapsed brokers’ licences
ZAKA KHALIQ (NEWSWATCH TIMES NEWSPAPER) The National Insurance Commission (NAICOM) may reinstate the lapsed licences of 108 insurance broking firms who were delisted in December 2015, Newswatch Times can reveal. Newswatch Times learnt that the regulator, after it listened to the plea of the broking fraternity, decided to temper justice […]
How tech is changing insurance in South Africa
The digital revolution promises to change the face of South Africa’s insurance market over the next few years, making the industry more convenient, and more personalised. Bryan McLachlan, CEO at Instant Life, said that as technologies such as the Internet of Things, wearable computing, big data, and cloud computing mature, […]
Global insurers plot cautious course to Iran
Global insurance firms are circling Iran for business opportunities following the lifting of sanctions – and the first test of their appetite could come in March when some Iranian companies seek new cover. Insurers, the reinsurers that share their risk and the brokers that forge deals are exploring ways to […]
NIA Chairman’s mother is dead
The Chairman Nigerian Insurers Association, Godwin U.S.Wiggle has lost his mother and matriarch of the Wiggle family, Mrs. Victoria Wiggle. She was aged 82. She was a devout christian, community leader and philanthropist. In a condolence message to its Chairman, the Director-General of the Association, Sunday Thomas expressed the deepest […]
Anti corruption war can foster attainment of N1trn premium income – NCRIB boss
Leave a comment Chuks Udo Okonta The President Nigerian Council of Registered Insurance Brokers (NCRIB) Kayode Okunoren, said the insurance industry can achieve the targeted N1 trillion premium income through sustenance of the anti corruption war which is a good tool to curb all mal-practices that have stemmed insurance growth. […]
Agents write minister, seek inclusion in insurance bill review committee
Mrs Adeosu Leave a comment Chuks Udo Okonta The Association of Registered Insurance Agents of Nigeria (ARIAN) has written a letter to the Minister of Finance Mrs. Kemi Adeosun and the National Insurance Commission (NAICOM) over the exclusion of agents in the proposed committee to review the insurance bill. Its […]
