CFI, Mohammed Kari Nigeria and its other African counterparts are facing challenges as they struggle to have a bigger share of the juicy reinsurance business in their countries, which is largely done by foreign companies, NIKE POPOOLA reports If indigenous insurance firms in Africa are not earning premiums from the […]
Spotlight
Insurance stakeholders expect new dawn in 2016
In spite of hard times that Nigerians are passing through, which is equally affecting insurance adoption and renewals, market players are optimistic 2016 will usher in a new dawn in insurance industry. ZAKA KHALIQ writes. Hope dashed, dreams in still-born, harsh business operating environment, the continuous killing of people by […]
Fraud: Insurers lease professional certificates for fee
Leave a comment Chuks Udo Okonta Whenever an insurer presents a professional certificate to you ensure you verify for it may be a lease document, as it has been alleged that the act has become money-spinner in the industry. The Managing Director Consolidated Hallmark Insurance Plc, Eddie Efekoha, at a […]
Why insurers have high management expenses – Shareholder
Shareholders at an annual general meeting Leave a comment Chuks Udo Okonta For companies to attract best hands and retain them, they should be ready to pay, this was the submission of the Coordinator Independent Shareholders Association of Nigeria (ISAN) Sir Sunny Nwosu, while responding to the agitation on huge […]
Insurance investors push for deduction of fine from management, board of errant firms
Shareholders at an event Leave a comment Chuks Udo Okonta Investors under the umbrella of Independent Shareholders Association of Nigeria (ISAN) are pushing for the payment of fine imposed on insurance companies by the managements and boards of errant firms. The Coordinator of ISAN, Sir Sunny Nwosu, who disclosed this […]
Insurers To Pay Out £520m After Storm Desmond
There have been 23,700 claims made for property damage – just over 4,000 relating to businesses, says Britain’s insurance body. British insurers say they are expecting to pay out more than £520m to help victims recover after Storm Desmond. Emergency payouts of £2.6m have already been made to people and […]
Goldlink Insurance unveils forensic audit report
Leave a comment Chuks Udo Okonta The Interim Management Board of Goldlink Insurance Plc, today unveiled the report of the forensic investigation instituted by the National Insurance Commission (NAICOM) when it took over the management of the underwriting firm. Its Chairman, James Ayo, unveiled the report at the firm’s […]
Shareholders rattle NAICOM, seek EFCC searchlights
Kari Leave a comment Chuks Udo Okonta A drama ensued today as a shareholder engaged one of the Directors of the National Insurance Commission in a war of words over the handling of insurance companies in the country. The feud was observed at the annual general meeting of an insurance […]
Shareholders give NAICOM 90 days to reconstitute board of Goldlink Insurance
Leave a comment Chuks Udo Okonta Shareholders of Goldlink Insurance Plc, today, gave the National Insurance Commission (NAICOM) 90 days to reconstitute the board of the company to reflect the investors. The directive was given at the company’s annual general meeting in Lagos. It was unanimously supported by the shareholders […]
Insurers should be Indian-owned, controlled by January 18: IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) on Wednesday said all insurance companies have to report compliance on Indian ownership and control criteria by January 18, next year. In a letter to chief executive officers of all insurance companies in the country on Wednesday, V.R. Iyer, member (finance […]
