The Federal Government should not experiment with the appointment of a new Director-General of the Securities and Exchange Commission (SEC) by appointing a learner, says a senior capital market operator.
This was disclosed by the Managing Director/Chief Executive, Partnership Investment Company, Mr Victor Ogiemwonyin, in an article titled, The capital market and the new leadership the market demands.

The Nigerian Aviation Handling Company Plc (NAHCo) has attributed the smooth take off of Delta Airlines’ inaugural flight from Abuja to New York, via Senegal, to the seamless ground handling services it rendered the airline.
According to the company, handling activities on the flight executed with a Boeing 757 aircraft were supervised by Hebert Odika, Lagos Zonal and Commercial Manager and Hassan Yahaya, NAHCo Station Manager, Abuja.

IT is irrational for the poor to save for retirement”. Rob Rusconi, an internationally acclaimed expert in pension provision must have jolted many Nigerians, particularly, government, when he delivered his paper and made the above quoted declaration at the National Conference on the review of the Implementation of the Pension Reform. His paper, “Securing Informal Sector Participation” was perhaps the most awaited of the seven papers delivered at the 2-day conference.

Lagos-based intergovernmental reinsurer Africa Re has been upgraded to single A minus from treble B plus by Standard & Poor’s. The reinsurer said that the improved rating would help the company in its quest for expansion.

Six Chief executive officers of member-companies of Ni gerian Insurers Association has been elected into the highest decision making organ of the trade group. The six CEOs representing six insurance companies were elected last week in Lagos at the annual general meeting of the association.

… fingers Nigeria, others in piracy rise

Allianz Global Corporate & Specialty    (AGCS) has suggested that special war insurance policies be introduced to serve the needs of vessels that travel through areas at high risk of piracy. The report, “Piracy: An Ancient Risk With Modern Faces”, notes that “currently, many vessels are insured for piracy [...]

Oceanic Insurance Group has in con junction with Aero Airline introduced an online travel insurance scheme to address air travel challenges for its customers in Nigeria and Ghana.

By Patience Saghana

Chairman of the Nigerian Insurers Association, Mr Wole Oshin says the industry goals he set for himself on assumption of office is being achieved.  He was reviewing his one year scorecard at the association’s annual general meeting in Lagos.

German reinsurer, Hannover Re, which is 50.1%-owned by Talanx, said Friday that it still expects €5 ($7) earnings per share this year, a 20% rise in gross premium income and an after-tax return on equity of at least 18%.

Strong indications emerged that the federal government will further reduce the present number of insurance companies operating in the country from 49 to 15. The reduction in the number of insurers in the country, according to industry analysts would increase the capacity of the industry and also reduce the incidences of unethical business practice as a result of unhealthy competition among insurers.

Crusader (Nigerian) Plc has won another Award adding to several awards already won this year by the company. This time it clinched Best Sector Leaders Award in the other Financial Institutions sector for 2008.