Union Bank Group has declared a profit before tax of N12.1bn for the half year ended June 30, 2010. This tripled the growth on its profit when compared to N3.56bn performance in the first quarter of this year.

The National Association of Microfinance Banks (NAMB) has asked the Central Bank of Nigeria (CBN) to include its members in the operation of the newly introduced Assets Management Corporation of Nigeria (AMCON).

Shareholders of Continental Reinsurance Plc have strongly reacted to the Employee Compensation Bill (ECB) being sponsored by the Nigerian Social Insurance Trust Fund (NSITF) to take Workmen’s Compensation from the purview of insurance industry.

Africa Reinsurance Corporation has announced a net profit of $44.30million against $20.41 million posted in the year before. Underwriting profit of the corporation increase to $15.7million from $1.67 posted in 2008 thus demonstrating the reinsurer’s prudent management and its sound financial fundamentals.

as Nigerian insurance operators look forward to benefit from the exchange programme, Indian insurance industry is soaring in ranking. Indian life insurance industry has increased in world markets. India’s ranking among life insurance markets has risen from number 10 last year to the number 9 position, displacing Taiwan.

Preparations are in top gear for insurance professionals to storm India to attend the Chief Executives exchange programme for the year 2010, to allign with global trends in the business and practice of insurance.

International Finance Corporation (IFC) and the World Bank released a draft framework for engagement in the palm oil sector, detailing an approach that aligns with the World Bank Group mission to fight poverty without compromising economic, environmental or social sustainability, and inviting further public comment.

THE Federal government warned yesterday that if all outstanding issues relating to agriculture with regard to the Doha Development Round agenda must be completed before the end of 2010, developed trading partners must be prepared to shift grounds.

FCMB has had not only its B+/B long term and and short term global scale counterparty credit rating reassigned and reaffirmed, also it’s Nigeria national scale rating of ngA_ by Standard & Poor’s (S&P), the foremost international credit rating agency.

ORGANISED Labour in the nation’s electricity industry has called on the government to address the issue of over ten thousand (10,000) casual/contract workers in the Power Holding Company of Nigeria, PHCN, among others, in the interest of industrial peace.