By ROSEMARY ONUOHA

Three months to the end of the year 38 insurance companies are yet to get approval for their financial accounts from the National Insurance Commission, NAICOM.

According to NAICOM, as at this week it has approved the accounts of 16 underwriters out of the 37 firms that have submitted their financial reports, while 17 underrating firms are yet to submit their accounts.

NAICOM disclosed  that  it has approved the accounts of Mansard Insurance Plc; ADIC Insurance Limited; WAPIC Insurance Plc; Consolidated Hallmark Insurance; Oasis Insurance Plc, FBN Life Assurance Limited and Continental Reinsurance Company Plc.

Others are AIICO Insurance Plc, Leadway Assurance Company Limited, Crusader General Insurance Limited, Crusader Life Insurance Limited, UBA Metropolitan Life Insurance Company, Zenith Insurance Company Limited, Standard Alliance Insurance Life, UnityKapital, Unitrust Insurance Company Limited. NAICOM said that responses from the query by Custodian & Allied Insurance Plc; Law Union & Rock Insurance Company Plc; Regency Alliance Insurance Plc and Prestige Assurance Plc made on their accounts are under review.

The accounts of Crystal Life Insurance; Sterling Assurance Nigeria Limited; Sovereign Trust Insurance Plc; FIN Insurance Limited; Law Union & Rock; Wapic Life Assurance Limited; Nem Insurance Plc; Zenith Life Insurance; Oceanic (old Mutual);PHB Insurance Plc; Royal Exchange Assurance Plc and Equity Assurance Plc  and Lasaco Assurance plc were queried and the NAICOM is still awaiting their responses

Accounts under review are those of Royal Prudential Life Assurance Plc; Lasaco Life Assurance; Cornerstone Insurance Plc; Niger Insurance and Great Nigeria Insurance.