By IKEOYE OYETORO
Insurance operators have been urged to examine their positions on issuance of bonuses to forestall having excess stocks.

A shareholder activist, Mr Nona Awo noted that if adequate measures are not taken, insurers will soon get to a level were they will have shares beyond what they anticipated.

He enjoined operators to be proactive to provide dividends for shareholders, adding that continuous issuance of bonuses will lead to share reconstruction if not checked.

Also, the President, Nigerian Shareholders’ Renaissance Association, (NSRA), Mr Olufemi Timothy, urged operators to tread with caution on bonuses.

He expressed misgivings on the price of the industry’s stock at the Nigerian Stock Exchange saying operators should improve their operations through product research and engagement of aggressive marketing.

In the same vein, the President, Independent Shareholders Association of Nigeria (ISAN) Mr Sunny Nwosu, said that investors are worried over the price of insurance stock and urgent steps should be taken by the government, regulators and operators to reverse the trend.

He called on operators to liaise with regulators to find lasting solutions to the problem that has befallen the capital market.
Nwosu urged insurers to redouble their efforts in products and service delivery saying that the various initiatives introduced by the National Insurance Commission (NAICOM) should be leverage on to improve the industry.

“To grow the industry, all new initiatives by NAICOM such as compulsory insurance for building and buildings under construction should be looked into effectively, operators must begin to seek ways to improve their services and also consider areas that have not been tapped”,he said.

He however called on regulators, especially the Securities and Exchange Commission (SEC) to retrace its steps to stop further damage on the capital market.