The insurance sector witnessed some positive developments in 2013. However, inadequate infrastructure continued to plague insurers all through the year which resulted in the late and zero submission of financial results by some companies to the National Insurance Commission and other regulatory bodies.Read More
The Director General of the Nigerian Insurers Association, NIA, Mr. Sunday Thomas, has said that the best way for life insurance companies to thrive is to operate on a stand-alone basis rather than being in a composite setup.
According to Thomas, life insurance businesses rarely thrive in a composite company.
The Nigerian Insurers Association, NIA, said that the insurance sector may witness reduced profitability in the next financial year due to the implementation of the ‘no premium, no cover’ policy of the National Insurance Commission, NAICOM.Read More
Law Union & Rock Insurance Plc, recorded N4.16bn gross premium in 2012 financial period.Read More
With only seven days to the end of the year, some insurance companies are still foot dragging in submitting their 2012 financial results to the National Insurance Commission, NAICOM, because the penalty for late submission of results is mild, experts have said. Accordingly, there should be stiffer sanctions meted out to companies for submitting their financial results late, according to experts.Read More
Malicious allegation of sexual intimidation of teachers, students, financial impropriety leveled against the out going Director General, of West African Insurance Institute (WAII) based in Banjul, The Gambia, Professor Mike Ikupolati is said to have been orchestrated by some elements in the Banjul based regional institute who want him out by all means. According to
It has always been stressed that insurance penetration in Nigeria is very low because insurers have refused to create products that suit the peculiarities of Nigerians. Although, the country boasts of a huge population of over 150 million, insurance penetration is just over one per cent, and this, according to experts, is not ideal. It
By Rosemary Onuoha Mrs. Adesimbo Ukiri, Managing Director/CEO of Avon Healthcare Limited, one of Nigeria’s Health Management Organisations (HMOs), has identified innovation as a key factor that will aid the deepening of health insurance penetration in Nigeria. Speaking at a forum in Lagos, Ukiri said that if HMOs could focus on innovation, particularly in the
The Alternative Investment arm of Old Mutual Investment Group, said it will stake $50million under the Nigeria Infrastructural Development Fund effect from next year.Read More
The Gbong Gwom of Jos, Da Jacob Gyang Buba, has said that much of the public misgivings about the insurance industry in Nigeria are due to ignorance and lack of proper understanding of insurance mechanism as a tool of risk management by the people.Read More