The Managing Director/Chief Executive Officer of FBN Insurance Limited, Mr. Val Ojumah has emerged the CEO of the Year in the Africa Insurance Awards 2020 edition held virtually by African Reinsurance Corporation.

By Cynthia Alo Insurers have warned against the devastating impact of another lockdown on the insurance industry. The warning is coming on the heels of a similar position by the Central Bank of Nigeria, CBN, which warned that imposing another lockdown will be catastrophic to the economy. While noting the necessity of the decision of […]

By Rosemary Iwunze The expected increase in the sale of third party motor insurance through the Unstructured Supplementary Service Data, USSD, channel, otherwise known as mobile insurance, is being undermined by the reoccurring menace of rate cutting. This, according to insurance practitioners, is due to the fact that some insurance companies still sell third party […]

By Rosemary Iwunze Niger Insurance Plc said it paid N1.7 billion as claims in 2019. Chairman of the company, Dr Stephene Dike disclosed this at the 50th Annual General Meeting of the company in Lagos, stressing that the company’s financial performance was however affected by the harsh operating environment. Dike said: “Acknowledging the dense competitive […]

By Rosemary Iwunze The Nigerian insurance industry will likely face increased risks associated with the COVID-19 pandemic and cyber threats in 2021. This is one of the highlights of the annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS) tagged, “Allianz Risk Barometer 2021”. Among other things the survey cited pandemic […]