Insurance and You

AXA Mansard records 19% growth in GPW

AXA Mansard records 19% growth in GPW

By Rosemary Iwunze AXA Mansard Insurance Plc, a member of the AXA Group, has recorded 19 per cent Year-on-Year, YoY, growth in Gross Written Premium for the third quarter ended September 30, 2022. Speaking on the result, the Chief Financial Officer of the company, Mrs. Ngozi Ola-Israel, said, “2022 has been a challenging and dynamic […]
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NAICOM, NIA disagree over recapitalisation of insurance firms

NAICOM, NIA disagree over recapitalisation of insurance firms

By Rosemary Onuoha The National Insurance Commission, NAICOM, and the Nigerian Insurance Association, NIA, have disagreed over the appropriate recapitalisation model for insurance firms. While NAICOM has stipulated the general capital requirements for the different categories of the insurance business and mandated that operators must meet the requirements by December 2021, the NIA is canvassing […]

Mutual Benefits gets shareholders’ nod to raise additional capital

Mutual Benefits gets shareholders’ nod to raise additional capital

By Rosemary Onuoha Mutual Benefits Assurance Plc has received shareholders’  approval to raise additional capital in order to meet the recapitalisation requirement of the National Insurance Commission, NAICOM. Accordingly, the underwriter is embarking on a private placement to raise additional N4.8 billion, from its existing investors who have shown interest to increase their stake to […]

Insurance operators bank on NAICOM portal to curb rate cutting, others

Insurance operators bank on NAICOM portal to curb rate cutting, others

By Rosemary Onuoha Insurance operators are banking on the introduction of the National Insurance Commission, NAICOM, portal next year to curtail the menace of rate cutting and other unprofessional practices impacting negatively on turnover of companies. Rate cutting is one of the desperate but unprofessional practices adopted by some insurance firms to get business at […]

Transfer Window: Over 2,100 change PFAs over poor services

Transfer Window: Over 2,100 change PFAs over poor services

Following the launch of the pension transfer window by the National Pension Commission (PenCom) recently, over 2, 100 Retirement Savings Account (RSA) holders have applied to move their pension accounts from their current Pension Fund Administrators (PFAs) to a new one.

African Alliance settles N1.3bn claims in two months

African Alliance settles N1.3bn claims in two months

African Alliance Insurance Plc said it has settled claims of N1.3 billion in two months from October till date. Managing Director/Chief Executive Officer of African Alliance, Mrs. Joyce Ojemudia, disclosed this during a press interaction at the company’s office in Lagos, adding  that the only way to make insurance products tangible is for underwriting firms to pay genuine claims promptly.

Anchor pays N957m claims in 10 months

Anchor pays N957m claims in 10 months

Anchor Insurance Company Limited has paid out N957 million as claims to deserving policyholders as at the end of October this year.

The company’s Managing Director, Mr. Ebose Augustine, disclosed this while speaking with journalists in Lagos recently.

Africa Re canvasses improved agricultural sector

Africa Re canvasses improved agricultural sector

African Reinsurance Corporation, Africa Re, has canvassed for an improved agricultural sector in the continent, stating that the performance of the sector can significantly influence economic development in most sub-Saharan Africa countries.

AXA Mansard reports 169% growth in profit after tax

AXA Mansard reports 169% growth in profit after tax

AXA Mansard Insurance Plc, a member of the AXA Group, has recorded 169 percent growth in profit after tax of N5.67 billion for the third quarter ended September 30, 2020, from N2.11 billion in September 2019.

Coronation Insurance grows GPW by 5% in Q3

Coronation Insurance grows GPW by 5% in Q3

By Rosemary Onuoha INSURANCE Coronation Insurance Plc said it grew its Gross Written Premium, GPW, by five percent to N13.26 billion for third quarter   ended 30th September, 2020 (Q3’20) as against N12.68 billion recorded in the corresponding period in 2019. The company said that it sustained the consistent growth in premium by the attainment of […]

Allianz Nigeria restates readiness to settle unrests’ claims

Allianz Nigeria restates readiness to settle unrests’ claims

Allianz Nigeria has confirmed her readiness to support customers and business owners whose property or businesses have suffered one form of loss or the other during the recent unrests experienced all over the country, by meeting her obligations and promptly paying claims for such damages/losses.