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Huge population a big opportunity for insurers — Hassan-Odukale

Insurance is a business that is done with a large number of people. One of the things we have been accused of in Nigeria is not reaching large number of Nigerians. You grow penetration by selling insurance products to a larger number of people. Nigeria has a population of over 175 million people and where local insurers look at it that the Nigerian market is tough, foreign investors see opportunity in Nigeria because they look at the large population.

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IEI poised for repositioning

International Energy Insurance (IEI) plc says it is poised for repositioning to enable the company play leading role in the insurance industry, having all the potentials to do so. IEI, the Company says has some of the most competent hands in energy and general business underwriting, and an innovative business drive, which it believes are core competences it requires to deliver value to policy holders and other stakeholders.

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Leadway Assurance Limited, others win CAC corporate awards

Leadway Assurance Limited has received the “Above Basic Compliance” for its corporate leadership, sustainability programmes and corporate social responsibility, CSR efforts at the maiden Corporate Affairs Commission, CAC Corporate Citizens Awards in Abuja. The “Above Basic Compliance” category winners are the Leadway Assurance Limited and Nigerian Breweries Plc while the “Basic Compliance” award was won by the Yobe Investment & Securities Limited.

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Enforcement of group life will improve insurance penetration

“Though belated, insurance companies now have paid-up capital in excess of N5 billion, turn over in excess of N25 billion and asset base of over N50 billion. By continuous constructive engagements, insurer inescapable position shall be surely appreciated,” he said. Ogunbiyi added that insurers’ advertisement through bill boards, radio jingles and television programmes will accelerate insurance acceptance, deepen pension practice and the spread of insurance benefits to all.

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NCRIB board member emerges LLTC President

The Lagos Lawn Tennis Club has elected a new President. He is Barrister Rotimi Edu, a Registered Insurance Broker and Chairman of the West African Insurance Brokers Association (WAIBA). Edu, a product of the Lagos State Polytechnic and the University of Lagos where he studied Insurance and Law respectively, has promised to bring to bear his repertoire of knowledge in taking the club to higher heights.

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Leadway Assurance launches funeral cover plan

Leadway Assurance Company Limited has launched a new life product named the Leadway Family Benefit Plan Plus (LFBPP). The product is a multi-life policy designed to cover funeral expenses for the assured lives (spouse, parents and/or parents-in-law that are named in the policy) and the policy holder (person who purchased the policy). The policy helps to alleviate and bury the worries associated with the funerals for elderly loved ones.

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CPS: Most successful govt initiative —Dikko

The Contributory Pension Scheme, CPS, is arguably the most successful government initiative in recent times and a clear testimony to the effectiveness of private-sector-driven rendition of service in critical sectors. Chairman of Premium Pension Limited, Mr. Aliyu Dikko, who made this assertion, noted that year 2014 marked 10 years of the introduction of the CPS in the country and it was a general consensus that the industry has recorded tremendous successes.

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