Lasaco Assurance Plc recorded an underwriting profit of N139 billion in 2008 as against N835 million achieved in 2007. This represents a growth of about 67 per cent from the company’s core insurance business.

Even with the expected peace in the Niger-Delta resulting from Federal Government’s amnesty, insurers are still wary of the region. FBN Insurance Brokers CEO, Val Ojumah, an acclaimed international broker, advises local insurers should still stay away from the business in that region. Ostensibly for reasons of the special skills needed for the peculiar risks.

NEM Insurance Ghana Limited on Friday last week commissioned its Ghana office with a promise to provide quality and speedy services to the public and as well become the insurer of choice for most Ghanaians.

The National Insurance Commission (NAICOM) and the Pension Commission (PENCOM) have collaborated to deepen insurance penetration in the country.

An early shot at the capital market just before the burst has shot SA Insurance to the list of most capitalised underwriters in the country. Current results released to shareholders last week shows a 264% growth in shareholders’ funds at N24billion from N6.3billion position in 2007.

Royal Exchange Plc group announced a gross premium income of N3.3 billion in 2008 financial year.
The N3.3billion posted as at December 2008 was a significant increase from N2.7 billion the company generated in 2007. Expenses for the period leaped to N1.492 billion from N740.65 million the previous year, as a result of N1.16 billion management expenses which shareholders condemned in totality.

The federal government is making arrangement to settle the debts it owed local contractors in a bid to assist the ongoing reforms in the banking sector. The Minister of Finance Dr. Mansur Murhtar disclosed this at a press briefing organised by the Nigeria delegation to this year’s IMF/World Bank meeting in Istanbul Turkey.

By Omoh Gabriel, Business Editor The 2009 IMF/World A nnual meetings came to a grand end Thursday  in Istanbul Turkey with the election of Nigeria’s Minister of Finance, Dr Mansur Muhtar as the Chairman of the Bretton Wood Institution Board of Governors. Nigeria thus will over see the arrangement for the organisation of the 2010 […]

Access Bank Plc, Africa’s financial services brand of global reckoning, has undertaken the sponsorship of the broadcast of UEFA competitions to the Nigerian public for the current UEFA season.

Managing Director/Chief Executive, Equitorial Trust Bank, Gbolahan Olukayode Folayan Bank has said investing in the of training of staff for optimal productivity is the priority in the bank.

IIntercontinental Bank and Skye Bank won two awards each to dominate the maiden edition of Interswitch Nigerian e-Payment Awards. The awards presentation took place in Calabar, South-South, Nigeria, during the second annual Techno-Interactive Conference organized bythe company.

Management of Afribank Nigeria Plc has said that it is committed to recovering all non-performing loans in the books of the Bank stressing that this is central to its ongoing strategic turnaround plan that will see it achieve competitiveness in a short time.

Nigeria will soon join the economies of the world that have used their foreign reserve to set up sovereign wealth funds to create more assets for the country with foreign reserves.

THE Nigeria National Petroleum Corporation (NNPC)/ Eni, ConocoPhillips Joint Venture operated by Agip are fine-tuning arrangements to embark on the second phase of the Okpai Independent Power Plant which will increase installed capacity by one gigawatts.

Nigerian cocoa producers are urging the government to reinstate a waiver on jute bag import duties or else risk beans from the world’s number four grower being rejected on international markets.