The National Insurance Commission (NAICOM) says it will commence the ranking and rating of insurance companies in line with the number of claims received and settled on annual basis. The Commissioner for Insurance, Mr Sunday Thomas, said this at the 2022 retreat for financial correspondents in Uyo on Saturday. Thomas said the Commission would also […]

The 2021 Gross Premium Income (GPI) for the insurance industry has hit N630,362.35 billion, according to the National Insurance Commission (NAICOM). Mr Rasaaq Salami, the Head, Corporate Communications and Market Development of NAICOM, stated this in Abuja, on Monday. Salami said that the 2020 GPI was N514 billion, noting that the total assets of the […]

Insurance industry leaders in Africa have picked holes in the regulatory capacity to deal with the declining insurance penetration in the continent.

By Babajide Komolafe Nigeria’s diaspora remittances inflow  is set to beat the World Bank’s  projection for 2021, as it rose to $14.2 billion in the nine months ending September 2021, up 10 per cent Year-on-Year, YoY, from $12.9 billion in the corresponding period of 2020, reflecting the impact of post-COVID economic recovery measures. This is […]

Sigma Pensions Limited has projected that Nigeria’s external sector balance and the oil sector would rebound in 2022.

Pension Fund Administrators, PFAs, are expected to submit their 2022 marketing campaign plan on micro pension to the National Pension Commission, PenCom, by end of January 2022.

President of the African Insurers Organisation, AIO, Mr. Tope Smart, has called on African insurance industry stakeholders to unite and address the challenges bedeviling insurance growth in the continent.

By Rosemary Iwunze Africa Insurance Organization, AIO, has called for a structured insurance market across the continent. AIO President, Mr. Tope Smart made this call when the Executive Committee of the AIO met with the executive members of the Nigerian Insurers Association, NIA, on behalf of the Nigerian insurance market. Speaking at the meeting, Smart […]

By Rosemary Iwunze Linkage Assurance Plc has paid out N2.45 billion claims in the last eight months of 2021 to its numerous customers that suffered losses during the period under review. According to the figures made available by the Company, between January 2021 to August 2021, fire claims accounted for N869 million of the total […]

By Rosemary Iwunze Linkage Assurance Plc has paid out N2.45 billion claims in the last eight months of 2021 to its numerous customers that suffered losses during the period under review. According to the figures made available by the company, between January 2021 and August 2021, fire claims accounted for N869 million of the total […]

By Rosemary Iwunze The National Insurance Commission, NAICOM, has called on African governments to support the insurance sector. Commissioner for Insurance, Mr Sunday Thomas who made the call at the just-concluded conference of the African Insurers Association, AIO, urged governments to lift border barriers that make movement of resources almost impossible. Thomas also urged them to […]

Chairman of Prestige Insurance Brokers Ltd, Mr. Feyisayo Soyewo has said that the COVID-19 pandemic has helped corporate institutions to retool their operational strategies, leading to higher profitability and easier ways of doing things virtually and getting results.

The Dive In festival, a global movement in the insurance sector initiated to engender inclusive workplace cultures is back for the third time in Nigeria, joining over 30 countries taking part across the world.

By Rosemary Iwunze The African insurance market is set to brainstorm on ways the sector can contribute to ongoing efforts at rebuilding economies seriously impacted by the pandemic. Accordingly, insurance operators across Africa and the world will converge in Nigeria from September 4-8, 2021 as the country hosts the 47th Conference and Annual General Assembly […]

By Rosemary Iwunze Chief Executive Officers of Insurance companies have called for measures to address the challenges of implementing Risk-Based Supervision (RBS) in the industry. Speaking on the heels of the commencement of Risk-Based Supervision in the insurance industry this week by the National Insurance Commission (NAICOM), the CEOs highlighted the knowledge gap among non-executive […]