By Rosemary Onuoha INSURANCE Following an Interim Injunction from the High Court to suspend the recapitalization of insurance companies, pending the determination of the suit challenging the process, the National Insurance Commission (NAICOM) said it has complied with the court order and will waive the initial mandate given to companies to meet up with half […]

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 […]

As businesses and individuals adopt cost reduction measures in response to rising inflation and the harsh business environment, the National Insurance Commission, NAICOM, has charged Nigerians to avoid the tendency to shun insurance of their assets.

AIICO Insurance plc on Wednesday said it had surpassed the December 2020 deadline expectations of the National Insurance Commission (NAICOM). Mr Babatunde Fajemirokun, its Managing Director /Chief Executive Officer (CEO) said this in a statement by the company in Lagos. He said that the company had made satisfactory progress in its recapitalisation journey. “There are […]

By Rosemary Onuoha The National Insurance Commission (NAICOM) said it is compiling the list of insurance companies for necessary regulatory sanctions over unsettled claims which industry experts have estimated to be over N40 billion. Commissioner for Insurance, Sunday Thomas, speaking at the 2020 insurance directors’ conference organised by NAICOM and the College of Insurance and […]