The recent catastrophic flooding in Germany as a “consequence of climate change,” has been described by analysts at Moody’s as potentially challenging for the country’s risk underwriting firms and warned that German insurers could find it difficult to protect homeowners against climate risk in future without significant price increases. It would be recalled that the […]
The Federal Government has rejected the application of 10 companies seeking pioneer status under the Industrial Development Income Tax Act in Q1 2021. A report by the Nigeria Investment Promotion Commission (NIPC),which covered those entities that applied for the fiscal relief in the quarter under review, showed that applications of Flour Mills of Nigeria Plc, […]
The United States’ cumulative insured property losses last year have been estimated to be over $68 billion in 2020, as 19 catastrophe events with each leading to more than $1 billion in claims hit the country during the year. A news report by artemis.bm, a research firm specialising in catastrophe bonds, insurance linked securities, reinsurance […]
Researchers at Morgan Stanley have projected a slowdown in property and casualty (P&C) insurance rates as lines begin to approach pricing adequacy. Currently, overall rate increases continue to remain positive and above loss trend, as evidenced by improvement in Q1 commercial lines margins. However, analysts at Morgan Stanley, one of the global leaders in executing […]
The leadership of the Council of the Regulation of Engineering in Nigeria (COREN) at the weekend hinted of its plans to invoke the powers provided in its amended Act to investigate licensed engineers and non-engineers who engage in unprofessional practices leading to infrastructure collapses nationwide. The National President of the Council, Engr. Ali Rabiu, who […]
The leadership of the Organized Private Sector under the aegis of Organized Private Sector of Nigeria (OPSN) has sought the Presidency’ explanation on the need for electricity tariff increase, particularly now at a time when the nation’s economic performance is receding and millions of poor Nigerians are trapped in poverty cycle. The OPSN comprises the […]
FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”), has approved the quotation of the Mixta Real Estate PLC N2.39bn Series 28 Commercial Paper under its N20.00bn Commercial Paper Issuance Programme and the CardinalStone Partners Limited N5.00bn Series 1 Commercial Paper under its N10.00bn Commercial Paper Issuance Programme on its platform. The approval of the […]
The Central Bank of Nigeria (CBN) on Thursday issued a new for the regulatory and supervisory oversight of mortgage guarantee companies (MGCs). The apex bank stated in the guideline titled ‘Regulations For the Operations of Mortgage Guarantee Companies (MGCs in Nigeria’ that the guideline was issued pursuant to the provisions of the Central Bank of […]
The Nigeria Mortgage Refinance Company Plc (NMRC) has signed a N3 billion mortgage financing agreement with the Kaduna State Government and Federal Housing Authority (FHA) Mortgage Bank to provide affordable housing for people in the state. The initiative is described as first of its kind in mortgage financing in the country designed to provide mortgage […]
President of the Senate, Senator Ahmad Lawan has canvassed the need for improved local contents in all engineering projects undertaken in the country. The lawmaker, who made the remarks late Thursday spoke in Abuja at a book launch on ‘Engineering and Sustainable Rural Development In Nigeria’ authored by Engineer Ahmed Amshi, expressed his belief in the […]