Nigeria’s Minister of Finance, Dr Ngozi Okonjo-Iweala, has advocated improved education for insurance policy makers in order to achieve deeper insurance penetration in the country. Okonjo-Iweala, who gave the advice today at the sidelines of the 53rd Annual Meeting of the African Development Bank (AfDB), in Busan, South Korea, noted that the low level of […]
Law Union & Rock Insurance Plc, has reported a yearly growth of its assets by 16.9 per cent in 2017, representing an increase of value from from N8.58 billion posted in 2016 financial year to N10.031 billion last year. The company’s gross premium written during the year in review also rose to N4.252 billion, up […]
Determined to achieve improved enrolment of low income earners in the Contributory Pension Scheme (CPS), the National Pension Commission (PENCOM), has released a new draft guidelines for micro pension plan implementation in the country. Under the latest guidelines, contributors can decide to make contributions by cash, electronically or any payment platform approved by the Central […]
Goldlink Insurance Plc, one of Nigeria’s leading risk underwriting company, has unveiled plans to raise N10 billion through rights issue and ordinary as well as preference share. The company’s Acting Managing Director and Chief Executive Officer, Mrs. Funke Moore, who gave this hint during a pre-Annual General meeting (AGM) media chat, confirmed that the National […]
The Lagos State Government at the weekend disclosed that it had paid N9.3 billion to 2,466 pensioners in the state between May 2017 and March 2018, adding that issues affecting retirees in the state will continue to be prioritized. The Commissioner for Establishment, Training and Pensions, Dr Akintola Benson-Oke, who gave these figures at the […]
The National Insurance Commission (NAICOM) has advised insurance customers not to do risk underwriting business with unlicensed operators in the insurance industry as well as allot proportion of risk to local underwriters without taking due cognisance of the insurers’ capacity. The commissioner for Insurance, Mohammed Kari, who gave the advice during a chat with media […]
The National Insurance Commission (NAICOM) today confirmed that it had taken over the management of Unic Insurance Plc to reposition the company on the track of sustainable growth. The commission’s spokesman, Rasaaq Salami, confirmed this in Lagos, stating that the takeover was necessitated by the need to avoid the risk undertaking company from going into […]
The Federal Government has proposed N15 billion for the payment of insurance premium of employees in its Ministries, Departments and Agencies (MDAs) in the current fiscal year.
The National Insurance Commission, NAICOM, has disclosed that it plans to involve 15 more companies to enhance the implementation of the Index-Base Agriculture Insurance, IBAI.