As 2024 fast approaches, analysts at investment bank, Morgan Stanley, currently don’t see any sign of headwinds to affect reinsurance pricing for the renewals and into the next year, with capital supply remaining balanced in the sector. A news report from Artemis.bm, an online medium, quotes the investment bank analysts as saying that results seen […]
The National Insurance Commission (NAICOM) has reminded the three tiers of government in Nigeria to factor into their yearly budgets funds that will provide insurance cover public buildings in line with the existing insurance law in the country.. The Commissioner for Insurance and Chief Executive Officer of the commission, Mr. Sunday Thomas, who gave the […]
…..Debunks Misleading Reports on Liquidated 20 Banks The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that it had made cumulative payments of liquidation dividend totalling N45.45 billion representing amounts exceeding the guaranteed sums to depositors of the 20 liquidated banks as of July 2023. The corporation made the clarification in a statement issued by […]
The Head of Property & Casualty Reinsurance SID at Swiss Re, Victor Kuk, has highlighted the escalating crisis of natural catastrophes in Asia, with over 30% of the global nat cat events in 2022 occurring in the continent, causing staggering economic losses. The industry expert was quoted by Reinsurance News during an interview as expressing […]
The Nigeria Deposit Insurance Corporation (NDIC) has commended the Judiciary on its better understanding of the deposit insurance practice in the current drive towards promoting stability in the nation’s financial system. The corporation’s Managing Director/Chief Executive, Mr. Bello Hassan, gave the commendation in his welcome address at the 2023 Sensitization Seminar, organized by the corporation […]
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas, has unveiled seven new strategic thrusts for implementation by the commission in its sustained efforts to transform the insurance industry and its contributions to the nation’s Gross Domestic Product (GDP) in the next decade. The industry expert, […]
As adoption of AI technology continues to dominate public discourses across the re/insurance industry, some of the major leading firms, including Swiss Re and Munich Re, say that the deployment of the technology within the sector remains within its early days and piloting stages. Speaking at Swiss Re’s Baden-Baden media conference, Chief Underwriting Officer, Global […]
The Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt. Musa Nuhu, has linked the underperformance and other operational challenges facing Nigerian airlines to high interest rates on credit and unbearable y insurance premiums for aircraft. Nuhu, was quoted by Nairametrics, an online medium, as saying during an interview that the impact of these high […]
The Nigeria Deposit Insurance Corporation (NDIC), has alerted depositors and ex-staff (deposits) of defunct Peak Merchant Bank of its preparations to pay their first liquidation dividend. A press statement signed by the corporation’s Director, Communication and Public Affairs, Bashir Nuhu, indicated all affected depositors of the bank and former employees with deposits in the bank […]
The Pension Transitional Arrangement Directorate (PTAD) at the weekend stated that it had paid N846,146,987.71 to 2,730 pensioners of the Civil Service Pension Department as accrued arrears and gratuity owed them over the past years. The agency made this disclosure in a statement signed by its Head, Corporate Communications Department, Mr. Olugbenga Ajayi, on Friday. […]