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. […]
Insurance & Pension
Reps Summon 54 Insurance Firms’ CEOs Over Unremitted N267Bn
The House of Representatives Ad-hoc committee investigating non-remittance to the National Housing Fund (NHF) and utilization of the funds from 2011 has summoned the Chief Executive Officers (CEOs) of the affected 54 insurance companies to make clarification over the alleged non-remittance of N267 billion into the funds, particularly for fiscal 2019 year, The Chairman of […]
NDIC Begins Disposal Of Liquidated MFBs, DMBs’ Assets
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the sale of assets belonging to 183 liquidated financial institutions to pay depositors following the revocation of their licences by the Central Bank of Nigeria (CBN). The Corporation stated that the assets of the assets on the 179 Microfinance Banks (MfBs) and the four Primary Mortgage Banks […]
Catastrophe Bond Market Surges To New Heights In Q2 2023
A new quarterly report from Artemis, an ILS-focused publication, has indicated a huge $7.1 billion of catastrophe bond and related insurance-linked securities (ILS) issuance in the second-quarter of 2023, raising the H1 2023 issuance to a record of more than $10.3 billion. According to the latest data from the just published Artemis Deal Directory, the Q2 […]
Coronation Insurance Notifies NGX On De-listment Plans
Coronation Insurance Plc has announced plans to delist from NGX following an offer from Coronation Capital (Mauritius) Limited to acquire shares of the company at 65 kobo per share. In a Proposed Share Acquisition notice to the Nigerian Exchange Limited (NGX) and the investment community signed by Mary Agha, the Company Secretary, the offer price has […]
Nigerian Insurers’ Premium Growth Hits N726.2Bn In 2022
The Nigerian Insurers Association (NIA) reported on Tuesday that the nation’s insurance sector recorded 33.9% surge in premium volume in financial year 2022, posting N726.2 billion growth compared to the N569.1 billion premium income recorded in 2021 The NIA Chairman, Mr. Olusegun Omosehin, made this disclosure during the association’s 52nd Annual General Meeting (AGM) held […]
World MSME Day – SMEDAN, Casava Insurance Launch ‘Business Gro’ For MSMEs
As part of its programmes for the World MSMEs Day 2023, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has partnered Casava Insurance, a risk underwriting company with special focus on agribusiness, to facilitate voluntary registration and certification of MSMEs under SMEDAN and provide valuable support services for registered MSMEs in the country. […]
BPE Announces New Dates For Ex-PHCN Employees’ Verification
The Bureau of Public Enterprises (BPE) on Tuesday announced a change in dates for the verification of ex-staff of the Power Holding Company of Nigeria (PHCN) and the certified Next-of-Kin (NOK) of the deceased ex-staff who were in service between July 1, 2012 and October 31, 2013, scheduled for Monday, May 15, 2023, to Saturday, September […]
UNEP Canvasses Partnership With Re-Insurers On Climate Change
The United Nations Environment Programme (UNEP) has harped on a “fundamental and urgent” need for collaboration with the global insurance industry to successfully tackle the climate emergency. The agency’s call came amid concerns about major re-insurers withdrawal from the global Net-Zero Insurance Alliance (NZIA). Earlier this week, another leading re-insurance the Swiss Re, announced its […]
PenCom Recovers N24.53Bn From Non-Compliant Employers In 12 Yrs
The National Pension Commission (PenCom), has recovered about N24.53 billion as pension contributions owed workers by defaulting employers across the country. The Director-General of PenCom, Mrs Aisha Dahir-Umar, made this disclosure on Thursday in Lagos at the 2023 Labour Writers Association of Nigeria (LAWAN) Workshop with the theme ‘Securing the Future: The Benefits of the […]