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NAICOM partners Fire Service to enforce compulsory building insurance

NAICOM partners Fire Service to enforce compulsory building insurance

By Sola Alabadan / News Editor, Sunday   In order to ensure compliance with the compulsory insurance of all public buildings provided for in section 65 of the Insurance Act 2003,…

Miss Okoro now new Insurance Queen

Miss Cynthia Okoro of Standard Alliance Insurance Plc recently emerged the new Miss Insurance at the 2015 Miss Insurance show held in Lagos. The yearly Miss Insurance Dance organised by…

Aon eases understanding of terrorism risk

Impact Forecasting, Aon Benfield’s catastrophe model development team, is applying a new blast engineering approach to provide a more realistic understanding of the potential range of losses from a terrorist…

NAIC moves to increase insured farmers to 5m

The Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the number of insured farmers from the current two million to as high as five million as…

Compulsory insurance compliance: NAICOM opts for awareness campaign

Compulsory insurance compliance: NAICOM opts for awareness campaign

By Sola Alabadan / News Editor, Sunday   Having realised that majority of the people were not aware of the existence of compulsory insurance covers, the National Insurance Commission (NAICOM) has…

Aon lists Nigeria as big geopolitical risks

Aon Risk Solutions, a unit of Aon plc, has issued its annual Political Risk Map, intended to provide the British insurer’s clients with answers to common questions about where it’s…

WAICA Re to expand across Africa, beyond

WAICA Reinsurance Corporation Plc (WAICA Re) intends to expand its operations across the entire African continent, Asia and the Middle East as soon as possible, in line with its determination…

TAF Consulting moves to develop actuaries for Nigeria

TAF Consulting moves to develop actuaries for Nigeria

By Sola Alabadan  - News Editor, Sunday   TAF Consulting (Nig.) Limited has established a Centre for Actuarial Training to develop professional actuaries for Nigeria as there are less than 10…

NAICOM to train brokers on IFRS again

NAICOM to train brokers on IFRS again

Having realised that the insurance brokers were still found wanting when the financial reports they submitted were reviewed in spite of the various efforts4 to ensure that the brokers comply…

Any unsettled claim, contact NAICOM

Insurance is a contract between an insurance company and its client in which the insurance company agrees that on the happening of certain events the insurance company will either make…

Liberty to conclude firm’s acquisition March

Liberty Holdings Limited, the South African insurer controlled by Standard Bank Group, plans to conclude the acquisition of an insurance company in Nigeria by the end of March, Thabo Dloti,…

NAICOM targets car dealers, fuel stations to sell insurance

NAICOM targets car dealers, fuel stations to sell insurance

By Sola Alabadan News Editor, Sunday   As part efforts to ensure that majority of Nigerians embrace insurance as a way of life, the National Insurance Commission (NAICOM) has resolved…

NAIC moves to increase market penetration, income

NAIC moves to increase market penetration, income

By Sola Alabadan News Editor, Sunday The board of Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the corporation’s market penetration and premium income, the company’s…

Brokers still engage in unethical practices, NCRIB affirms

Brokers still engage in unethical practices, NCRIB affirms

By Sola Alabadan / News Editor, Sunday   The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Ayodapo Shoderu, has confirmed that there are still some brokers who indulge…

IFRS: Brokers risk FRC sanction from March 3

The deadline given by the Financial Reporting Council (FRC) to all insurance brokers to submit their International Financial Reporting Standards (IFRS) based accounts expires on March 3. Although insurance brokers…

IGI pays N3.5b claims in 2014

Industrial and General Insurance Plc (IGI) paid a total of N3.5 billion as claims in 2014, IGI Group Managing Director, Rotimi Fashola, has said. Fashola informed insurance brokers in Lagos…

AXA to Acquire 7% of Africa Re

French insurer AXA has signed an agreement to acquire a 7.15 per cent interest in African Reinsurance Corporation (Africa Re), for around $61 million (€53 million). Established in 1976 by…

NAICOM restrategises for recalcitrant insurance operators

NAICOM restrategises for recalcitrant insurance operators

By Sola Alabadan - News Editor, Sunday   In realisation of the fact that some insurance operators will always want to violate the rules and regulations governing insurance practice, the National…

IGI appoints Fashola MD, Elusakin DMD

IGI appoints Fashola MD, Elusakin DMD

The Board of Industrial and General Insurance Plc (IGI) has appointed Rotimi Fashola as the substantive Group Managing Director. He succeeds Remi Olowude, the company’s Executive Vice Chairman/Founder, who passed on…

Proposed outbreak, epidemic insurance

Outbreak and epidemic insurance  The African Union’s African Risk Capacity (ARC), the continent’s sovereign disaster risk insurer, is developing cover for disease outbreaks and epidemics. In the aftermath of the…

NAICOM targets car dealers, fuel stations to sell insurance

NAICOM targets car dealers, fuel stations to sell insurance

  By Sola Alabadan News Editor, Sunday   As part efforts to ensure that majority of Nigerians embrace insurance as a way of life, the National Insurance Commission (NAICOM) has…

NAIC moves to increase market penetration, income

NAIC moves to increase market penetration, income

  By Sola Alabadan News Editor, Sunday The board of Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the corporation’s market penetration and premium income, the…

NIA seeks enforcement of compulsory insurances

By Sola Alabadan News Editor, Sunday The Chairman of Nigerian Insurers Association (NIA), Godwin Wiggle, has appealed to the National Insurance Commission (NAICOM) to sustain its efforts in the enforcement…

SA Insurance restructures

By Sola Alabadan News Editor, Sunday The board and management of Standard Alliance Insurance Plc have initiated a process of restructuring and rightsizing as part of its corporate strategy for…

Firms bidding for FG contracts to require compulsory insurance compliance

Firms bidding for FG contracts to require compulsory insurance compliance

  By Sola Alabadan News Editor, Sunday   All organisations wishing to bid for any contract with the Federal Government Ministries, Departments and Agencies (MDAs) may soon be required to…

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