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A&G, Springlife fail to render 2012, 2013 accounts to NAICOM

A&G, Springlife fail to render 2012, 2013 accounts to NAICOM

The National Insurance Commission (NAICOM) has disclosed that the trio of Alliance & General Insurance Company (A&G), Alliance & General Life Assurance Plc and Springlife Assurance Company are yet to…

SA Insurance to merge with SA Life

SA Insurance to merge with SA Life

The boards of both SA Insurance Plc and SA Life Assurance Limited have approved the merger of both companies to become a single insurance company offering all classes of insurance…

Premium Pension unveils mobile application

Premium Pension unveils mobile application

Determined to facilitate its operations and enhance customer service, Premium Pension Limited has introduced a mobile application known as “The Premium Pension Mobile”. This is aimed at closing the gap…

A.M. Best unveils Nigerian insurers’ ratings

A.M. Best unveils Nigerian insurers’ ratings

By Sola Alabadan - News Editor, Sunday   A.M. Best Company, the world’s oldest and most authoritative insurance rating agency, has unveiled the latest Financial Strength Rating (FSR) and Issuer Credit…

Insurers seek to address industry’s challenges

Insurers seek to address industry’s challenges

African insurance operators are seeking to address the most urgent and complex challenges impacting the insurance industry in the continent. To this end, “The Future of General Insurance in Africa…

IGI split NIC into three firms

IGI split NIC into three firms

Industrial and General Insurance Plc (IGI) has split its Ugandan subsidiary, the National Insurance Corporation (NIC), into three firms as directed by the Insurance Regulatory Authority in the country. The…

NAICOM to sanction insurers on rendition of returns

NAICOM to sanction insurers on rendition of returns

By Sola Alabadan  –News Editor, Sunday   The National Insurance Commission (NAICOM) has mandated insurance institutions to start harmonising the returns being rendered to the commission or face stiff sanctions. The…

2014 accounts: Eight insurers get approval

2014 accounts: Eight insurers get approval

The National Insurance Commission (NAICOM) has so far approved the 2014 financial accounts of eight insurance firms out of the 19 companies that have submitted their accounts to the regulatory…

CRe launches Insurance Journalism Awards

CRe launches Insurance Journalism Awards

Continental Reinsurance Plc (CRe) has instituted pan-African insurance and reinsurance journalism awards in order to improve and develop insurance and reinsurance reporting in the continent. The award is also aimed…

Pension: 1077 firms cleared for FG contracts

Pension: 1077 firms cleared for FG contracts

A total of 1077 companies have been certified by the National Pension Commission (PenCom) to bid for Federal Government contracts as at April 9, after they provided evidence of compliance…

NCRIB charges Buhari to embrace insurance

NCRIB charges Buhari to embrace insurance

Stories by Sola Alabadan / News Editor, Sunday   In view of the fact that no economy could develop without taken into cognizance the place of insurance and risk management, the…

Air crash puts pressure on aviation insurance

Air crash puts pressure on aviation insurance

A.M. Best Company has alarmed that the recent Germanwings loss may put further pressure on the beleaguered aviation war sector especially as premium rates for this business rose in 2014…

Nigeria election excites Axa

Nigeria election excites Axa

Paris-based Axa is excited that the March 28 elections were peacefully conducted in Nigeria, saying such a peaceful transition in political power would not only have positive impact on the…

400 operators for Islamic Insurance Conference

400 operators for Islamic Insurance Conference

Nigerian insurance practitioners are among more than 400 industry leaders who have registered to be a part of the 10th Anniversary of the World Takaful Conference (WTC 2015), holding on…

Insurers urged to put regulators on their toes

Insurers urged to put regulators on their toes

The insurance operators have been charged to constantly challenge their regulatory institutions to come up with regulations and laws that are in line with the changing global environment. The President…

A.M. Best charges Nigerian insurers on size matters

A.M. Best charges Nigerian insurers on size matters

By Sola Alabadan  / News Editor, Sunday   A.M. Best Company has charged Nigerian insurers that size matters, saying even though the smaller insurers show faster growth of premium, their gross…

Global reinsurer capital hits $575b – Aon

Global reinsurer capital hits $575b – Aon

Aon Benfield estimates that global reinsurer capital rose by 6 percent to $575 billion in 2014, including a 28 percent increase in alternative capital to $64 billion. Aon Benfield, the…

960 firms cleared for FG contracts

960 firms cleared for FG contracts

A total of 960 companies were certified by the National Pension Commission (PenCom) to bid for Federal Government contracts between January and March, after they provided evidence of compliance with…

Insurance stocks: 25 of 27 record losses

Insurance stocks: 25 of 27 record losses

In spite of the fact that the insurance sub-sector represents one of the big players in the Nigerian economy as well as the financial services sector, insurance stocks have continued…

PFAs warned on investment in bonds

PFAs warned on investment in bonds

The National Pension Commission (PenCom) has reminded Pension Fund Administrators (PFAs) of its existing policy on the investment of pension funds in state bonds, warning that PFAs may only invest…

PenCom to upgrade ICT infrastructure

PenCom to upgrade ICT infrastructure

In a bid to render more efficient services to the stakeholders, the National Pension Commission (PenCom) has commenced moves to upgrade its Information and Communication Technology (ICT) infrastructure. To this…

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 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

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

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…

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