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Insurers urged to implement enterprise risk management

Insurers urged to implement enterprise risk management

African insurance companies have been charged to implement Enterprise Risk Management (ERM) so as to be able to identify, monitor, mitigate and control the risk inherent in their business and…

NAICOM urges IGI to sustain Olowude’s legacies

NAICOM urges IGI to sustain Olowude’s legacies

The National Insurance Commission (NAICOM) has called on the management and staff of Industrial and General Insurance Company (IGI) not to allow the death of the IGI’s founder, Remi Olowude,…

Guinea Insurance pays N324m claims

Guinea Insurance Plc paid claims amounting to N324 million in 2013 as against N281 million recorded in 2012, representing an increase of about 15 percent. The company’s Chairman, Sir Emeka…

NCRIB tackles NAICOM on de-registration of members

NCRIB tackles NAICOM on de-registration of members

Stories by Sola Alabadan Senior Correspondent   The President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Ayodapo Shoderu, has vowed that the council would not fold its arm…

FIIRO to create 250,000 jobs via techno-investment programme

Stories by Phillip Oladunjoye  /  Snr Correspondent Lagos   The Director-General of the Federal Institute of Industrial Research Oshodi (FIIRO), Mrs. Gloria Elemo, has said that the Institute has the…

Brokers warned over risk advisor role

Brokers warned over risk advisor role

By Sola Alabadan  / Senior Correspondent   In order to remain competitive, the insurance brokers will need to take on more of a risk advisor role in the market, a new…

Custodian bags CFI’s award

UK-based Capital Finance International (CFI) has given Custodian and Allied Insurance Limited an award as the “Most Innovative Insurance Company in Nigeria 2014”. CFI’s multinational panel of judges comprising renowned…

NHIS re-certifies GNI healthcare

Following the decision of the National Health Insurance Scheme (NHIS) to build a new responsive and responsible scheme, the services of PricewaterhouseCoopers was sought to reassess fairly and credibly, the…

12 insurers fail to submit 2013 financials

With about two months to the end of 2014, 12 out of the 59 insurance companies in Nigeria are yet to submit their 2013 International Financial Reporting Standards (IFRS) based…

NHIS re-accredits IHMS as HMO

NHIS re-accredits IHMS as HMO

The National Health Insurance Scheme (NHIS)has re-accredited International Health Management Services (IHMS) to continue operating as one of the Health Maintenance Organisations (HMOs) in Nigeria. This was sequel to the…

Insurers sidelined in disaster management – NCRIB

Insurers sidelined in disaster management – NCRIB

By Sola Alabadan  -  Senior Correspondent   The Nigerian Council of Registered Insurance Brokers (NCRIB) has lamented that the insurance industry, which had the professional obligations of risk mitigation, had…

NIA lists threats to insurance industry’s survival

The Nigerian Insurers Association (NIA) has identified the poor standard of living of Nigerians and their low disposable income as threats to survival of insurance industry in the country. Addressing…

Epa as ‘enslavement partnership agreement’

In a newspaper report titled “Nigeria rejects EPA over $1.3tn Revenue Loss” (Daily Independent of 15/8/2014, Pg. 30), the Director General of Manufacturers’ Association (MAN), Mr. Remi Ogunmefun commended the…

Experts proffer solution to dearth of actuaries

For a country like Nigeria to tackle the shortage of actuaries, the nation’s insurance industry has been advised to investigate how greater use could be made of volunteers from actuarially…

Insurers take war against Companies Income Tax to FG

Insurers take war against Companies Income Tax to FG

By Sola Alabadan Senior Correspondent   The Nigerian Insurers Association (NIA) has appealed to the Federal Government to suspend or waive some sections of the Companies Income Tax Act (CITA)…

NIA reviews activities at licensing offices

By Sola Alabadan Senior Correspondent Due to the devastating effects of the activities of fake insurance operators at vehicle licensing offices, the Nigerian Insurers Association (NIA) has been reviewing the…

Custodian unveils mobile insurance application

By Sola Alabadan Senior Correspondent Custodian and Allied Insurance Limited has unveiled a mobile insurance application that enables customers to take charge of their insurance transactions from start to finish…

Goldlink moves to avoid being delisted by NSE

By Sola Alabadan Senior Correspondent The management of Goldlink Insurance plc has assured that it was doing the needful to ensure that the company is not delisted by the Nigerian…

FRSC charges insurers on fake operators

FRSC charges insurers on fake operators

The Federal Road Safety Commission (FRSC) has urged the Nigerian Insurers Association (NIA) to step up efforts aimed at putting an end to the activities of fake insurers in the…

SA Life pays N2.78b claims

Standard Alliance Life Assurance Limited (SA Life) paid N2.78 billion claims to its policyholders in 2013 as against N2.65 billion paid in 2012, the company’s Chairman, O’tega Emerhor, said. Out…

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