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NAICOM laments inability to prosecute fraudulent operators

NAICOM laments inability to prosecute fraudulent operators

By Sola Alabadan Senior Correspondent   In spite of the fact that the National Insurance Commission (NAICOM) is saddled with the responsibility to regulate and supervise the insurance industry, the…

Goldlink wins four awards

By Sola Alabadan Senior Correspondent Goldlink Insurance Plc has so far won four awards during the current year 2014, the company’s Chief Executive Officer, Gbolahan Olutayo, said. According to him,…

NIA vows to enforce market discipline

By Sola Alabadan Senior Correspondent The Nigerian Insurers Association (NIA) has promised to “enforce market discipline by encouraging peer review among member companies with a view to aligning the market…

Niger promises retirees life time income

By Sola Alabadan Senior Correspondent The management of Niger Insurance plc have called on retiring employees to choose the annuity plan being offered by the insurance company, assuring them that…

Royal Exchange partners NGO on youth devt

Royal Exchange partners NGO on youth devt

Royal Exchange Plc has partnered a non-governmental organisation, Foundation for Youth Education, to organise the seventh edition of the leadership training conference for secondary school prefects in Lagos State. The…

NAICOM charged to curb charlatans in insurance industry

Stories by Sola Alabadan  / Senior Correspondent   The National Insurance Commission (NAICOM) has been charged to urgently curb the challenges posed of charlatans in the insurance industry and discourage companies…

AIICO records N2.7b profit

The profit before tax of AIICO Insurance Plc increased by 241 percent from N995 million during the first nine months of 2013 to N3.39 billion at the end of third…

CHI grosses N4b income

Consolidated Hallmark Insurance (CHI) grew its Gross Premium Income to N4.15 billion in 2013 from N3.83 billion achieved in 2012, representing an increase of 8 percent. The company, however, made…

WAICA Re wins CFI award

WAICA Reinsurance Corporation Plc (WAICA Re) has won Capital Finance International Company’s (CFI.co) award for insurance industry innovation in West Africa, the management of the organisation said. According to the…

Fashola tasks insurers on enlightenment campaign

Governor Babatunde Fashola of Lagos State has counseled the insurance operators in Nigeria to embark on aggressive public enlightenment campaign so that majority of the populace will appreciate the essence…

Sovereign Trust pays N1.7b claims

Sovereign Trust Insurance Plc paid claims amounting to N1.751 billion in 2013 in keeping faith with its promise to pay all genuine claims promptly. The company’s Chairman, Dr. Ephraim Faloughi,…

NAIC to offer weather index insurance

The management of Nigerian Agricultural Insurance Corporation (NAIC) has been empowered to develop new products such as weather index insurance, as well as embark on business re-engineering, upgrade its ICT…

NAICOM charged to curb charlatans in insurance industry

Stories by Sola Alabadan  / Senior Correspondent   The National Insurance Commission (NAICOM) has been charged to urgently curb the challenges posed by charlatans in the insurance industry and discourage the…

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…

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