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The management of Yudala, an online and offline retail chain in Africa has appointed Sovereign Trust Insurance Plc as the official insurer to the organisation in Nigeria. As the official insurer to Yudala in Nigeria for all online transactions and offline purchases in the different outlets spread across the...

The Director General of the National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu has identified inadequate knowledge and skills on the part of Pension Fund Administrators (PFAs) to conduct due diligence on developmental projects as part of the challenges facing the pension industry in Nigeria. Anohu-Amazu stated this during the High Level Side event at the 3rd...

By Sola Alabadan,  Lagos   More than three years after an aircraft belonging to Dana Airline crashed on June 3, 2012 in Iju-Ishaga, Lagos, killing more than 163 people, the National Insurance Commission (NAICOM) and the insurance operators in Nigeria are still not happy with the way the insurance of the ill-fated aircraft was managed by the industry. This development...

UnityKapital Assurance Plc has appointed Michael Danjuma  Dogo and Babatunde Oshadiya  as  Managing Director and  Executive Director  (Operations) respectively. The insurance company notified The Nigerian Stock Exchange that the National Insurance Commission (NAICOM) has approved the appointments of the duo. The appointments took effect from July 21, 2015. Dogo is...

In this interview with the Managing Director, NEM Insurance Plc, Tope Smart, he says even though many people now believe in the nation’s insurance industry unlike before, the government need to enforce compulsory insurances while the burden is on insurance operators to make people understand the benefits of insurance, among other issues: He spoke with SOLA ALABADAN....

The National Pension Commission (PenCom) has affirmed that the licensed Pension Fund Administrators (PFAs) lack adequate information on their customers and this has been hindering the PFAs from rendering excellent services to their clients. Head, PenCom’s Surveillance Department, Mohammad Datti said: “The Commission has observed the dearth of adequate information on...

By Sola Alabadan,  Lagos   More than four years after the Accident Offices Committee (AOC) of the Nigerian Insurers Association (NIA) started working on the insurance covers for the nation’s entertainment industry, the insurers are yet to design any product for the entertainers. Since 2011, the committee had been working on the project and they examined various...

Cornerstone Insurance Group grew its profit after tax by 11 percent from N860.36 million in 2013 to N946.48 million in 2014, while its profit before tax increased by 20 percent from N870.2 million in 2013 to N1.04 billion in 2014. Cornerstone Group Chairman, Adedotun Sulaiman, who disclosed this during the company’s 23rd Annual General Meeting in Lagos, said “The financial...

Niger Insurance Plc achieved a gross premium written of N11.06 billion in 2014 as against N10.44 billion recorded in 2013, representing a growth of 5.95 percent. The company’s Chairman, Bala Zakariyau, who disclosed this during the 45th annual general meeting of the organisation in Sokoto on Wednesday, said the group profit after tax rose to N690.96 million in 2014 from...

By Sola Alabadan,  Lagos   Nigerian insurance operators are yet to address the issue of incessant rate cutting by some recalcitrant operators and they are still looking for ways to make sure that all insurers charge adequate premium rates for the risks they are carrying.  For some time now, insurers have always been accused of indulging in the unethical practice...