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The National Insurance Commission (NAICOM) says it proposed 10 year tenure for chief executive officers of insurance firms to ensure continuity and development of manpower in the industry. Commissioner for Insurance, Fola Daniel, disclosed this while responding to questions from correspondents in Ilorin,...

AIICO Insurance Plc increased its profit before tax by 156 percent from N1.2 billion loss in 2013 to N3.2 billion in 2014, while its profit after tax grew...

Stories by Sola Alabadan Lagos Worried by the contribution of the insurance industry to the nation’s Gross Domestic Product (GDP), the Nigerian insurance operators are striving to upscale the capacity of the industry for effective performance and improved contribution to the economy. To this end, the maiden edition of the annual mega conference of the industry is to...

Standard Alliance Insurance Plc paid out claims totaling N566.65 million to its affected policyholders during the first quarter of the year, the Group...

By Sola Alabadan   -Lagos   The insurance regulators in five English speaking West African countries of Nigeria, Ghana, Sierra-Leone, Liberia and The Gambia, are planning to establish a College of Insurance Supervisors for the sub-region as recommended by the National Insurance Commission (NAICOM). To this end, a meeting was held in Ghana recently to discuss modalities...

A total of 22 employees of Sovereign Trust Insurance Plc have been elevated by the management following the outcome of the company’s 2014 performance appraisal exercise. Top on the list of the elevated staff is the Eastern Area Manager, Angela Onochie, who becomes an Assistant General Manager from her hitherto Senior Manager Position. Ebinyu Faloughi, who was before...

As part of efforts to increase the knowledge base of the Nigerian insurance industry, arrangements have been concluded for the public presentation of the book; “Essentials of Engineering Insurance,” authored by former Managing Director of ACEN Insurance Company Limited, Emmanuel Oyetoyan. The public presentation holds today July 2, 2015 in Lagos. The book is borne...

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 Rating (ICR) of five Nigerian based insurance outfits rated by the organisation, stating that Mansard Insurance Plc’s rating is uncertain. While B u Stable (FSR) and bb+ u Stable (ICR) were assigned to Mansard...

The National Insurance Commission (NAICOM) has approved the audited accounts of Staco Insurance Plc for 2014, the company’s Managing Director, Sakiru...

By Sola Alabadan –   Lagos   African insurance operators have been charged to roll out attractive and innovative products that target the informal sector if the industry is desirous at ensuring that majority of the people embrace insurance as expected. Ghana’s Commissioner of Insurance, Ms. Lydia Lariba Bawa, made this call during the 37th annual ordinary...