By Olumide David Afrexim Bank Insurance Management Company (AFREXInsure) – a subsidiary of African Export – Import Bank (AfreximBank) of African Export-Import Bank (Afreximbank) – has secured its first insurance policy, facilitating the issuance of construction insurance cover to Oman Shapoorji…
The National Pension Commission (PenCom) has approved the withdrawal of over N1.72 trillion for Pension Fund Administrators to pay Retirement Savings Account (RSA) holders from inception to 31st December 2022. According to PenCom in its 2022 4th quarter report, retirees…
Leadway Assurance Limited, stated in its 2022 financial year, records a total premium collection of N104.4 billion of which Gross Written Premium (GWP) was N92.5 billion; N10.8 billion from its Savings & Investment subsidiary and another N1.1 billion from its…
Insurance Industry paid claims worth N318.2billion in the fourth quarter of 2022, representing a 31.2 per cent growth. According to Statistic Department Quarterly Report Of the Insurance Market Fourth Quarter, 2022 released by the regulatory body of the industry, National Insurance…
Some experts in the insurance industry have commended the consistent increase in gross income and settlement of claims by insurance companies. Some of the experts who spoke to journalists in Abuja during the week attributed the successes to improved policyholders’…
By Olumide David Mutual Benefits Assurance has appointed Alhaji Lateef Akande Bakare, Mrs. Wunmi Eniola-Jegede and Mr. Joseph Oladokun as Directors. This was made in a disclosure to the Nigerian Exchange Limited, shareholders and the publics. It was further stated by…
By Olumide David The Chartered Insurance Institute of Nigeria, president, Mr. Edwin Igbiti, along with, Mrs. Yetunde Ilori decorated the new ambassador of insurance 2023/2024, Amb. Aderonke Faidat, a Staff of Linkage Assurance Plc, Winner of the nite and CIIN…
A former President, Nigerian Council of Registered Insurance Brokers, Dr Teslim Adekunle Sanusi, has emphasised the need for individuals and corporate organisations to give to the needy. A statement said while celebrating his 80th birthday by organising medical outreach for…
The National Insurance Commission has raised the premium for third-party motor insurance premium from N5,000 to N15,000 effective January 1, 2023. NAICOM disclosed this in a circular with the number ‘NAICOM/DPR/CIR/46/2022 to all insurance companies titled ‘New premium rates for…
Dakar, December 8, 2022 – The Pan-African Risk Management Capacity (ARC) today announced the official launch of the parametric insurance product against high-impact epidemic risks and Senegal’s participation as the first African country to join this innovative new financing mechanism.…
