The Commissioner of Insurance and Chief Executive Officer of National Insurance Commission (NAICOM), Olorundare Sunday Thomas has disclosed that the total assets of the insurance sector grew at an average of 12 percent from an asset base of N827.5 Billion…
The number of insurance companies licensed to operate in Nigeria has hit 67, according to latest figures obtained from the National Insurance Commission on Sunday. Figures obtainedfrom NAICOM during the weekend revealed that the companies rose from 54 to 67…
The National Insurance Commission (NAICOM) has called on insurers to develop specialised products to address the needs of the oil and gas industry. Commissioner for Insurance and CEO, NAICOM, Mr Olorundare Sunday Thomas, said this in a keynote address presented…
The National Insurance Commission (NAICOM) and the National Information Technology Development Agency (NITDA) is partnering to activate the process of institutionalising cyber insurance. A statement by the commission in Abuja on Tuesday said the partnership would help to strengthen the…
National Insurance Commission (NAICOM) has charged operators within the industry to comply with its new guidelines on products and services to ensure professionalism. Mr Rasaaq Salami, Head, Corporate Communication and Development, NAICOM said this in a statement on Friday in…
The National Insurance Commission (NAICOM) says it is engaging with the Independent Shareholders Association of Nigeria (ISAN) to develop mutual trust and deepen corporate governance in the insurance industry. NAICOM said this in a statement on Wednesday in Abuja. The…
The National Insurance Commission (NAICOM) and Insurance operators have decided to publish all outstanding claims in Nigerian newspapers. This development came to light during a press briefing after the 14th Insurers’ Committee meeting held in Lagos while the Head of…
The National Insurance Commission (NAICOM) has directed Chief Executive Officers (CEOs) of Insurance companies to invite policyholders with outstanding claims with their firms, through advert placement, to come forward to present their claims for settlements. Sub-committee member, Committee on Publicity…
Nigeria’s local insurance firms lost about N81.8 billion to their foreign counterpart instead of N37.8 billion as provided by the relevant local content law on oil and gas insurance in 2022. The law stipulated that 70 per cent of total…
The insured made claims of N318.2 billion on insurance companies in the last quarter of 2022. The National Insurance Commission (NAICOM), regulator of the industry stated in Lagos on Thursday that the claims represented a 31.2 per cent Quarter-on-Quarter growth…
