The insurance sector recorded an increased growth rate of 11.9 per cent with a total asset of about N2.3 trillion in the second quarter of 2022. This is according to the National Insurance Commission (NAICOM). A performance document released by…
Sanlam General Insurance Nigeria Ltd. has secured the approval of the National Insurance Commission (NAICOM) to underwrite agricultural business risks. The Managing Director of the company, Mr Bode Opadokun, said this in a statement on Tuesday in Lagos. Opadokun said…
Nigerian airline operators are finding it extremely difficult to pay the premium on their assets such as aircraft and others, the Director, Policy and Regulations, Nigerian Insurance Commission, Leo Akah, has said. He said any carriers were breaking the insurance…
The Federal Government has directed the National Insurance Commission (NAICOM) to deepen insurance penetration by making insurance companies develop new insurance products and policies. Minister of Finance, Budget and National Planning Mrs Zainab Ahmed gave the directive in Abuja yesterday…
The National Insurance Commission (NAICOM) has warned that to strengthen Nigeria’s insurance industry, it may sanction more insurance companies through liquidation. This was disclosed by the Deputy Commissioner, Technical, NAICOM, Mr Sabiu Abubakar, at the Chartered Insurance Institute of Nigeria…
The Federal High Court in Lagos has held that the National Insurance Commission (NAICOM) cannot increase the statutory minimum solvency capital policy for Insurance companies without the National Assembly amending the Insurance Act and Regulation 2003. Justice Chukwujeku Aneke made…
The National Insurance Commission (NAICOM) has announced the cancellation of the Certificates of Registration of Niger Insurance Plc and Standard Alliance Insurance Plc. The action by the apex insurance regulator might not be unconnected with the financial and liquidity crisis…
The Nigerian Content Development and Monitoring Board (NCDMB) and the National Insurance Commission (NAICOM) have signed insurance services guidelines which would oblige the oil and gas industry to patronise the local insurance sector. A statement issued on Monday by the…
Key stakeholders in Nigeria’s financial sector would engage in a robust round table discussion on government’s key policy which centres around inclusive financial system that will cover all strata of the society. The experts drawn from key private sector organisations…
The Nigerian Content Development and Monitoring Board (NCDMB) and the National Insurance Commission (NAICOM) have signed insurance services guidelines which would oblige the oil and gas industry to patronise the local insurance sector. A statement issued on Monday by the…
