insurance

The FBNInsurance Limited recently held its quarterly retail managers training for its Area Sales Managers, Senior Sales Managers and Retail Sales Managers respectively in Uyo, the Akwa Ibom state capital. The firm undertakes the quarterly exercise to serve two purposes: to continuously improve the sales knowledge and capacity of its retail team, and also to align the sales team with Read More

Consolidated Hallmark Insurance Plc said it has received approval from the relevant regulatory authorities to raise additional sum of N1.05 billion through Rights Issue to boost its capital base. The Securities and Exchange Commission (SEC) gave the approval to the General Insurance and Special Risks underwriter to offer a total of 2,032,500,900 units of 50 kobo each at 52 Kobo Read More

Underwriting firm, Linkage Assurance Plc has recorded a 902 per cent growth in profit before tax (PBT) for the fourth quarter (Q4) unaudited financial statement ended 31st December 2019. The figure rose to N1.4 billion as at the end of 31, December, 2019 as against N135 million in same period of 2018. The Underwriting firm, gross premium written also rose Read More

Chief Executive Officer of the Nigerian Stock Exchange , Mr Oscar Onyema said that undercapitalization witnessed by many licensed insurers limit their ability to take on big ticket in country risks as often required in the oil and gas, marine and aviation sectors. Onyema who stated this in Lagos at insurance sector forum said as at third quarter of 2019, Read More

The European Investment Bank (EIB), has formally agreed to support the membership expansion of the African Trade Insurance Agency (ATI), with a concessional financing facility to cover the shareholding of three prospective members – Cameroon, Niger and Togo. This represents the first time the EIB has backed ATI’s membership expansion, as unlocking additional investment insurance is expected to transform public Read More

Vice President Yemi Osinbajo at the weekend expressed concerns over the several risks associated with investment in the insurance sector, and the need for government and stakeholders to tackle the challenges that have nearly crippled the industry. The challenges, according to him, include lack of adherence to insurance practice which makes it difficult for government to achieve its objectives for Read More

NEM Insurance Plc has been honoured with the awards of Digital Insurance Brand of the Year 2018 and Most Innovative Underwriter of the Year 2018 at the just concluded Business Journal Magazine Awards 2019. The Business Journal Second Annual Lecture and Awards which took place in Lagos recently was Chaired by the Chairman, Nigerian Insurers Association (NIA) and Managing Director/Chief Read More

Car owners in the province won’t be surprised, but British Columbians are still paying the highest auto insurance premiums in Canada. The General Insurance Statistical Agency released numbers Tuesday showing that British Columbians pay an average of $1,832 for car insurance per year. The organization gathering the information works behalf of insurance regulatory authorities that have private insurance options. B.C. is Read More

Nigerians have been urged to shun corrupt tendencies; this is because when corruption reigns, all sectors of the economy suffer, just as it was advocated that there is need for the nation to assiduously work on redeeming the negative identity other nations tagged Nigerians. The stakeholders in the insurance industry were also called to close ranks, work as a team Read More

Royal Exchange General Insurance Company (REGIC) has revealed that the 39.25 per cent acquisition by the InsuResilience Investment Fund (IIF) in the firm, represents a N3.6 billion capital injection. This development was mentioned at a briefing in Lagos, where the Managing Director of REGIC, Benjamin Agili, said that with the investment, the company would be able to achieve its key Read More

The Chartered Insurance Institute of Ghana (CIIG) is seeking for the power to impose sanctions on insurance professionals who engage in unethical behaviours. This is because the CIIG is working on submitting a bill which will regulate the activities of insurance practitioners to parliament before the end of February. Also known as the Chartered Insurance Bill, the President of the Read More

Owing to the low contribution of the insurance sector to the Gross Domestic Product (GDP) and the poor perception by the general public, a nationwide campaign to rebrand the industry is set to kick off in June, 2018. The rebranding campaign, which is being championed by the Insurers Committee, is geared towards changing the negative perception of the public towards Read More

Stakeholders in the Nigeria insurance sector have begun the reform strategy to give a new face to the industry that has suffered decades of non-performance. Vice Chairman Sub Committee Publicity of the Insurers Committee, who is also the Managing Director NSIA Insurance Company Limited, Ebelechukwu Nwachukwu, said in Lagos, that the long awaited rebranding initiative will begin Friday June 1. Read More

With the nation’s insurance industry contributing less than 0.1 per cent to Nigeria’s Gross Domestic Product (GDP), experts have suggested the Blockchain Technology (BT) to be the catalyst of growth to the insurance industry. Specifi cally, the insurance and financial experts maintained that BT can drive and sustain the level of GDP growth desired by the government leveraging on the Read More