The Gross Premium Income of LASACO Assurance Plc has risen by 10 per cent to N6.6 billion in its 2017 financial year from N6 billion in the preceding year, while shareholders’ fund also rose to N8.15 billion in the review period, from N7.85 billion in 2016.
PenCom recovers N11b from non-remitting employers
The National Pension Commission(PenCom) has recovered over N11 billion between 2013 and 2017, from employers who refused to remit the pension contributions of their workers into the Retirement Savings Account(RSA).
NEM offers investors 10kobo dividend on N13.4b gross earnings
An underwriting firm, NEM Insurance Plc, has declared a dividend of 10 kobo per share for its investors for the financial year ended 31, December 2017, as its gross earnings hit N13.4 billion.
Custodian unveils ‘Max Chatbox’ to unlock sector potential
Custodian Investment Plc, the parent company of Custodian and Allied Insurance Limited has introduced an online platform called Max Chatbox, which would allow customers to buy insurance policies and process claims in the sector.
Legacy Pension Managers promises prompt payment of claims
Legacy Pension Managers Limited, a Pension Fund Administrator (PFA) with particular focus on the overall welfare and satisfaction of its customers, has continued to deliver sustained return on investment, quality service and prompt payment of retirement benefits to its retirees.
RIMAN names Nnoka new president
Risk Managers Association of Nigeria (RIMAN ) at the end of its 18th Annual General Meeting (AGM) /election that took place on the 8th of June 2018 in Lagos, named Magnus Nnoka the new president of the association. Nnoka has over two decades experience in the banking sector that cut across banks and core areas…
Pension firm tasks workers on early planning for retirement
Public servants have been urged to begin their exit from service early to prevent late process of their retirement documents. The Executive Director, Investment, Stanbic IBTC Pensions Managers Nigerian Limited, Oladele Sotubo, said proper and early planning would address the challenges and lapses in the pension scheme. He stated this in a one-day customers…
Prestige Assurance, Union Diagnostic, others top stock market N96b loss
Following price losses suffered by most bluechip stocks, especially Prestige Assurance and Union Diagnostic, transactions on the equity sector of the Nigerian Stock Exchange (NSE) re-opened on a downturn yesterday, causing market capitalization to dip by N96 billion. Yesterday, the All-share index shed 263.87 absolute points or 0.68 per cent to close at…
Cleric tasks operators on transparency, accountability in insurance industry
Operators in insurance industry have been charged to imbibe the culture of transparency and accountability in the discharge of their respective business activities. The Chief Imam, Magodo Central Mosque, Abdul Semi’ Olatunji Alkhelany, said this at the 2018 Ramadan Tafsir Lecture, organised by the Chartered Insurance Institute of Nigeria (CIIN), in Lagos. According…
Lagos prioritises pension benefits of physically challenged retirees
Lagos State government has promised to pay pensioners with physical disability or terminal illness their pensions immediately on their retirement. The Director-General of the Lagos State Pension Commission (LASPEC), Folashade Onanuga, who stated this at the 14th Retirement Benefit Documentation Seminar for employees in the state’s public service due to retire between July and…
Prestige Assurance records N3.8 million premium
Prestige Assurance Plc has posted a Gross Written Premium, which showed that the company achieved N3.809 million in 2017, against N2.614 million recorded in 2016. The Managing Director, Balla Swammy, disclosed this at the company’s 2017 yearly general meeting in Lagos, recently. The growth of the premium in the year under review was achieved as…
Experts link robust insurance, economy to infrastructure development
Industry experts and stakeholders have attributed the lull in the economy to infrastructure deficits, explaining that the ecosystem calls for a deliberate effort to close the existing gap between the sector’s contribution and need for economic growth. The experts, who gathered at the Business Journal’s 10th anniversary lecture, unanimously agreed that there is a link existing among…