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Insurance

15 Feb 2015
THE International Monetary Fund (IMF) Executive Board last week approved $700 million package for Kenya.   The money is an insurance against external shocks. According to an IMF release, this financing is precautionary, as Kenya plans not to draw on it unless the balance of payments comes under pressure.   The financing package approved by…
FOLA-DANIEL-NEW
8 Feb 2015
THE National Insurance Commission (NAICOM) has said  that the nation’s insurance industry, through the  number of regulatory measures taken,  is stable and has  capability  to underwrite risks and pay claims.  Besides, the industry  has the potentials to lead in the African insurance market.   The Commissioner for Insurance,  Fola Daniel,  declaring open a two-day seminar…
NAICOM-NIA-meet-pix
8 Feb 2015
… As CFI holds parley with CEOs THE Nigerian Insurers Association has appealled on the National Insurance Commission (NAICOM) to sustain its efforts in the enforcement of the compulsory insurances listed in the Insurance Act of 2003.   The Association is also seeking the assistance of NAICOM in pursuing the amendment of the Companies Income…
8 Feb 2015
THE African Union’s African Risk Capacity - the continent’s sovereign disaster risk insurer - is developing cover for disease outbreaks and epidemics. In the aftermath of the Ebola crisis that ravaged West Africa last year, ARC Member States requested the development of these services at this week’s African Union Summit in Addis Ababa.   “While…
Ohakim
8 Feb 2015
IN furtherance of the agricultural transformation agenda of the Federal Government through efficient and effective agricultural risk management, the Board of Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the corporation’s market penetration and premium income.   The company’s chairman, Barr. Chioma Ohakim, who disclosed this in Abuja, informed that the…
8 Feb 2015
THE Board and Management of Standard Alliance Insurance Plc, one of the nation’s frontline insurance companies, have initiated a process of restructuring and rightsizing as part of its corporate strategy for growth and efficiency.    The restructuring and rightsizing exercise “involved the reshuffling of some key staff to fill specific positions in line with the…
LA
1 Feb 2015
... Industry paid  N33.993 billion life portfolio claims INSECURITY of life and property in the country may have heightened demand for life assurance policy as hedge against eventuality of sudden death.   Life assurance managers, who spoke to The Guardian attributed the development to the rising  wave of armed robbery attack, sudden death,  militancy, kidnapping,…
1 Feb 2015
… With professional indemnity cover FBN Insurance Limited and Society of Gynaecology and Obstetrics of Nigeria (Lagos Sector) at the weekend signed Memorandum of Understanding (MoU) in Lagos to provide group life assurance scheme and professional indemnity cover for  their members.   The Assistant General Manager (Business Development), Supo Sogelola, who signed  the document for…
1 Feb 2015
THE African Union’s African Risk Capacity’s affiliated mutual insurance company, ARC Ltd, is set to make claim payouts of more than $25 million to three of its member states belonging to its catastrophe insurance pool, which was recently established to help them become more resilient to extreme weather events and protect food insecure populations.  …
1 Feb 2015
THE Managing Director of Premium Pension Limited,  Wilson Ideva, has said that the new contributory pension scheme would soon be pivotal to the social and economic development of Nigeria.    He made this assertion at the company’s corporate head office in Abuja that “The more people identify with and subscribe to the new pension scheme…
1 Feb 2015
Ayodeji Johnson is the Chief Responsibility Officer of Go Risk Insurance Brokers Limited. In this interview with KENECHUKWU EZONYEJIAKU, , he  spoke on the economic and social benefits of insurance, its competitive advantage and other key contemporary industry issues. Excerpts WHY is Insurance the “most misunderstood industry”?    The way insurance has been perceived has…
Balogun-fire-
25 Jan 2015
..Task public on occupation liability policy to mitigate losses FIRE outbreak in both public and private institutions in different parts of the country, boosted insurers renewed appeal to the insuring public to take advantage of  the compulsory insurance -  Occupiers  Liability Insurance Policy (OLIP) in the industry to mitigate losses in the event of  …

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