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22 Feb 2015
LEADING indigenously-managed Nigerian financial services firm, Asset & Resource Management Company Ltd (ARM) and South African-based fund managers, Harith General Partners (Pty) Ltd (Harith) have restated their commitment to provide much needed long term equity capital for funding infrastructure in Nigeria and West Africa.    This they intend to do through their joint venture initiative,…
22 Feb 2015
THE Management of International Energy Insurance Plc demonstrated social empathy towards the less privileged at the weekend by visiting the Heritage Homes  Orphanage, assuring the children that there is still hope for the future. Giving hope to the less privileged is part of the company’s Corporate Social Responsibility activities which stem from its core business…
22 Feb 2015
PAN Africa Insurance Holdings expects full-year profits for 2014 to fall by at least a quarter on reduced gains from its investment at the Nairobi Securities Exchange (NSE).   The insurer said that gains from the Nairobi bourse last year were lower compared to 2013, which was further compounded by reduced deals in the property…
NAICOM
15 Feb 2015
THE National Insurance Commission (NAICOM) has warned underwriting firms, intermediaries under-pricing insurance products to desist henceforth from the unprofessional conduct, as it will not hesitate to cancel the licence of any insurance firm or broker caught in the act.   The Commissioner for Insurance, Fola Daniel, addressing insurance correspondents at a seminar organized by the…
15 Feb 2015
ARM-HARITH Infrastructure Investment Ltd (ARMHIIL), a Joint Venture between Asset & Resource Management Company Ltd (ARM) and Harith General Partners (Pty) Ltd (Harith) of South Africa, has announced first close of the indigenously developed and managed ARM-Harith Infrastructure Fund (ARMHIF).   A pioneering US$250 million closed-ended specialist PE Infrastructure Fund, ARMHIF is structured in line…
15 Feb 2015
THE Board of Directors of Industrial And General Insurance Plc (IGI) has appointed  Rotimi Fashola as the substantive Group Managing Director. He succeeds Mr. Remi Olowude, the company’s Executive Vice Chairman/Founder, who passed on last year.   Fashola’s appointment, which takes immediate effect, was part of the decisions taken at a meeting of the board…
15 Feb 2015
AFRICAN Risk Capacity (ARC),  a programme set up by the African Union and United Nations is  to provide insurance cover to fight against drought and natural disasters, as well as  help Africans  states to prepare for extreme weather events and protect “food insecure” populations.   Several months on from its launch last May, the insurance…
15 Feb 2015
SOUTH African financial services group MMI Holdings has acquired a controlling stake in Kenya’s Cannon Assurance, kicking off an expected series of mergers and acquisitions anticipated in the industry this year.   Under the deal, MMI’s subsidiary in Kenya, Metropolitan Life, will own 66 per cent of Cannon Assurance in a merger to be known…
15 Feb 2015
NIGERIA’S insurance sector no doubt is a critical part of our economy and has the capacity to boost economic development through risk transfer mechanism.   Harnessing the sector would be critical as it would create jobs and  foster development in the country.   The Nigeria’s insurance sector ranks about 65th in the world and fifth amongst…
15 Feb 2015
LASACO Assurance Plc has announced the promotion of four general managers and elevation of 36 others to different cadres.    The new general managers are. Akinwale Sofile, Finance & Accounts,  Shobo Ademoye, Marketing. Oluyemi Samson, Technical and Olona Oladimeji, LASACO Life.   The Group Managing Director of LASACO Assurance Plc,  Olusola Ladipo-Ajayi, Speaking on the…
15 Feb 2015
IN an effort to drive efficiencies in insurance business and increase insurance and pension penetration in Sub-Saharan Africa, leaders in the financial services industry and bancassurance practitioners in the region will meet in Lagos in a special summit tagged 1st Sub-Saharan Africa Insurance, Pension and Bancassurance Summit, courtesy of West Africa Business School, a well…
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…

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