Mutual Benefits canvasses grassroots investments to deepen penetration
THE Group Managing Director, Mutual Benefits Assurance Plc, Akin Ogunbiyi, has said that the key to deepening insurance penetration in Nigeria is investments in grass root operation in alignment with the Market Development and Restructuring Initiative (MDRI) initiated by the National Insurance Commission (NAICOM). Speaking at the presentation of the award “The best innovative insurance…
Why Bayer has staged a comeback to Nigeria’s economy, by Konig
The Management Board Member of Bayer AG of Germany, Michael Konig was recently in Nigeria to formally flag-off the return of the global conglomerate to the nation’s economy, through the floating of a new company-Bayer Middle Africa Limited. Before he left the country, Konig spoke with the Business Editor, ADE OGIDAN on the allures of Nigeria’s economy and prospects of Bayer’s new outfit in the country. Excerpts
RIMSON has raised the bar in risk management, says Adeosun
We congratulate you on your election as president of (RIMSON). What has been the major steps taken by the society to enhance public awareness about risk management in Nigeria THANK you very much. Education is the antidote to ignorance, recall that the Holy Book states that my people perish for lack of knowledge. Therefore, education…
NAICOM tasks labour unions on CPS compliance
THE National Insurance Commission (NAICOM) has advised the leadership of the Nigerian Labour Congress (NLC) to leverage on the provisions of the Pension Reform Act 2014 by ensuring that workers are sensitized to demand for their rights as provided in the Act, to ensure that both public and private sectors comply. The Commissioner for insurance,…
Law Union & Rock to boost human capital
THE Chairman, Law Union and Rock Insurance Plc, Mrs. Adenike Adeniran has said that the company was fortifying its workforce to move the firm to the next level. She said this during the company’s 46th yearly general meeting in Lagos. “We are fortifying our workforce by attracting good hands and through training and retraining, making…
Prime Insurance unveils fire cover for low income earners
ORDINARY Rwandans could soon be able to safeguard their property against fire, thanks to a new insurance product introduced on the market by Prime Insurance. John Bugunya, the chief executive officer, said the product will see clients buy premiums against fire for as low as Rwf1,000 per month. Bugunya said they are targeting small business…
NIBSS, PENOP partner on electronic pension contribution collection system
THE Nigeria Inter-Bank Settlement System Plc (NIBSS) and the Pension Fund Operators Association of Nigeria (PenOp) have partnered to launch the Electronic Pension Contribution Collection System (EPCCOS).
Union Assurance changes name to Ensure Insurance
UNION Assurance Company PLC has changed its name to Ensure Insurance PLC to reflect its new ownership, following the successful acquisition of majority stake in the underwriting firm by Greenoaks Global Holdings Limited.
‘Underwriting sector offers significant potential for investors’
ALTHOUGH fluctuating oil prices threaten Nigeria’s economic expansion, the country’s insurance sector offers significant potential for foreign investors attempting to build a profile in the market, according to A.M. Best in a special report.
RIMSON to hold training on oil, gas
THE Risk Managers Society of Nigeria is to organise a two day training on Risk Management in the Oil and Gas industry in order to further breach the knowledge gap amongst operators in the oil and gas industry, the services sector, and interested members of the public.
Prestige Assurance strategies for profitability
PRESTIGE Assurance plc is redefining its operational strategies that would not only enable it deepen presence in the domestic market, but control a larger share of the nation’s insurance businesses.
Cornerstone records N1.39b PBT
GROUP Managing Director of Cornerstone Insurance, Ganiyu Musa, has stated that despite the challenging operating environment, the company recorded profit before tax (PBT) of N1.39billion in the financial year ended December 31, 2014, representing a 48 per cent growth over its 2013 PBT of N940million.