… Appoints director
Mrs. Mosun Belo-Olusoga has been appointed as an independent director to replace Mr. Paul Usoro (SAN) who formally retired from the board after completing two consecutive terms totaling six years. The appointment has been approved by the National Pension Commission (PenCom).
‘African risks market worth S1.4 billion’
THE African insurance single market is worth $1.4 billion. Insurance companies are struggling to gain a foothold in Africa, where populations tend to favour community insurance schemes. These are often informal agreements between trusted friends and family members., EurActiv France reports.
PenCom collaborates with university on capacity building
IN its determination to improve the leadership and managerial skills of its staff, the National Pension Commission (PenCom) has collaborated with the Business School of the University of Edinburgh, United Kingdom, to train some members of staff.
‘Risk mechanism is bedrock of African growing economy’
THE management of Continental Reinsurance Plc, has said asserted that insurance has an immense role to play in Africa’s growing economy.
SA insurers face tough market penetration challenge
SOUTH African insurers looking for growth in the rest of Africa need to move fast as they can expect strong competition from large European insurers chasing the same markets. PwC long-term insurance leader for Africa, Victor Mugoto, said that large European insurers like AXA and Prudential have substantial balance sheets, sophisticated models and are experienced…
‘Uganda’s market lags behind neighbours’
UGANDA’S insurance sector has failed to penetrate due to mistrust and lack of information, compared to its East African Community (EAC) counterparts. According to reports, Uganda has penetrated on 0.8 per cent of the population, Tanzania 2.3 per cent Rwanda 1 per cent while Kenya has the biggest penetration at 3.8 per cebt. According to…
Cynthia Okoro emerges as Miss Insurance
Director-General of the Institute Kola Ahmed, noted that the institute has remained the unifying organ of the industry, adding that the institute would continue to provide platforms that keep the industry together as one. He thanks sponsors of the event and prays that it continues to add value to the development of the industry.
NAIC to promote climate risk services to farmers
The NAIC boss said “NAIC has the experience of being the foremost insurer of agricultural related risks for over the past two decades. It remains our utmost intention to remain the market leader in this regard. As such, we will continue to provide adequate insurance cover using various customized products, across the entire agricultural value chain for all risks. This to ensure that the huge financial investment in Agriculture remains protected”.
‘Pensions assets in Nigeria have remained robust, well protected’
The PenOp boss explained that from all economic statistics, pension fund have been protected in this country by regulation and practice of operators. Safety is the most paramount thing. Liquidity is the next, because contributors get paid not by bread and butter, people get paid in cash, therefore pension must be liquid, the next is returns on investment as part of the business, you cannot keep money stagnant.
Drug makers turn heat on insurers for cover
After Julie Davis of Louisville, Kentucky, had to change insurers last May, her pharmacy called. Refilling her prescription of Keppra XR, a drug that controls seizures, would cost Davis $1,267 out of pocket under her new plan, which carried an $11,000 deductible for her family, she said. Davis, who has epilepsy, switched to a generic version of the drug, but then suffered seizures in July, August and December.
Cornerstone partners Super Geeks for gadget protection
The Managing Director, Cornerstone Insurance Plc, Life and Retail, Cornerstone Insurance Plc. Tokunbo Bello, said “GPP provides a quick and dependable solution to a major customer dissatisfaction which may arise from the purchase of a new device – damage. More so, you have the peace of mind that your gadget is covered by Cornerstone Insurance PLC that is licensed by NAICOM to transact General, Life and Takaful businesses in Nigeria ”