Insurance companies will soon be allowed to partner Microfinance Banks on the Bancassurance arrangement in a bid to deepen insurance penetration in the country.

As insurers show commitment to the ongoing recapitalisation exercise in the industry, they explain that a process is a form of a corporate reorganisation, which involves making substantial changes to a company’s capital structure.

To tackle climate change risk effects on farmers in the country, Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN), in partnership with the Pan-African agricultural insurance advisory firm has unveiled an innovative insurance package for smallholder farmers.

Determined to increase the shareholders confidence in the nation’s insurance industry, underwriting companies have been wooing investors with better returns on investments.

Against the backdrop of the natural and man-made disasters lurking around the country, insurance chief executives in the country have admonished Nigerians against overlooking the importance of insurance, including insuring their lives.

Recapitalisation is a form of corporate reorganisation, which involves making substantial changes to a company’s capital structure. It is one of the strategies companies use to improve their financial stability. Currently, the insurance industry is undergoing the process.

An expert in the nation’s insurance industry has warned Nigerians against the “Standard Payment Investment Scheme" currently circulating on social media platforms, purporting to collaborate with underwriting companies to extort money from the public for better investment returns.

Recapitalisation is a form of corporate reorganisation, which involves making substantial changes to a company’s capital structure. It is one of the strategies companies use to improve their financial stability. Currently, the insurance industry is undergoing the process.

Experts in the nation’s insurance industry have called on Federal Government through the National Insurance Commission (NAICOM) to consider the conversion of underwriting companies that are not able to scale the recapitalisation hurdles into microinsurance underwriters.

Insurance agents across all underwriting companies in Nigeria have urged parents to take appropriate insurance policies that can help to secure their children’s future.

Identifying the need to diversify insurance products to meet the needs of every Nigerian will help to increase insurance penetration across the country, the sector experts have said.

The inevitability of risk in human life gave rise to the concept of insurance; a contract whereby the Insurer undertakes to indemnify the Insured or the Assured against risk of loss, damage and liability.