Insurance
1 day ago
Following the nationwide enforcement of the Third-Party Motor Insurance Policy, underwriting firms may realise over N142 billion in revenue from 9.5 million uninsured vehicles in the country by the end of this year.
4 days ago
President Bola Tinubu on Friday congratulated Dr Funmi Babington-Ashaye on his 60th birthday, applauding her career in the insurance sector and commitment to Nigeria’s socioeconomic advancement. “As the 48th President of the Chartered Insurance Institute of Nigeria (CIIN), Babington-Ashaye, now the CEO of Risk Analyst Insurance Brokers, spearheaded innovative reforms that elevated industry standards and…
2 Feb
Police Command in Kogi has warned defaulters as it begun the enforcement of mandatory Third-Party Insurance Policy for all vehicles in compliance with the directive of the Inspector-General of Police (IGP), Kayode Egbetokun. The Commissioner of Police, Mr Miller Dantawaye, has ordered strict adherence to the IGP directive across the state. Dantawaye, in a statement…
1 Feb
The Police Command in Kaduna State says it has begun the enforcement of Third Party Insurance Policy from Saturday. The command’s spokesperson, DSP Mansir Hassan, announced this in a statement issued on Saturday in Kaduna. Hassan said that the enforcement was in line with the directive of the Inspector General of Police, Dr Kayode Egbetokun.…
29 Jan
Industry statistics revealed that Nigerian insurance firms recorded N3.88 billion in total assets as of the third quarter of last year, an increase of 5.1 per cent compared to the corresponding period of 2023 when it reported N2.81 billion.
20 Jan
The rising rate of insurance claim defaults is unsettling in the sector, and the insured is fast pitching against the insurers.
13 Jan
Lagos State Resilience Office (LASRO), in partnership with the Resilient Cities Network, global insurance intermediary group, Howden, and key private sector stakeholders is set to hold the Lagos Water Risk and Insurance workshop in Lagos on Wednesday, 15th, and Thursday, 16th of January, 2025. Chief Resilience Officer for Lagos State, Dr. Folayinka Dania, who disclosed…
6 Jan
Stakeholders in the country’s insurance industry have expressed optimism that the sector would become a major force in the financial sector, contributing significantly to the country’s gross domestic product (GDP) growth.
17 Dec
The Nigerian Senate has passed the 2024 Nigerian Insurance Industry Reform Bill. This followed the adoption of the report from the Committee on Banking, Insurance, and Other Financial Institutions at plenary on Tuesday. The report was presented by the Chairman of the Committee, Senator Abiru Adetokunbo (APC-Lagos). Senator Adetokunbo, while presenting the report, noted that…
11 Dec
The National Health Insurance Authority (NHIA) announced that health insurance coverage in Nigeria increased by 40% over the past year, growing from 16.7 million to 19.2 million enrollees. This accomplishment, the agency noted, surpassed the presidential target for health insurance coverage in 2024. During an end-of-year briefing on Wednesday in Abuja, NHIA Director-General, Dr. Kelechi…
26 Nov
Stakeholders in the insurance industry across Africa said optimal adoption of artificial intelligence (AI) is needed to increase the penetration and growth of the industry. Insurance experts who gathered at the just-concluded West African Insurance Companies Association Conference in Accra, Ghana, said AI adoption would transform the industry. AI technology, according to them, has gained…
16 Nov
The Managing Director of Cornerstone Insurance Plc, Stephen Alangbo, has over 30 years of experience in the insurance industry. His professional contributions to the industry came to limelight when he won the ‘Top 25 CEOs Award,’ in the BusinessDay award,