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.

The fate of about 34 insurance companies currently operating in the country may be hanging in the balance, with about 25 others having a brighter chance of scaling through, going by the report of Coronation Research.

Stakeholders in the nation’s insurance industry have expressed support for the ongoing recapitalisation exercise, saying it would boost the sector’s contributions to the economy.

Experts in the nation’s insurance industry have charged underwriters across the country to make prompt claims settlement a priority if they indeed want to increase insurance penetration in the Nigerian market.

The National Insurance Commission (NAICOM) has said the liquidity position of some underwriting companies in the country has hindered the industry’s progress, with heavy investments on fixed assets.

The doyen of the insurance industry, Olola Bode Ogunlana, has advised the leadership and members of the Chartered Insurance Institute of Nigeria (CIIN) to regain Nigerians’ confidence in adopting insurance policy and benefitting fully from all it offers.

Wapic Insurance Plc has posted a gross written premium with a 24 per cent increase to N8.7 billion in the second quarter of 2019, compared to N6.9 billion in the same period of 2018.

Allianz Nigeria, the local operating entity of global insurance giant, Allianz Group, has finalised plans to provide insurance and protection services to German nationals and businesses domiciled in Nigeria.

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Determined to regain Nigerians’ confidence on the nation’s insurance industry, AXA Mansard Insurance Plc, has stressed the need for organisations to embrace insurance products that will protect the security and data of their customers from risks of cybercrimes. The Chief Executive Officer, AXA Mansard Health Limited, Tope Adeniyi, said this at a breakfast meeting with…