Insurers bow to sector’s recapitalisation pressure, commend regulator
Key players in the nation’s insurance industry have finally agreed to recapitalize the sector, saying it will streamline and strengthen underwriting firms that will survive the new capital regime.
Experts seek enforcement of estimated N1 trillion housing insurance
Experts in the insurance sector have said that the compulsory housing insurance policies in the country if enforced, would be valued at over N1trillion, urging the National insurance Commission....
Anchor's financial account gets approval for compliance
The Management of Anchor Insurance Company Limited has received the approval of the National Insurance Commission (NAICOM) for its audited financial statement for the year ended December 31, 2018.
NAICOM plans review of SIP to drive insurance adoption in states
There are indications that the National Insurance Commission (NAICOM) would review the cancelled State Insurance Policy (SIP) policy in a bid to enhance insurance...
NAICOM okays Nwokeocha’s appointment as Cornerstone Insurance’s ED
The National Insurance Commission (NAICOM) has confirmed the appointment of Mr. Chidiebere Nwokeocha as Executive Director, Institutional Business of Cornerstone Insurance Plc. The industry regulator conveyed the confirmation in a letter addressed to the company’s chairman and signed by the Director, Governance, Enforcement and Compliance, Mr. L.M. Akah, on behalf of the Commissioner for…
Government insists on recapitalisation of insurance industry
The Federal Government has charged insurance operators not to work against the current industry recapitalisation move by the National Insurance Commission (NAICOM), which is aimed at taking the industry to lofty heights.
Wapic raises share capital to N15b ahead of regulatory order
Wapic Insurance Plc has secured the approval of its shareholders to increase the authorised share capital of the company from N8.5 billion to N15 billion, by the creation of 13 billion additional ordinary shares of 50 kobo each. The National Insurance Commission (NAICOM), had on May 20, given insurance companies a 13-month ultimatum to recapitalise…
Insurance sector seeks N463 billion fresh capital
Insurance and reinsurance firms operating in the country in line with the new capital regime announced by the National Insurance Commission (NAICOM) would have to shop for N463 billion to enable them remain afloat.