National Insurance Commission
NAICOM to engage NYSC members for CDS in Insurance
The National Insurance Commission (NAICOM) is in discussions with the National Youth Service Corps (NYSC) management to engage at least 50 corps members on yearly basis for a group Community Development Service (CDS) in insurance, the commission’s head, Market Development, Adeyemi Abubakar, has revealed. He, however, explained that the 50 NYSC members to be…
Shippers Council, NAICOM to de-risk costs at ports
The Nigeria Shippers Council (NSC), and the National Insurance Commission (NAICOM), plans to collaborate to reduce the cost of doing business through the introduction of insurance cover on containers, and also looking into risk management at the various ports. The Lagos Chamber of Commerce and Industry (LCCI), had complained of the high cost of doing business…
Insurers upbeat about September 2021 recapitalisation deadline
The ongoing recapitalisation exercise in the insurance sector may be getting the required boost, as insurers articulate commitment to the exercise
'Why 33 insurers may not meet December recapitalisation deadline'
In a quest to make insurance industry viable among other sectors of the economy and to also give directions to the regulator, African credit rating agency, Agusto & Co has said that only 26 out of 59 insurance companies in Nigeria might meet December 31, 2020 deadline as 33 firms may have to explore the…
NAICOM expresses concern over obsolete insurance laws, seeks urgent amendment
The National Insurance Commission (NAICOM), has reiterated the call for the amendment of some obsolete laws governing insurance practice in Nigeria in line with current realities.
‘Why insurers shun N323 billion annuity business’
About five life operators in Nigeria’s insurance industry have cut down on their annuity business portfolio as volatility, inflationary pressure, and low returns on investment
NAICOM, others seek sector reformation with actuaries
In a quest to upgrade the standard of insurance practice in Nigeria, the National Insurance Commission (NAICOM) has revealed plans to raise 100 actuarial analysts
NAICOM to kick off two-year licence renewal for brokers April
The National Insurance Commission (NAICOM) has said it will commence a two-year license renewal process for insurance brokers and loss adjusters by April 1, 2020.