National Insurance Commission
'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 rallies National Assembly to insurance potential, growth
Acting Commissioner for Insurance, National Insurance Commission (NAICOM), Sunday Thomas, has urged the National Assembly (NASS) to support the commission to the bid to tap the full potential of the industry
‘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 pushes operators to engage actuary for annuity uptake
NAICOM, has warned that firms operating without in-house actuary would soon be denied the opportunity to underwrite the annuity business in Nigeria.
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.
Underwriters seal pact with MFBs to drive insurance policy uptake
Insurance companies will soon be allowed to partner Microfinance Banks on the Bancassurance arrangement in a bid to deepen insurance penetration in the country.
Underwriters target higher premium in 2020
The nation’s underwriters are optimistic that the industry would make more premium income from Group Life Insurance business in Year 2020, as opposed to previous years.
NAICOM assures of refund to investors of failed operators
The National Insurance Commission (NAICOM) has said funds raised from investors in the ongoing recapitalisation would be refunded if the insurance operators failed to scale through.
How N3.4 billion premium is raising investors recapitalisation hopes
Recapitalisation is a form of a 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.