AXA’s gross premium increases by 26%
AXA Mansard Insurance Plc has declared gross written premium of N33.9 billion in its 2018 financial year, up by 26 per cent from the N26.8 billion in 2017. The company’s net premium income grew by 43 per cent to N19.7 billion from N13.8 billion in 2017, while profit before tax rose by five per…
Experts charge operators to shore up capital base for bigger deals
With the cancellation of the Tier Based Minimum Solvency Capital (TBMSC) framework by the National Insurance Commission(NAICOM) late in 2018, the capital base of the industry remains the same.
NAICOM yet to receive court order on TBMSC
The National Insurance Commission (NAICOM) has said it is yet to receive a court order, restraining it from enforcing the October 1, 2018, deadline for the recapitalisation of the sector, under the Tier-Based Minimum Solvency Capital (TBMSC).
Industry in panic mode as NAICOM takes ‘unilateral decision’ on TBMSC
The sudden change in the transition timetable of the Tier-Based Minimum Solvency Capital (TBMSC) regime to October 1, 2018, by the National Insurance Commission (NAICOM) has unsettled insurance sector players, as they lament the lack of consultations before the decision. NAICOM had earlier put the deadline for the implementation of this exercise at January 1,…