Insurance

Manager at AIICO Insurance Plc, Mayowa Korode said the adoption of the International Financial Reporting Standards (IFRS 17) in the insurance industry would not only bring sanity to the sector but would also enhance the sector's contribution to the economy. He said during a training organised for insurance/ pension journalists in Lagos. IFRS 17 is…

Insurance experts have called on underwriting firms to take advantage of technological innovation to drive product penetration for increased contributions to the economy. The need for deeper technology adoption in product management was one of the issues raised by experts, who gathered at the second edition of ‘Insurance Meets Tech’ (IMT) with the theme: “Unlocking…

KBL Insurance Limited has secured the approval of the National Insurance Commission (NAICOM) to underwrite agricultural risks in the country.

Determined to increase shareholders’ confidence in its business, Universal Insurance has delivered an outstanding performance for the financial year ending in December 2022, with profit for the year appreciating by 341 per cent, from N161,147 million in 2021 to N667,814 million.

In a world where unpredictability is constant, having a safety net to fall back on is quite important. As a pioneering peer-to-peer technology company, P2Vest continues to provide safe financial solutions. Not only has the fintech transformed the lending and borrowing landscape but it has also taken a revolutionary step into the realm of insurance.…

Stakeholders in the finance services sector have called on the Federal Government to put in place, enabling policies to grow insurance and pension. The experts who converged at the eighth yearly national conference of the Nigerian Association of Insurance and Pension Editors (NAIPE), held in Lagos, urged the current administration to create policies that would…

An underwriting firm, KBL Insurance Limited, has assured insurance policyholders of prompt claim settlement

The Nigerian Union of Pensioners Contributory Pension Scheme (NUPCPS) has called on the federal government to improve the social welfare of pensioners and workers to support economic growth.

•Share value stagnant for five years, experts demand better regulation The poor patronage of insurance products, which has resulted in poor corporate performance of the sector and stagnation in their share prices in the past five years, is unsettling the market. Indeed, the sector has witnessed a prolonged stagnation as the economy suffered a harsh…

The National Pension Commission (PenCom) has given December 31, 2023 as a deadline for all employers to comply with law regarding the remittance of employees’ pension contributions to the retirement savings accounts (RSAs) to avoid sanctions.

The National Insurance Commission (NAICOM) has urged underwriting firms to increase their claims reserve accounts so that they would have enough funds to settle huge claim liabilities.

Noor Takaful, the leading Islamic Insurance firm in Nigeria, has disbursed a total surplus of N208 Million to policyholders who have no claims record as part of efforts aimed at promoting ethical insurance in the country. The surplus allocation was announced as part of a two-day African Takaful and Non-interest Finance conference held in Lagos.…