INSURANCE

AIICO Insurance Plc has reported a Gross Written Premium (GWP) of ₦31.9 billion as at June 2020, which signifies a 26 per cent increase, compared to N25.4 billion recorded in comparative period of 2019. A statement made available by the firm in Lagos on Monday said that the growth was...

The National Insurance Commission (NAICOM) on Friday confirmed the receipt of applications for licences of four companies to transact insurance business in Nigeria. The companies are; Heir Insurance Ltd. (General); Stanbic IBTC Insurance Ltd; Heirs Life Assurance Ltd.; and Enterprise Life Assurance Company Nigeria Ltd.. The commission made the confirmation...

The newly inaugurated President of the Chartered Insurance Institute of Nigeria (CIIN) Mr Muftau Oyegunle, on Tuesday said that he would focus on a six-point agenda to meet the demands of members. Oyegunle said this at his investiture as the 50th President of the Institute in Lagos, held virtually. He...

The Chartered Insurance Institute of Nigeria (CIIN) on Friday said it would inaugurate Mr Muftau Oyegunle as its 50th President and Chairman of the Council, virtually on July 21. In a statement made available to the News Agency of Nigeria (NAN) in Lagos, the institute said that Oyegunle would be...

Nigerian Insurers Association (NIA) says the volume of business written by the insurance sector rose by 15.55 per cent to N490 billion in 2019. Mr Tope Smart, Outgoing Chairman of the association, said at the association’ s virtual 49th Annual General Meeting (AGM) on Thursday that the figure was a...

Mutual Benefits Assurance Plc and its subsidiary, Mutual Benefits Life Assurance, paid combined claims amounting to N21billion in 2019, a statement said on Monday. The statement by the Insurance firm made available to the News Agency of Nigeria (NAN) in Lagos revealed that the company’s General Business paid N3.2 billion,...

National Insurance Commision (NAICOM) has  directed insurance and re-insurance companies to comply with approved minimum paid-up capital not later than Sept. 30, 2021 as against recapitalisation deadline of Dec.  31, 2020. Mr Pius Agboola, NAICOM Director, Policy and Regulation, on behalf of the Commissioner for Insurance in a circular dated...

AIICO Insurance Plc on Thursday announced a Gross Written Premiums of ₦17.6 billion for first quarter of 2020, indicating 23 per cent increase from N14.3 billion recorded in the same period of 2019. The Company’s spokesman, Mr Ademola Adenekan, said in statement that the growth was driven by the group’s...

Zenith General Insurance Limited has released its full-year financial statements for the year ended 31 December 2019 with profit before tax rising by 16 per cent from N3.16 billion to N3.67 billion while profit after tax rose by 10 per cent up from N2.79 billion to N3.06 billion. The company...

AIICO Insurance Plc., has announced gross written premiums for the year ended Dec. 31, 2019, which rose by 33 per cent to N50.1 billion from N37.7 billion in 2018. The firm, in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos, announced the performance...