INSURANCE

Insurance brokers, under the auspices of Nigerian Council of Registered Insurance Brokers (NCRIB), have charged insurance companies in the country to be innovative in products design and delivery. Speaking on behalf of the brokers, President, NCRIB, Mr. Kayode Okunoren, said, this entails that products are going to be tailored according...

The Managing Director/Chief Executive Officer, FBNInsurance Limited, Mr Val Ojumah, has identified business opportunities for insurance in the non-oil sector in the light of current economic downturn largely brought about by crashing oil prices. Speaking at the opening session of the professional forum of the Chartered Insurance Institute of Nigeria...

The Director-General Nigerian Insurers Association (NIA) Mr. Sunday Thomas has urged the public to secure their belongings this period of recession with insurance which remains the best tool to mitigate risks. Thomas, while speaking at the 2000 man match awareness campaign organised by the Association of Registered Insurance Agents of...

The National Insurance Commission (NAICOM) is set to create alternative distribution channels which insurance companies can explore to sell their products and services across the country. The Commissioner for Insurance, Alhaji Mohammed Kari, who stated this at the 2016 Insurance Professional Forum in Abeokuta, Ogun State, added that the commission...

Industrial And General Insurance (IGI) Plc has paid N1.2 billion as claims to its policyholders between January and August, 2016. A statement from the firm and made available to Business247 Online News at the weekend said, claims paid out under general business amounted to N273.5 million, including N107.2 million which...

Leadway Assurance Company Limited has partnered with Total Nigeria Plc to provide Third Party Motor Insurance to motorists across the country. Speaking at the signing of the partnership agreement in Maryland, Lagos today, the Managing Director/CEO, Leadway Assurance Company Limited, Mr. Oye Hassan-Odukale, said the partnership was to deepen insurance...

Following a directive in the 2009 Corporate Governance Code of the National Insurance Commission (NAICOM) mandating executive directors and non-executive directors, who have stayed over a stipulated period of years, precisely, nine years on the board of insurance firms, to exit the companies, this has led to mass exit of...

Great Nigeria Insurance (GNI) Plc has paid a sum of N700 million as claims between January and June 2016, as part of its commitment to prompt claims settlement. A statement from the firm and made available to Business 247 Online at the weekend said General Business accounted for over 19...

Insurance professionals across the country are planning to harness insurance opportunities in the economic diversification of the country from oil to other lucrative sectors. The diversification plan, according to operators, will create new business window for underwriting firms to explore and make more profit, adding that this would form the...

Royal Exchange Plc said, over the weekend, it generated a Gross Written Premium of N8.43 billion from its business activities in the first half of the 2016 financial year, representing an increase of 34 per cent over the figure of 2015, which stood at N6.28 billion. A statement from the...