INSURANCE

New Chairman of Nigerian Insurers Association (NIA), Mr. Eddie Efekoha, has promised to embark on massive insurance awareness campaign to aid insurance penetration and acceptance in the country. Efekoha, who made the pledge at his investiture as the 22nd Chairman of the association in Lagos, noted that it was imperative...

There are strong indications that insurance companies in the country are set to lose billions of Naira as the National Insurance Commission (NAICOM) has suspended financial institutions, telecommunication companies and airlines from selling insurance products, unless these distribution agencies are licensed by the commission to do so. As it stands,...

Shareholders of underwriting firms in the country have charged underwriters to adopt a successive plan in their respective companies, such that most directors don’t have to retire at the same time on the board. This development, they said, could negatively affect the fortune of the concerned insurers, stating that a...

With the Risk Based Supervision (RBS) expected to commence in insurance industry, Royal Exchange Plc said it is planning to recapitalise in a bid to have the required capital structure for bigger ticket risks. Group Managing Director (GMD) of the company, Mr. Auwalu Muktari, who stated this in Lagos, over...

Continental Reinsurance Plc has reported a Profit Before Tax (PBT) of N2.92billion in its 2015 financial year, up from N1.59 billion the previous year, an increase of 84%. A statement from the firm and made available to Business247 News Online added that its gross premium income was N19.7 billion, up...

ABDUL-KHALIQ OLALEKAN In spite of the turbulent operating environment in the country, Sovereign Trust Insurance Plc (STI), Plc was able to generate N7.13 billion gross premium from the insurance businesses it undertook in 2015 financial year. The underwriting firm also recorded a 97 per cent growth in its Profit After...

Great Nigeria Insurance (GNI) Plc has called on Nigerians to adopt the culture of insurance, especially, during the current financial crisis. In a statement made available to Business247 Online News, the Chief Technical Officer of the company, Mr. Folusho Alliyu, stated this, following the various incessant cases of road accidents...

FBNInsurance Limited, in conjunction with the humanitarian organization, Rotary Club of Omole Golden, has carried out a free breast and cervical cancer screening/vaccination exercise for girls and women. In a statement made available to Business247 Online News, the exercise which held at the premises of Ifako Ijaye Health Centre, Ogba,...

As the economic crunch continues to bite harder in the country, most insured Nigerians have resolved to be paying their premiums on monthly, quarterly and bi-annually, at least, until the economic position improves. Business 247 Online News findings show that insurance premiums of underwriting firms fell by 30 per cent...

Following the financial crisis that is ravaging the economy, Nigerians are now sacrificing their insurance budget to meet more immediate needs, a development experts said could mean sitting on a gun powder. ABDUL-KHALIQ OLALEKAN writes. Worldwide, insurance has been seen as the last hope of the common man. This is...