INSURANCE

  African Alliance Insurance says it paid claims in excess of N967 million in the first 40 days of the 2021 business year. The firm’s Brand, Media and Communications Manager, Mr Bankole Banjo, said in a statement on Monday in Lagos that the payment was in fulfilment of the insurer’s...

  An insurance company, AIICO Insurance Plc, says it recorded a Gross Premium of N62.0 billion for its financial period ended Dec. 31, 2020. The insurer said this in a statement released on the floor of the Nigerian Stock Exchange NSE) on Wednesday in Lagos. The company said the information...

  The National Insurance Commission (NAICOM) on Monday disbursed an undisclosed amount to the College of Insurance and Financial Management (CIFM) to train 60 professionals as Actuaries in the industry. Dr Yeside Oyetayo, Rector CIFM made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos,...

 The National Pension Commission (PenCom) on Wednesday said it was putting in place an automated process to ensure seamless conduct of the annual verification/enrolment within the first quarter of 2021 . A statement signed by Mr Peter Aghahowa, Head, Corporate Communications Department, PenCom and made available to newsmen in Lagos,...

  wants six months extension   The House of Representatives has directed the National Insurance Commission (NAICOM) to suspend the December 31, 2020 deadline given to Insurance and Reinsurance companies in Nigeria to recapitalize. The directive by NAICOM is to increase the companies’ minimum paid-up capital for six months beginning...

    The Commissioner for Insurance, National Insurance Commission (NAICOM), Mr Sunday Thomas has revealed that four new insurance firms and one reinsurance company have been licensed to operate in the country. The new firms are: Heir Insurance Limited (General); Stanbic IBTC Insurance Limited; Heirs Life Assurance Limited; Enterprise Life...

 The Federal Capital Territory Administration (FCTA) Ministerial Assessment Committee on EndSARS Protest Damages, has advised business community within the territory to always insure their businesses with credible insurance organisations. Chairman of the committee, Alhaji Abbas Idriss, gave the advice when he received submissions from some affected business owners of the...

The National Insurance Commission (NAICOM), has appealed to state governments to domesticate compulsory group life insurance and other insurances in their states. Mr Sunday Thomas, the Commissioner for Insurance of NAICOM, made the appeal on Tuesday when he visited Gov. Kayode Fayemi of Ekiti State. The commissioner in a statement...

 The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) on Tuesday signed a Memorandum of Understanding (MoU) to revise regulation on Retiree Life Annuity and guidelines on Group life Insurance policy. Mr Peter Aghahowa, Head, Corporate Communications Department, PenCom said in a statement that the regulation was for...

The National Insurance Commision (NAICOM) on Tuesday released guidelines for the payment of Minimum Paid-up Share Capital by insurance and re-insurance companies in compliance with the first phase recapitalistion directive deadline of Dec. 31. Mr Pius Agboola, Director, Policy and Regulations, NAICOM, for the Commissioner of Insurance, said that the...