PENSION

By ABDUL OLALEKAN Following the recent sale of International Energy Insurance (IEI) Ghana to Heritage Bank, IEI Plc has said, such development will not affect its operation in Nigeria. IEI is a Nigeria insurance firm, with special interest in underwriting of oil and gas businesses. When it was announced a...

By ABDUL OLALEKAN Following the increasing poverty level in the country, leaving most people in the low income bracket, Executive Director of Leadway Assurance Plc, Ms. Adetola Adegbayi said, of the 80 million potential insurance customers, an estimation of about 55 million to 60 million are on low income bracket....

By ABDUL OLALEKAN 275 retirees of the Lagos State civil service have received N1.002 billion as their pension entitlement for the month of May, 2016. To this end, the benefiting retirees were recently presented their Retirement Benefit Bond Certificates by the Lagos State Pension Commission (LASPEC) in Alausa, Ikeja, Lagos...

By ABDUL OLALEKAN Two years after the 2014 Pension Reforms Act was passed into law, the federal and state governments throughout the federation are yet to abide by some of the provisions in the new pension guideline, including the 18 per cent minimum pension contributions. Business247 investigation shows that all...

  By ABDUL OLALEKAN Consolidated Hallmark Insurance Plc has declared three kobo par share totalling N180 million as to its shareholders across the federation. Earlier, the company had paid an interim dividend of N120 million from the half year ended 2015 results. Disclosing this at the 21st Annual General Meeting,...

By ABDUL OLALEKAN 38 insurance firms in the country have so far submitted their 2015 financial statements to the National Insurance Commission (NAICOM) for approval. Of the 38 companies that had submitted, the regulatory body has approved accounts of 31 of them and they can now go ahead to hold...

Insurance and pension experts are to discuss on how to eradicate old age poverty through pension scheme and insurance products and services at the 2015 Businesstoday Online Insurance and Pension Industry Awards scheduled to hold on next week in Lagos. The Director General of National Pension Commission (PenCom) Mrs. Chinelo...

South Africa has continued to spread its  tentacles on the Nigerian economy  landscape   as one of the country’s leading life insurers, MMI Holdings, today  announced  its full  acquisition  of United Metropolitan Nigeria Life Insurance after purchasing the 50 per cent stake which  it did not already own. The Chief Executive...

Four African countries, Nigeria, Ghana, Tanzania, Zambia and Cote d’Ivoire will grow Africa’s insurance market by 4.3 per cent in 2016 and 5.1 per cent in 2017. According to the International Monetary Fund (IMF) forecast, the fast growth in insurance patronage in these countries was due to the expanded market...

By ABDUL OLALEKAN Following the low public acceptance of insurance, about 58 underwriting companies across the country have agreed to generate N1 billion to use spend in order to increase insurance acceptance among Nigerians, Business247 has learnt. Investigation shows that the low patronage of the insurance sector is seriously affecting...