Tag: Insurance

<strong>LNG Insurers Scramble To Retain War Cover  </strong>
December 31, 2022 No Responses

LNG Insurers Scramble To Retain War Cover  

Japan, the world’s top importer of LNG, is working with marine insurers in the country to ensure LNG imports from Russia are not jeopardized in the wake of the latest sanctions against Moscow.  Already, three companies from Japan, Tokio Marine...
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FEC Approves N13b Group Insurance Fee For Police 
December 22, 2022 No Responses

FEC Approves N13b Group Insurance Fee For Police 

The Federal Executive Council (FEC) has approved N13.3 billion for the provision of group life assurance scheme for the Nigerian Police Force (NPF).  The Minister of Police Affairs, Alhaji Maigari Dingyadi, made this known when he addressed State House co...
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Insurance Assets Hit N2.3tri
December 21, 2022 No Responses

Insurance Assets Hit N2.3tri

The National Insurance Commission (NAICOM), on Tuesday disclosed that the insurance industry attained total assets of N2.3 trillion, indicating 9.0 per cent increase, Year-On-Year (YoY) at the end of the third quarter.  This is contained in a bulletin of the....
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Heirs Insurance Firms Record N14.8b Premium In Q3
October 27, 2022 No Responses

Heirs Insurance Firms Record N14.8b Premium In Q3

Heirs Insurance Ltd. (HIL) and Heirs Life Assurance (HLA) have generated a total of N14.8 billion Gross Written Premium (GWP) in the third quarter. Mr Niyi Onifade, Managing Director, Heirs Life Assurance, said this at a press briefing on Wednesday...
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Customers Laud AIICO Insurance’s Annuity Policy 
October 9, 2022 No Responses

Customers Laud AIICO Insurance’s Annuity Policy 

Annuity policyholders of AIICO Insurance Plc, have lauded the company for its excellent and satisfactory services.  In a statement issued on Saturday, the company’s spokesman, Mr Segun Olalandu, explained that the underwriter marked the 2022 Customer Servic...
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Insurance Industry’s Assets Hit N2.3trillion In Q2
October 8, 2022 No Responses

Insurance Industry’s Assets Hit N2.3trillion In Q2

Nigeria’s insurance industry’s total assets grew to about N2.3 trillion in the second quarter of 2022, indicating an increased growth rate of 11.9 per cent over the first quarter.  The National Insurance Commission (NAICOM) made this known on Friday i...
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Elumelu Proposes N50m Capital Base For Insurance Brokers
September 30, 2022 No Responses

Elumelu Proposes N50m Capital Base For Insurance Brokers

Chairman, Heirs Holdings, Tony Elumelu,  on Thursday proposed N50 million as a capital base for insurance broking firms operating in Nigeria.  Elumelu, also founder, Tony Elumelu Foundation, said this at the 60th Anniversary Colloquium of the Nigerian Counc...
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Court Acquits Three AIICO Staff Accused Of N1.5b Fraud
September 29, 2022 No Responses

Court Acquits Three AIICO Staff Accused Of N1.5b Fraud

Justice Oluwatoyin Taiwo of an Ikeja Special Offences Court, on Wednesday acquitted three staff of the American International Insurance Company Limited, (AIICO) charged with fraud of N1.5 billion  The News Agency of Nigeria (NAN) report that Taiwo, in a r...
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AIICO Insurance Declares N45.5b Gross Premium In Six Months 
August 7, 2022 No Responses

AIICO Insurance Declares N45.5b Gross Premium In Six Months 

For the first half of 2022, AIICO Insurance Plc has declared Gross Written Premium (GWP) of N45.5 billion.  The company’s unaudited report showed that the GWP increased by 21.4 per cent compared with the N37.481billion recorded in the corresponding peri...
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NGX Suspends Ardova, Niger Insurance, C&I Leasing, Others
July 2, 2022 No Responses

NGX Suspends Ardova, Niger Insurance, C&I Leasing, Others

The Nigerian Exchange Limited (NGX) has suspended nine companies, effective Friday, 1 July 2022,  having failed to file their Audited Financial Statements for the year ended 31 December 2021. The companies according to a statement from the NGX include Afr...
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Heirs Insurance Sponsors $30,000 Tony Elumelu Storytellers Fund 
July 1, 2022 No Responses

Heirs Insurance Sponsors $30,000 Tony Elumelu Storytellers Fund 

Africa No Filter, a donor collaborative working to transform stereotypical narratives of Africa has launched the Tony Elumelu Storytellers Fund of $30,000 sponsored by Hiers Insurance and Hiers Life Assurance for journalists and artistes.  A statemen...
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FG Tasks NAICOM On Prompt Claims Payment 
May 21, 2022 No Responses

FG Tasks NAICOM On Prompt Claims Payment 

The Federal Government has called on the National Insurance Commission (NAICOM) to put in place measures that will ensure insurance companies meet their obligations to policyholders by paying claims promptly.  Dr Zainab Ahmed, the Minister of Finance, Bud...
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AIICO Partners HACEY Health Initiative , To Tackle Malaria In Vulnerable Communities
May 5, 2022 No Responses

AIICO Partners HACEY Health Initiative , To Tackle Malaria In Vulnerable Communities

To mark the 2022 World Malaria Day, AIICO Insurance Plc recently partnered HACEY Health Initiative.     In a statement on Thursday, Head, Strategic Marketing and Communications, AIICO, Mr Segun Olalandu, explained that the partnership was c...
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Insurance Industry Generates N508b Premium In 2021, Pays N224b Claims
February 9, 2022 No Responses

Insurance Industry Generates N508b Premium In 2021, Pays N224b Claims

The Chairman, Nigerian Insurers Association (NIA), Mr Ganiyu Musa, on Tuesday said the insurance industry generated N508 billion Gross Premium in 2021, out of which N224 billion was paid as claims. Musa, who said this at a news briefing in...
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