LeapFrog, Prudential associate company, invests $180m in Ghanaian insurer

LeapFrog Investments, the emerging markets impact investment firm whose tagline is “profit with purpose”, has made its largest investment to date in a Ghanaian insurer. The $180m cheque was the largest ever written by LeapFrog, and came from the firm’s $350m Strategic African Investments fund in which global insurance firm Prudential is the primary investor. […]

Central bank makes insurance cover mandatory for projects funded under commercial agricultural lending scheme

In other to mitigate the risk faced by participating financial institutions in financing agricultural sector, Nigeria’s central bank has revised and amended guidelines of the commercial agricultural credit scheme (CACS) to include compulsory insurance cover for all agricultural facilities and projects under the scheme. In a circular to all banks dated July 15 and signed […]

Kingibe, influential Nigerian politician, to chair board of Regency Alliance Insurance as profit rises 40% to N411.7m

Insurance firm, Regency Alliance Insurance Plc has appointed Nigeria’s influential politician, Ambassador Baba Gana Kingibe as the chairman of its board of directors. This decision was made at the board meeting held July 27, 2017. Kingibe, 72, had earlier served as acting chairman of the board. A former Secretary to the Nigerian government who has […]

Wapic Insurance offers Wapic Smart to public for sustainable savings culture

Wapic Insurance offers Wapic Smart to public for sustainable savings culture

Wapic Smart, a new product from rejuvenated insurer, Wapic Insurance Plc, has been launched into the Nigerian market as a savings product to build a sustainable saving culture, according to an explanatory note sent out by the company. The company said the product would help people achieve their financial goals, especially where there is a […]

Insurance expert, Funmi Babington assumes CIIN leadership

Funmi Babington-Ashaye, the Chief Executive Officer (CEO) of Risk Analyst Insurance Brokers Ltd, has been elected to assume the leadership of the Chartered Insurance Institute of Nigeria (CIIN). Seun Banwo, the Corporate Affairs Manager of CIIN, told the News Agency of Nigeria (NAN) in Lagos, Thursday, that Babington-Ashaye would officially assume the seat July 25 […]

Nigeria insurers see premium income rise 22% to N380bn in 2016

Nigerian insurers saw their total gross premium income rise 22.2 percent to N380 billion in 2016, despite a wave of insurgency in the north east of the country, fall in global oil prices and a generally challenging business environment, the umbrella body of insurers, the Nigerian Insurance Association (NIA), said Thursday in Lagos. A combined […]

Egypt’s EFG Hermes targets global insurance acquisitions    

Nigeria may be on the radar of Egypt‘s top investment bank, EFG Hermes, as it begins global insurance acquisitions. Reports have it that it has already targeted a top-notch insurance company in Nigeria, which identity is yet to be revealed. Nigeria’s insurance industry, which hosts 57 insurance and reinsurance firms, and 350 insurance broking outfits, […]