Coronation Insurance plans fast-tracking claims arising from protest looting, vandalism

October 28, 2020

Charles Abuede   Coronation Insurance Plc has unveiled its claims response platform put in place to ease the challenges experienced by customers and fast-track its response to claims arising from losses encountered by customers from vandalisms and looting activities across the country. Coronation Insurance, formerly Wapic Insurance, in a statement signed by Mary Agha, the […]

Anambra moves for interstate travel insurance

October 7, 2020

Anambra State

Anambra State has instituted an insurance scheme to cover passengers who travel from the state to other states of the federation with a view to ensuring that they are covered against unforeseen road accidents that might happen to them. Afam Mbanefo, the commissioner for transport, said recently in Awka, the state capital, that the launch […]

Lasaco Assurance appoints former commissioner as non-executive director

October 5, 2020

Maria Olateju Phillips, a former commissioner in Lagos State, has been appointed to the board of directors of LASACO Assurance Plc as a non-executive director. Her appointed, announced by the company followed the resignation on September 8 this year of Aderinola Disu, the former chairman of the board of directors. Her appointment was made along […]

Performing within the one percent space

Ekerete Ola Gam-IkonSeptember 10, 2020

Many business analysts have continued to see the dim light of the insurance industry in Nigeria and often wonder why it is underperforming when compared to other sectors or climes, especially looking at the contribution to our Gross Domestic Product (GDP). While it may be easy to allude to the negative impact of the COVID-19 […]

Reps probe NNPC’s $100m insurance policy on non-existing assets

Aderemi OjekunleAugust 18, 2020

BY: Moses olajuwon Obajemu The House of Representatives is worried over a $100 million insurance policy taken by the Nigerian National Petroleum Corporation (NNPC) and Joint Ventures (JVs) for non-existing assets overseas. Darlington Nwokocha, chairman, house committee on insurance & actuarial matters, expressed sadness over the matter when the committee flagged off and presided over […]

NAICOM talks tough, liquidates two insurance firms

January 7, 2020

NAICOM talks tough, liquidates two insurance firms

Insurance sector operators will face stricter supervision in 2020, the National Insurance Commission (NAICOM) has said, announcing its liquidation of two firms. The regulator also said it would enhance its supervisory roles through the strict implementation of rules, the introduction of new reforms and initiatives that are in line with international best practice. Sunday Thomas, […]

NAICOM approves two new takaful insurance firms for take off

Adesola AfolabiSeptember 9, 2019

The National Insurance Commission (NAICOM) has granted approval in principle (AIP) to two new firms. A statement issued by Rasaaq Salami, head, corporate affairs of the Commission, revealed the names of the firms as Cornerstone Takaful Insurance Company Ltd and Salam Takaful Insurance Company Ltd. The companies will operate as composite Takaful operators to transact […]