NAICOM approves two new takaful insurance firms for take off

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 […]

AIICO announces Babatunde Fajemirokun as new MD/CEO

Babatunde Fajemirokun is the new managing director and chief executive officer of AIICO Insurance Plc. His appointment was announced by the company through a regulatory filing at the Nigerian Stock Exchange, Wednesday. According to the statement, Fajemirokun’s appointment is effective from Today (Wednesday), August 14, 2019. Read Also: AIICO to underwrite agriculture risks following NAICOM […]

Investment firm, Eaton, increases stake in NEM Insurance, eyes board position

NEM Insurance

Eaton Acquisitions Limited, an investment company has increased its stake in NEM Insurance to 9 percent, days after it announced the acquisition of 4 percent of the insurance company, business a.m. has learnt. Olaleye Adeyinka, Eaton Acquisitions’ managing director while expressing confidence in the ability of current NEM’s leadership, said his company is desirous of […]

Staco Insurance appoints Jackson, Etti & Edu company secretary

Staco Insurance

Staco Insurance Plc. Tuesday announced the appointment of Messrs Jackson, Etti & Edu as the company’s secretary following the resignation of Taiwo Ogunbanjo, who had erstwhile occupied the same position. The appointment which took effect immediately after the conclusion of a board of directors meeting held in Lagos on 30th of July 2018, comes on […]

NEM Insurance grows PBT 20.7% in H1 2018

NEM Insurance

NEM Insurance Plc. has announced a 20.7 growth in its profit before tax (PBT) for the financial half-year ended 30 June 2018. PBT of the insurance company grew from N1.4 billion in June 2017 to N1.7 billion in June 2018 on account of a 12 percent increase in gross premium written and a 62 percent […]

African Alliance Insurance settles N8bn claims in 2017

African Alliance Insurance Plc has announced that it paid N8.69 billion in claims settlement in 2017, a 32.5 percent increase from the N6.56 billion paid in 2016. The company also recorded a gross premium income of N6.29billion in 2017. The figures were released by the Funmi Omo, Managing Director, in reaction to a recently published […]

Zurich Insurance plans $5bn allocation to impact investments

Zurich Insurance Group AG plans to more than double its allocation to impact investments, earmarking $5 billion for a broader range of assets after devoting $2 billion to green bonds in recent years. While it didn’t specify a period, Zurich plans to buy bonds that finance social projects and the sustainable use of resources, as […]