NEM Insurance grows PBT 20.7% in H1 2018
Afolabi Oluwaseun
July 24, 2018
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 […]
Universal Insurance cites late NAICOM’s approval for continued delay in release of FY2017 results
Afolabi OluwaseunJuly 12, 2018
Universal Insurance Plc., has said late approval of its accounts by the regulatory authorities including the National Insurance Commission (NAICOM) is the main reason for the continued delay in the release of its full year 2017 results. The insurance company disclosed this Thursday in a notice to stakeholders and the general public, saying that it […]
African Alliance Insurance settles N8bn claims in 2017
Businessam StaffApril 18, 2018
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 […]
Nigeria AIICO Insurance fails to meet NSE deadline on audited financial statement
Businessam StaffApril 6, 2018
Aiico Insurance, a leading insurance company in Nigeria, announced Thursday that it would not be meeting the deadline set by the Nigerian Stock Exchange to file its audited financial statement for FY2017 due to limited information available to them and some delays from conclusions. The company, in a statement released on the Nigerian Stock Exchange […]
Zurich Insurance plans $5bn allocation to impact investments
Businessam StaffNovember 23, 2017
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 […]
Insurers ache for qualified inspectors after U.S. hurricanes damage
Businessam StaffSeptember 11, 2017
Insurers are scrambling to find inspectors in Texas and Florida after fierce hurricanes battered the states one after the other, causing tens of billions of dollars’ worth of property damage in less than two weeks. Although insurers maintain some number of inspectors, known as claims adjusters, across the U.S. year-round, they must redeploy staff from […]
High cost outlay, poor investment deny Linkage Assurance shareholders of dividend
Obodo EjiroJune 22, 2017
Shareholders of Linkage Assurance Plc will have to wait a little longer to earn dividend from their investment. This is as a result of the company’s high cost of doing business and lacklustre earnings from investment, which combined to whittle down profitability. This is despite the company announcing a 1.9 percent increase in gross profit […]