NAICOM approves Nigeria’s first full fledged micro insurance operator

The National Insurance Commission (NAICOM) has granted approval to GOXI Microinsuranoe Company Limited  to operate as a state composite micro insurance company. The approval gives the company authority to transact life and general micro insurance business in Lagos State only. It also makes the company, Nigeria’s first full fledged stand alone micro insurance operator, according […]

Nigerian insurers attract stable rating despite rising operating costs, claims expense

Confidence in the underwriting capacity of insurance companies operating in Nigeria has started attracting a boost from credit ratings agencies, affirming clients of the insurance firm’s stability, in the wake of stringent regulatory stance and anticipated capital enhancements. Although the industry continues to be plagued with pressure points such as rising claims expenses, high underwriting […]

Capital flow: Nigeria to attract $5.6bn portfolio investment in 2019

Capital inflow into the country from portfolio investors is projected at $5.6 billion (about N2 trillion) in 2019 says Emerging Africa Capital (EAC) group in its maiden Economic and Investment Outlook Report 2019, titled “Cautious Optimism”. According to the National Bureau of Statistics (NBS), portfolio investment which accounted for over 70 percent of total capital […]

India to inject $6.8bn into state lenders to boost loans

India will inject 482 billion rupees ($6.8 billion) into government-controlled lenders to help them meet tighter regulatory requirements and to boost credit growth. The fund infusion will ensure that capital ratios for all state-run lenders are above the regulatory requirement and will help Allahabad Bank and Corporation Bank exit a so-called Prompt Corrective Action plan, […]