NDIC explores ways to strengthen depositors’ insurance protections

Cynthia Ezekwe The Nigerian Deposit Insurance Corporation (NDIC) has announced plans to increase the maximum deposit insurance coverage as part of efforts to protect depositors’ funds and maintain the stability of the banking sector in the face of the evolving economic environment. The move is aimed at providing additional protection for depositors, while also supporting […]

Motor Insurance market experiences strong growth in 2022

 Premiums by top 10 motor insurers rise 15.3% Cynthia Ezekwe Analysts are seeing a surge in motor insurance premiums following the recent increase in rates by the National Insurance Commission (NAICOM), and the growth of the top 10 motor insurers in 2022. The 2022 financial statements of the top 10 motor insurers in Nigeria, compiled […]

AIICO partners ETAP to deepen car insurance penetration in Nigeria

By Cynthia Ezekwe. AIICO Insurance Plc, a leading insurance, pensions management, and asset management firm has partnered with ETAP, a renowned technology company specialising in the development of innovative solutions for the vehicle insurance sector, to drive increased penetration of car insurance in Nigeria. Despite being Africa’s largest economy and one of the biggest automotive […]

Pension investment in FG Securities jump 20.6% to hit N10.9trn in H1’23

PenCom harps CPS securing future of Nigerian employees

By Cynthia Ezekwe.    Pension investments in the federal government securities by Pension Fund Administrators (PFAs),rose to N10.858 trillion in the first half of the year,representing a 20.6 per cent  Year-on-Year increase from N9.007 trillion in the corresponding period of 2022 (HI ’22). This is according to a recent data presented by the National Pension […]

Prestige Assurance grows GPW by 34% to N12.4bn

By Onome Amuge. Prestige Assurance Plc has recorded 34 per cent growth in Gross Premium Written (GPW) to N12.4 billion for 2022 financial year from N9.27 billion recorded in 2021. The company also delivered a profit before tax of N143 million, while its  total assets appreciated to N22.209 billion as against N21.579 billion in the […]