Insurers to decide business size, submit operations profile to NAICOM this week

NAICOM

The board of directors of insurance companies in the country would be taking critical decisions this week on business size as they submit operational profiles to industry regulator, the National Insurance Commission (NAICOM), on their solvency capital latest Friday, September 14. This is coming on the heels of the tier-based minimum solvency capital (TBMSC) policy […]

Investment firm 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 […]

AIICO to underwrite agriculture risks following NAICOM approval

AIICO

AIICO has said it is set to protect Nigerian farmers against risk, following an approval it has received from regulator, the National Insurance Commission (NAICOM) to underwrite agricultural insurance. The approval given to AIICO for underwriting agriculture insurance is precedent on the insurance firm’s competitive edge on understanding the exact needs of farmers, Edwin Igbiti, […]

ATI 14 African member governments, shareholders to get $2.5 mn in dividends

Global Lenders

The African Trade Insurance Agency (ATI) has earmarked an initial $2.5 million in payments to its shareholders which include 14 African member governments. The approved dividend is the first ever payment made to shareholders, the agency declared at its recently held general assembly in Abidjan, where the company also announced its record-breaking 2017 financial results […]

LeapFrog, Prudential associate company, invests $180m in Ghanaian insurer

LeapFrog Investments, the emerging markets impact investment firm whose tagline is “profit with purpose”, has made its largest investment to date in a Ghanaian insurer. The $180m cheque was the largest ever written by LeapFrog, and came from the firm’s $350m Strategic African Investments fund in which global insurance firm Prudential is the primary investor. […]