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. […]

Central bank makes insurance cover mandatory for projects funded under commercial agricultural lending scheme

In other to mitigate the risk faced by participating financial institutions in financing agricultural sector, Nigeria’s central bank has revised and amended guidelines of the commercial agricultural credit scheme (CACS) to include compulsory insurance cover for all agricultural facilities and projects under the scheme. In a circular to all banks dated July 15 and signed […]

Kingibe, influential Nigerian politician, to chair board of Regency Alliance Insurance as profit rises 40% to N411.7m

Insurance firm, Regency Alliance Insurance Plc has appointed Nigeria’s influential politician, Ambassador Baba Gana Kingibe as the chairman of its board of directors. This decision was made at the board meeting held July 27, 2017. Kingibe, 72, had earlier served as acting chairman of the board. A former Secretary to the Nigerian government who has […]

Insurance expert, Funmi Babington assumes CIIN leadership

Funmi Babington-Ashaye, the Chief Executive Officer (CEO) of Risk Analyst Insurance Brokers Ltd, has been elected to assume the leadership of the Chartered Insurance Institute of Nigeria (CIIN). Seun Banwo, the Corporate Affairs Manager of CIIN, told the News Agency of Nigeria (NAN) in Lagos, Thursday, that Babington-Ashaye would officially assume the seat July 25 […]

Nigeria insurers see premium income rise 22% to N380bn in 2016

Nigerian insurers saw their total gross premium income rise 22.2 percent to N380 billion in 2016, despite a wave of insurgency in the north east of the country, fall in global oil prices and a generally challenging business environment, the umbrella body of insurers, the Nigerian Insurance Association (NIA), said Thursday in Lagos. A combined […]