Climate insurance scheme takes off, set to help women farmers in Africa, Asia
Shakirat Remilekun
January 19, 2018
A climate insurance scheme aimed at helping four million poor people in Africa and Asia has taken off with the organisers stating that it will rebuild their lives after climate disasters. The insurance programme – covering droughts in Kenya, Malawi, Mali, Zambia and Cambodia, and tropical cyclones in Myanmar – will support mostly women farmers […]
Fifth of older UK workers saving nothing for retirement, research reveals
Businessam StaffDecember 14, 2017
Strained by the rising cost of living, almost a fifth of UK workers in their fifties and sixties are unable to save anything for retirement, new research has revealed. Insurance company Aviva in a report published on Thursday found that a total of 43 per cent of those aged 50 to 59, and 38 per […]
LeapFrog, Prudential associate company, invests $180m in Ghanaian insurer
Businessam StaffAugust 24, 2017
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
Businessam StaffAugust 17, 2017
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 […]
Anglo-South African Old Mutual plans listing of businesses next year in break-up
Businessam StaffAugust 11, 2017
Anglo-South African financial services group Old Mutual is aiming to list two divisions rather than sell them as it pursues a plan to split into four parts by the end of next year, a Reuters deals report monitored by Businessamlive has shown. Last year, Old Mutual said it was breaking up because regulatory change made […]
Kingibe, influential Nigerian politician, to chair board of Regency Alliance Insurance as profit rises 40% to N411.7m
Oluwafemi OgunjobiAugust 2, 2017
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 […]
Wapic Insurance offers Wapic Smart to public for sustainable savings culture
Businessam StaffJuly 25, 2017
Wapic Smart, a new product from rejuvenated insurer, Wapic Insurance Plc, has been launched into the Nigerian market as a savings product to build a sustainable saving culture, according to an explanatory note sent out by the company. The company said the product would help people achieve their financial goals, especially where there is a […]
Insurance expert, Funmi Babington assumes CIIN leadership
Businessam StaffJuly 20, 2017
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 could benefit from new insurance cutting $29bn natural disaster bill for poor countries
Businessam StaffJuly 12, 2017
Nigeria could be in line to benefit from new types of insurance that are seen capable of cutting the costs of natural disasters for poorer countries and reduce the amount of humanitarian aid needed, according to a report commissioned by Britain’s international development ministry. The cost of natural disasters to some of the world’s poorest […]
Nigerian insurers to earn more as motor insurance portal comes live July 1
Businessam StaffJune 30, 2017
The insurance industry in Nigeria is expected to have a reverse in its fortunes with the unveiling of a digital portal on July 1, 2017, which will help underwriters check against adulteration of motor insurance certificates. Nigeria, which has the highest concentration of motor vehicles in Africa, is said to be losing millions of naira […]