Insurance

Rosabon Financial Services to Launch Wealth Management App with Diverse Investment Opportunities

Ihesiulo Grace 6 May 2023 0

Get ready for the next big thing in the world of investment! Rosabon Financial Services is thrilled to announce the upcoming launch of its highly anticipated online investment platform. Designed to provide individuals and businesses with a flexible range of investment options, the new platform

Business Insurance

Nigeria’s Life Annuity Fund portfolio hits N323bn in Q2

Ihesiulo Grace 9 October 2019 0

The National Insurance Commission (NAICOM) has disclosed that the insurance industry life annuity fund portfolio in Nigeria grew by 17.46 per cent to stand at N322.91 billion at the end of the second quarter (Q2) of 2019, against N274.918 billion stood at the end of the fourth quarter of (Q4) of 2018. Within the same […]

Banking Insurance News

NAICOM grants operational approval to two new insurance firms

Ihesiulo Grace 10 September 2019 0

Motolani Oseni The National Insurance Commission (NAICOM) has granted approval in principle (AIP) to Cornerstone Takaful Insurance Company Ltd and Salam Takaful Insurance Company Ltd. This was contained in a statement issued by the Head, Corporate Affairs of the Commission, Rasaaq Salami, stating that the companies will operate as composite Takaful operators to transact

Banking Business Insurance

Stanbic IBTC promotes healthy living, wellness among employees

Ihesiulo Grace 16 August 2019 0

Benjamin Omoike  As part of its contribution towards promoting wellness and healthy living amongst its employees, Stanbic IBTC, a member of the Standard Bank Group, recently held the 2019 edition of the Stanbic IBTC Employee Health and Wellness week. The Health and Wellness Week marked the culmination of activities of Stanbic IBTC’s annual Health Week […]

Business Insurance News

Consolidated Insurance sets to achieve N10bn recapitalisation

Ihesiulo Grace 16 August 2019 0

Temitope Adebayo The Consolidated Hallmark Insurance has revealed its laid down plans on how it will attain the new recapitalization directive NAICOM gave earlier. In exercise of its statutory powers and regulatory functions, NAICOM had on May 20, announced an increase in the minimum capital for insurance companies in Nigeria. The review is to take […]

Banking Business Insurance

FBN Insurance reports N902m paid claims in 2018

Ihesiulo Grace 23 July 2019 0

Micheal Ajayi FBN General Insurance Limited, a subsidiary of FBNInsurance Limited has reported a paid sum of N902 million as claims for year ended 2018. The insurance company recorded a pay rise of N41 million as against N861 million paid in the previous year 2017. Speaking at the company’s Annual General Meeting (AGM), held in […]

Brands and Marketing Business Capital Market Capital Market Insurance

Sunu Assurances boss lauds NAICOM capital base requirement for insurance sector

Ihesiulo Grace 2 July 2019 0

Motolani Oseni The Managing Director, Sunu Assurances Nigeria Plc, Mr Samuel Ogbodu, has commended the National Insurance Commission (NAICOM) for increasing the capital base of various categories of players in the industry. Ogbodu said that the proposal would not only help to consolidate the sector with the provision of more buoyant opportunities for large ticket […]

Insurance

AXA Mansard Insurance notifies NSE of board changes

Ihesiulo Grace 4 March 2018 0

Axa Mansard Insurance Plc has notified the regulators, including the Nigerian Stock Exchange (NSE) of changes in the company’s board. In a publication captioned: “Notification To The Nigerian Stock Exchange On The Changes To The Board Of Axa Mansard Insurance Plc”, signed by the Company Secretary, Mrs Omowunmi Mabel Adewusi; and released by the Exchange […]

Insurance

Western Lotto raises stakes with Powerball Max

Ihesiulo Grace 15 January 2018 0

Gaming and entertainment firm Western Lotto Nigeria Limited has raised the stakes in the gaming business in Nigeria with the introduction of Powerball Max, one of the latest games in the franchise. According to the company, Powerball Max, a US lottery, offers winnings of up to N14b ($26,000,000.00) and Western Lotto Nigeria Limited is the […]

Insurance

Why Swiss Pharma Nigeria shut down – MD

Ihesiulo Grace 15 January 2018 0

The Managing Director of Swiss Pharma Nigeria Limited, Mr. Gaby El Khoury has explained that the recent closure of the pharmaceutical company was carried out to safeguard the company’s properties and prevent any form of hostility by some of its staff. In a statement at the weekend, Khoury explained that upon the acquisition of Swiss […]

Insurance

Two new digital insurance cos seen starting in 2018

Ihesiulo Grace 15 January 2018 0

A reduction in the capital required for new insurance companies will make it easier for new entrants to the market. Two digital insurance companies are set to receive approval and to start business in the first half of 2018. Sources inform “Globes” that these are two separate groups each led by a former CEO of […]

Insurance

A.M. Best downgrades credit ratings of Jordan Insurance

Ihesiulo Grace 15 January 2018 0

A.M. Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” from “bbb+” of Jordan The outlook of the Long-Term ICR has been revised to stable from negative, while the outlook of the FSR remains stable. The Credit Rating (rating) downgrades […]

Business Features Insurance

Deepening Nigeria’s Insurance Penetration for Economic Growth

Ihesiulo Grace 2 January 2018 0

The discussion surrounding deepening Nigeria’s insurance industry has been ongoing since the reforms in 1997. However, a look into the financial sub-sector, listed on Nigerian Stock Exchange (NSE), show that investors still wait to get meaningful returns on their investment in insurance stocks. Diverse challenges persist and show no signs of abating unless drastic actions

Insurance

Wapic Insurance shares remain investors’ toast

Ihesiulo Grace 4 December 2017 0

Earning opportunities and prospects of growth, sound management among other driving forces could be attributed to why investors are taking and consolidating position in the firm. Wapic Insurance for the week ended 30th November, 2017, pulled a total turnover of 1,397,903 billion shares worth N693, 951,731.00million, which was transacted by investors in 75 deals, closing

Insurance

Law Union, Wapic sustain investors’ trust with liquidity

Ihesiulo Grace 4 December 2017 0

The Law Union and Rock Insurance and Wapic Insurance, during the week ended November 30, demonstrated reflection of investors’ sustained confidence with remarkable growth in equity pricing and hinge turnover. The two companies, part of insurance sector key drivers were the investors’ toast in the sector during the week, as Law union ranked 3rd among […]

Insurance

Wapic: Turnover lifts week’s volume by 657.30m shares

Ihesiulo Grace 27 November 2017 0

For the week ended 24th November 2017, Wapic Insurance emerged the most traded insurance stock, pulling a total of 657,285,297, million shares, reflecting about 97 per cent of the total turnover by the sector for the week. Wapic, which traded at N0.50 per share, in 135 deals, recorded a turnover of 657,285,297 million shares valued […]

Insurance

2018 budget to lift insurance -Orimolade

Ihesiulo Grace 27 November 2017 0

Law Union & Rock Insurance Plc, Managing Director, Mr Jide Orimolade, has expressed confidence that the N8.612 trillion national budget would support Insurance Industry growth. Orimolade, disclosed recently in Lagos that the budget for 2018, if cautiously executed would enhance growth of Nigeria’s insurance industry. “With improved revenue, decrease in domestic

Insurance

Linkage, NEM, Custodian lead week’s top gainers’ list

Ihesiulo Grace 27 November 2017 0

Three insurance companies returned value to their shareholders in terms of equity price appreciation, as the sector accounted for 30 per cent of the top 10 gainers companies for the week. While Dangote Sugar led the top 10 gainers for the week with 20.31 per cent or N2.91 increase to close trading at N17.24 per […]

Insurance

LASACO urges customers to invest retirement benefits

Ihesiulo Grace 26 November 2017 0

Following its resumption of underwriting of annuity business after short break, LASACO Assurance has urged the insuring public to invest their retirement benefits with it from where monthly stream of income can be generated and paid to them for a fixed period. LASACO re-commenced the annuity businesses in collaboration with its appointed experts, First Pension […]

Insurance

Insurance Brokers go retail for industry growth

Ihesiulo Grace 13 November 2017 0

Nigerian insurance industry has reaffirmed its commitment to embrace retail insurance business to enhance insurance penetration and value addition to members. The President, NCRIB, Shola Tinubu, declared this at the maiden press conference in Lagos, saying a 10-year agenda has been set out for this purpose. The Council said it is determined to continually invent […]