In a bid to ensure that insurance business and policyholders are protected during the COVID-19 Movement Restriction, the National Insurance Commission (NAICOM) on Wednesday rolled out regulatory forbearance for the industry. This is contained in a circular to insurance operators with referenced numbers, NO: NAICOM/DPR/CIR/29/2020, 01 April 2020 signed by the Director Policy and Regulation, […]
The Managing Director/CEO, Universal Insurance Plc, Benedict Ujoatuonu has advanced several reasons as to why the insurance sector’s contribution to national Gross Domestic Product (GDP) in Nigeria is abysmally low. Insurance sector is said to contribute just a meagre 5 per cent to Nigeria’s national GDP which is seen as one of the worst contributors […]
The Insurance sector life annuity fund portfolio stood at about N323 billion at the end of the second quarter of 2019. The information was made available by Mr Rasaq Salami, Head, Commissioner for Insurance Directorate of the National Insurance Commission (NAICOM) in a statement on Saturday in Abuja. Salami said that the figure represented a […]
Increasing interest in insurance stocks continue to pervade insurance stocks seen as generating value for investors, as depicted in equities transaction for the week ended Friday, 18th August, 2017. The equities market report published by the Nigerian Stock Exchange (NSE) for the week, showed that out of the total insurance sector’s turnover of 31,188,819 million […]