Business

Challenges of Takaful and the future of Nigeria’s insurance sector

Ihesiulo Grace 23 December 2019 0

The introduction of Takaful insurance is gradually changing the landscape of the Nigeria insurance sector in a bid to provide a robust platform for financial inclusion. In this analysis, Business Correspondent, PHILIP CLEMENT,looks at the challenges of Takaful insurance in financial inclusion

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

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 […]

Business

Conoil, Capital Oil others face NSE hammer over late results filing

Ihesiulo Grace 9 April 2019

Temitope Adebayo Some oil companies including, Conoil Plc, Capital Oil plc, insurance companies, Microfinance banks, among others risk heavy sanction by the Nigerian Stock Exchange (NSE) for late filing of their financial year, ended December 31, 2018 result and accounts. Other companies expected to face NSE sanction include AIICO Insurance plc, Law Union And Rock […]

Insurance

NAICOM Approves 8 Firms’ 2014 Accounts

Ihesiulo Grace 23 April 2015 0

Eight insurance firms have so far secured approval of their 2014 financial accounts from the National Insurance Commission (NAICOM) out of the 19 companies that have submitted their accounts as at April 8, 2015. The approved firms are: Mansard Insurance Plc; Wapic Life Assurance Limited; Wapic Insurance Plc; Custodian Life Assurance Limited; Custodian and Allied […]