The insurance industry recorded 22 percent increase in gross premium income, year-on-year, to ₦315 billion in the third quarter (Q3’18) from ₦258 billion recorded in the corresponding period of 2017 (Q3’17). Commissioner for Insurance, Alhaji Mohammed Kari, disclosed this while delivering the keynote address at a workshop for insurance journalists in Lagos on Friday. He […]
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Nigerian insurance sector is predicted to hit an income ₦1 trillion premium by 2020 if there is collaboration among operators in the industry, Managing Director/ Chief Executive Officer of Law Union & Rock Plc, Mr. Jide Orimolade, has said. Orimolade, who made the assertion at a media forum in Lagos, stated that operators should collaborate […]
Read More Although, the Nigerian Insurance Industry Database (NIID) has not started yielding the expected profits, the Nigerian Insurers Association (NIA) has said it got ₦160.47 million as proceeds from the data uploads in 2016. According to the association’s 2016 financial report, the balance in the account of the NIID as at the beginning of last year […]
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The Minister of Finance, Mrs kemi Adeosun, on Monday said that only three million out of 180 million Nigerians possessed insurance policies to protect themselves from uncertainties. Adeosun, who made the disclosure at the ongoing 2017 National Insurance Conference (NIC) in Abuja, noted that insurance was playing critical roles in the economy. The theme of […]
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Only eight million vehicles out of the estimated 17 million on Nigerian roads have genuine insurance cover, according to the Nigerian Insurers Association. Figures obtained by correspondent from the association indicated that the number of genuinely insured vehicles had risen from three million that was recorded in the Nigerian Insurance Industry Database in 2015. “The […]
Read More FBN Insurance Limited, an FBN Holdings company associated with the Sanlam Group SA, says it is committed to taking insurance to the nooks and crannies of the country. The Managing Director, FBN Insurance Limited, Val Ojumah, said that the company was willing to provide affordable and responsive insurance to the public. He said, “Our strong […]
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Global tech giant Google Inc. and other telecom company such MTN, Airtel and MainOne, are set to lay out strategies to deepen insurance penetration in Nigeria with the use of Information and Communications tools, at an E-Insurance Conference scheduled to hold on March 23, at Sheraton Hotels and Towers, Ikeja, Lagos. The conference with the theme […]
Read More Key stakeholders in the insurance and the Information Communication Technology industries would converge in Lagos on March 23, this year to discuss how to further use Information Communication Technology (ICT) to deepen insurance penetration in Nigeria. The conference being organised by Pinet Informatics Limited in collaboration with major stakeholders in the two industries is tagged […]
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