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Saturday, October 31, 2020

Guinea Insurance records N1.29bn Gross Premium Written in 2019

By Rukayat Adeyemi Lagos, Aug. 24, 2020 Guinea Insurance plc on Monday said it recorded a modest earnings of N1.29 billion in 2019 as its Gross Premium Written (GPW) as against N1.24 billion in 2018, representing an increase of 4.02 per cent. Mr Ufot Hanson, Team...

NAICOM releases guidelines of Minimum Paid-up Share Capital for Insurance Companies

Lagos, Aug. 18,2020 The National Insurance Commision (NAICOM) on Tuesday released guidelines for the payment of Minimum Paid-up Share Capital by insurance and re-insurance companies in compliance with the first phase recapitalistion directive deadline of Dec. 31. Mr Pius Agboola, Director, Policy and Regulations,...

SUNU Assurances reports 30% profit growth to N1.2billion

SUNU Assurances Nigeria Plc has increased its profit by 30% It went up from N914 million in the 2018 financial year to N1.189 billion in 2019. This is due to a decrease in net claims by 24 per cent from N.868 billion in 2018...

Stanbic IBTC plans wholly-owned Life Insurance Subsidiary

Stanbic IBTC Holdings PLC wishes to announce that it has commenced the process of seeking regulatory approvals to establish a wholly-owned Life Insurance subsidiary to be known and referred to as Stanbic IBTC Insurance Limited. The commencement of operations for this proposed subsidiary is subject...

NAICOM confirms applications of 4 companies for insurance business

By Rukayat Adeyemi Lagos, July 24, 2020 The National Insurance Commission (NAICOM) on Friday confirmed the receipt of applications for licences of four companies to transact insurance business in Nigeria. The companies are; Heir Insurance Ltd. (General); Stanbic IBTC Insurance Ltd; Heirs Life Assurance Ltd.;...

COVID-19: Expert urges insurance operators to leverage on innovative products

By Joy Odigie Benin, July 23, 2020. Mr Tella Adekunle, an insurance underwriter, has urged insurance operators to leverage on technology to drive the industry’s growth during this COVID-19 pandemic period. Adekunle gave the advice on Thursday in Benin in an interview with...

Prestige Assurance targets N6.8bn in rights issue of 13,635,796,006 shares

Prestige Assurance is set to raise N6,817,898,003 through the issue of 13,635,796,006 shares at N.50 kobo per share, to meet up regulatory requirements and enhance its business operations. The firm disclosed this at the signing of its proposed Rights Issue on Tuesday, seen by Naija247news.com The...

FBNHoldings wins World Finance Best Corporate Governance in Nigeria Award

Nigeria’s leading financial services group and holding company, FBN Holdings Plc, has won the 2020 Best Corporate Governance in Nigeria Award by the World Finance. World Finance is renowned for its comprehensive coverage and analysis of the global financial services industry, international business, and the...

FBNInsurance Posts N37.63bn Premium in 2019

FBNInsurance Limited recently presented its 2019 audited annual report to its shareholders during a virtual Annual General Meeting (AGM) held in Lagos. At the e meeting, Managing Director of the company, Mr. Val Ojumah, announced that the company recorded a gross written premium of N37.63...

AIICO Insurance Eyes N3.4bn from Existing Shareholders

AIICO Insurance Plc is to raise about N3.486 billion from the capital market through a rights issue. In a notification to the dealing members yesterday, the Nigerian Stock Exchange (NSE) said AIICO Insurance Plc had submitted an application to the Exchange for the approval...
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