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Thursday, July 9, 2020

Firm launch N5bln Covid-19 insurance cover for Nigerians affected

Leadway Assurance Company Limited, Custodian & Allied Insurance Plc, Lasaco Assurance Plc, AIICO Insurance Plc, Tangerine Life Insurance Limited and Ark Insurance Brokers Limited contribute premium for a 5 Billion Naira insurance scheme to support Lagos State Health Care Workers and Volunteers. Health workers and...

United Capital releases H2 Economic Outlook

United Capital Plc, a leading investment banking and financial services group in Africa, has released its economic outlook report for the second half of the year 2019. The report reviews the event in the global and domestic macro environment and gives a revised outlook...

African Alliance Insurance in financial mess

African Alliance Insurance ‘s five-year financial result has revealed a worrisome outcome, Naija247news has been told. African Alliance, a life insurer, which is preparing to celebrate its 60 years’ anniversary, appears to be in a critical condition. This is going by the company’s five- year financials...

Prestige Assurance: How high underwriting costs crippled its earnings

Prestige Assurance Plc. like its peers, is grappling with increasing underwriting expenses due to challenging operating environment.Chris Ugwu writes Nigerian insurance are grappling with reduced premium growth due to economic crunch, higher impairments from oil & gas exposures, and increasing regulatory capital requirements. This is despite...

IFC, Africa RE to Develop New Insurance Market for Nigeria’s Farmers

LAGOS, Nigeria, 28 March 2019 IFC, a member of the World Bank Group, today announced that it has signed an agreement with Africa RE, a pan-African reinsurance company headquartered in Nigeria, to help thousands of small holder Nigerian farmers more easily access insurance to...

NAICOM suspends Guinea Insurance

The National Insurance Commission (NAICOM) has suspended Guinea Insurance Plc from doing new businesses, it was gathered on Wednesday. Sources within the insurance industry said the suspension took effect from January 29 this year. Going forward and until the suspension is lifted, the firm cannot take...

VFD Group divests N1.6bn shareholding from NEM Insurance

Raises N2.7bn from IPO, rights offer THE VFD Group said it has divested its N1.6 billion shareholding from NEM Insurance following disagreement with the management over strategic direction of the company. Meanwhile, the Group has successfully raised N2.78 billion from rights issuance and...

SEC invalidates NEM Insurance’s 48th AGM

Nigeria’s Security Exchange Commission Tuesday invalidated the 48th annual general meeting of NEM Insurance held in June and all the resolutions reached at the meeting. The insurance was also mandated to reconvene the AGM, with proper notice given to shareholders and in line with extant...

NSE fines NEM Insurance for contravening its Rulebook

The Nigerian Stock Exchange (NSE) has fined NEM Insurance Plc for contravening Rule 19.3 of its Rulebook. This was after the NSE received a complaint by Bernateva Partners – the solicitor to Eaton Acquisitions Limited, a major shareholder in NEM Insurance Plc – to...

Eyoanwan Ndiyo-Aiyetan exits Law Union & Rock Insurance Plc

Law Union & Rock Insurance Plc has informed the Nigerian Stock Exchange (NSE) of the exit of its Head, Human Capital Management, Eyoanwan Ndiyo-Aiyetan. Ndiyo-Aiyetan’s exit took effect from Friday, September 21, 2018. Pending replacement, Sulaiman Akintola, a Human Capital Management Officer will act in ...
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