26 C
Lagos, South Africa and New York
Wednesday, August 5, 2020

Survey: Only 9% of Nigerians Have Health Insurance Cover

Despite efforts by federal and state governments to ensure that Nigerians embrace health insurance scheme, only nine percent of the country’s population have subscribed to the scheme, a survey has shown. As many as 89 per cent of Nigerians pay for their health care services...

NAICOM: Local insurers lose N41.7b business to foreign firms

Insurance firms have ceded businesses worth $115.74 million (about N41.7billion) abroad because of lack of financial and technical capacity, a report by the National Insurance Commission (NAICOM) has shown. A breakdown of the lost deals include business of 11 multinationals and local firms abroad,...

NAICOM reiterates insurers’ role in adopting IFRS 9

As insurers grapple with preparing their 2018 financial results in compliance with the new account standard, the International Financial Reporting Standard (IFRS) 9, the National Insurance Commission (NAICOM) has continued to senstitise them on how to have a seamless transition. The commission made this known...

NAICOM approves recapitalization plans of 44 insurance companies, rejects 6

The National Insurance Commission (NAICOM) has approved the recapitalisation plans of 44 out of the 54 Insurance companies in Nigeria. Mr Agboola Pius, Director, Policy and Regulation, NAICOM, said this yesterday at an interactive session with shareholders to update them on the 2019 recapitalisation...

Insurance companies seek $725m to meet recap order

Insurance companies will need $725 million (about N261.5 billion) to meet the new capital requirement of the National Insurance Commission (NAICOM), Africa Re has said. Speaking on the sideline of the just concluded African Insurance Conference (AIO) in South Africa, its Group Managing Director, ...

Expert gives Reasons Why NAICOM Should Be more transparent On Insurance sector Recapitalization

By Ekerete Gam-Ikon* The time has come for the insurance sub-sector in Nigeria to be brutally honest with herself in order to gain the needed capacity to connect, collaborate and communicate more effectively with the citizenry; especially other economic actors/stakeholders. Without TRUST returning...

Nigerian Insurance Industry lags behind its African peers with penetration rate of 14.7% – NSE CEO

the Nigerian Insurance Industry still lags behind its African counterparts - with South Africa having a penetration rate of 14.7%, Kenya 2.8%, Ghana 1.1% and Egypt 0.6%, Oscar Oyema, Nigeria Stock Exchange CEO has said in a speech delivered at Insurance Sector Forum. According to...

Agritask, Royal Exchange launch digital crop, livestock insurance to underwrite 1 mln Nigerian small holder farmers by 2025

For millions of Nigeria's smallholder farmers, the opportunity for market and financial inclusion is no longer a dream Lagos Nigeria, April 7, 2020 / -- Agritask, a leading global developer of a holistic agronomic operations platform, in collaboration with Royal Exchange, General Insurance company limited,...

In 2019, Nigeria’s local insurance players lost 50.8% business to foreign investors

Nigerian insurers were unable to utilise the 70 per cent local content capacity allotted to them through the Local Content Act, retaining only 19.2 per cent in 2019, Naija247news understand. The indigenous insurers were only able to retain 10.8 per cent out of the 70...

Ekiti health insurance takes off, targets 10,000 pregnant women, children

Ado Ekiti, July 10, 2020, A total of 10,000 pregnant women and children are to benefit from the Ekiti State Health Insurance Scheme (SHIS), as Gov. Kayode Fayemi launched its take-off on Friday in Ado Ekiti. The governor said that the scheme was designed toward...
WP to LinkedIn Auto Publish Powered By : XYZScripts.com
Open chat
Send us your story