Eaton Acquisitions increases stake in NEM Insurance Plc

Eaton Acquisitions Limited, an investment company, has increased its stake in NEM Insurance to 9 per cent days after it announced the acquisition of 4 percent of the insurance company. While the initial 130 million shares sold at ₦4 each, […]

Why NAICOM changed recapitalization deadline

The National Insurance Commission (NAICOM) on Friday confirmed backdating the insurance companies Tier-based recapitalisation commencement date to Oct. 1, as against January 1, 2019 it earlier announced. Mr Rasaaq Salami, NAICOM’s spokesman, made the confirmation in an interview with the […]

Recapitalization: NAICOM Triples Minimum Capital Requirement

Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new levels of capital by Jan. 1, according to […]

Are Insurance Products hard to sell?

Concerted efforts from different quarters to get Nigerians to appreciate the benefits inherent in the sector, seem not to have achieved much, as a recent survey showed that over 86 million Nigerians don’t have any form of insurance cover. BANKOLE […]

Insurer boosts sector’s premium with N8.6 billion

Niger Insurance Plc posted a gross premium of N8.59 billion in 2017, against N5.96 billion recorded in 2016, the Chairman of the company, Yusuf Abubakar, has disclosed.At the company’s yearly general meeting in Lagos, he stressed that the premium moved […]

Unlike Davido, give your ‘baby’ insurance

In his recent hit song, the Nigerian hip-hop juggernaut, David Adeleke aka Davido, promises his lover, Chioma, ‘assurance’. But what does this mean? An assurance is some kind of protection against something that is guaranteed to happen like death. Insurance, […]