30 results
- 2 Jul 2019
NAICOM Boss Calls for Reform of Insurance Industry
Mr. Mohammed Kari, the Commissioner for Insurance National Insurance Commission (NAICOM), has stressed the need to reform and digitise the country’s insurance industry to boost the economy. Kari said…
- 31 Dec 2020
NAICOM Suspends Insurance Industry Recapitalisation
The National Insurance Commission (NAICOM) has suspended the ongoing Insurance industry’s recapitalisation following a court order on the initiative. NAICOM’s spokesman Rasaaq Salami, reacting to the…
- 3 Jul 2025
NAICOM Issues New Licenses to SanlamAllianz Life, General Insurance
The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd at brief ceremony held in Abuja. Olusegun Omosehin, commissioner for…
- 27 Jun 2013
Insurance Industry Records N240Bn Transactions in 2012
Mr. Remi Olowude, chairman, Nigerian Insurers’ Association (NIA), has said that the volume of business underwritten by the insurance industry in 2012 was estimated at N240 billion. Olowude, gave the…
- 23 Oct 2023
Elumelu Proposes N30Bn Capital Base for General Insurance, N20Bn for Group Life
Mr. Tony Elumelu, chairman, Heirs Insurance Group, has proposed N30 billion and N20 billion as capital base for general and non-group life insurance firms operating in Nigeria. Tony Elumelu,…
- 14 Jul 2008
Industry Support Grows for Insurance Technology Event
Nigerian Insurance players are gearing up for the forth coming InTechExpo® 2008, the very big thing in the industry in particular and the financial services sector in general. The inaugural…
- 24 Jul 2023
Heirs Insurance Group Launches Mobile App, Chatbot, USSD Channels
Insurance companies, Heirs General Insurance (HGI) and Heirs Life Assurance (HLA), subsidiaries of Heirs Holdings, launched multiple digital channels, making insurance transactions easier for…
- 31 May 2010
IGI Endorses Odemwingie as Brand Ambassador
Nigeria’s foremost sports-friendly insurance company, Industrial and General Insurance Plc (IGI) has endorsed Super Eagles striker, Osaze Odemwingie as its Brand Ambassador for the next three…
- 10 Jun 2022
Insurance Experts urge Operators to Practice Sustainable Insurance
Insurance experts have urged stakeholders in the industry to practice sustainable insurance, saying that this is the future of the risk business. The experts spoke at the maiden edition of the…
- 22 Feb 2010
Culture, Ignorance; Barrier to Raising Life Assurance
Life Assurance is one of the most crucial areas in the products-line of insurance. While it is as old as the general insurance business, industry watchers have watched with dismay, the slow pace of…
- 29 Sept 2014
Olowude, Insurance Guru Is Dead
Remi Olowude, executive vice chairman, Industry and General Insurance (IGI) Plc is dead at the age of 63. Steve Ilo, senior manager, Corporate Communications, IGI, who confirmed his death, said an…
- 31 May 2010
Expert Tasks Loss Adjusters on Training, Status Enhancement
As insurance business in Nigeria grows, industry watchers have opined that the loss adjusting arm of the industry is not growing at a corresponding rate. Of significant importance is that not many…
- 1 Jun 2021
Heirs Holdings Enters Insurance Market - Promises Insurance Revolution
Heirs Holdings (HH) announced the Group’s transformative insurance industry play, with the launch of Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA), yesterday at the companies’ Victoria…
- 10 Mar 2015
Senate Kills Insurance Brokers Bill
Senate on Monday at a public hearing organised by its committee on Banking, Insurance and other Financial Institutions frustrated attempts to seek legal backing for Insurance brokerage and accord…
- 27 Jun 2025
NIA Puts Industry Written Premium @ N1.5trn in 2024
Nigerian insurance industry has recorded a gross written premium of N1.562 trillion in the 2024 financial year. Mr Kunle Ahmed, Chairman, Nigerian Insurers Association, disclosed this during the 54th…
- 6 Aug 2024
Heirs Insurance Group Appoints Ibrahim Puri and Sonny Iroche as Independent Non-Executive Directors
Heirs Insurance Group (HIG), Nigeria's fastest-growing insurance provider, has announced the appointment of Ibrahim Puri and Sonny Iroche as Independent Non-Executive Directors of its non-life…
- 19 May 2023
P2Vest Launches Insurance Marketplace
P2vest Technology has announced the launch of its new product, P2Vest InsuranceParasol. The product, the company said in a statement, will provide lasting solutions to both individuals and businesses…
- 1 Feb 2010
Insurance Contribution to GDP Still too Low --Study
Going by the current performance indicators in the insurance industry, the slow pace of penetration into the market appears to be facing serious attention but not yet enough to equate our…
- 23 Sept 2022
FBN Insurance Rebrands to Sanlam Life Insurance
Following the completion of all regulatory procedures, FBN insurance Limited has been officially renamed to Sanlam Life Insurance Limited. The deal was finalised after Sanlam acquisition of…
- 4 Mar 2026
NAICOM Signs MoU with BPP to Deepen Insurance Compliance in Public Procurement
The National Insurance Commission (NAICOM), has signed a Memorandum of Understanding (MoU) with the Bureau of Public Procurement (BPP) for collaboration and strengthening of the insurance industry,…
- 17 Oct 2014
Insurance, Technology Shake Hands @ Myautogenius.com
A revolution in Nigeria’s Insurance Industry has commenced with the entrance of MyAutoGenius.com into the market, on Thursday. With 15.5 million cars in Lagos alone and over 14% of cars on Nigerian…
- 23 Aug 2010
Analyst Decries Nigerians low Appreciation of Life Insurance
Spending in the Life insurance sector has dropped significantly in the last two year. This according to experts is not unconnected with the general decline in the economy which cannot be detached…
- 6 Jul 2010
Pension payment to Embrace E-Payment
The payment of pension claims in Nigeria has over the years been shrouded in pains and agony. Many have died trying to collect their retirement benefits. Unfortunately the various efforts made in the…
- 22 Sept 2013
Why We Introduced Oil & Gas Guideline- NAICOM
National Insurance Commission (NAICOM) has said that the introduction of oil and gas guideline for the sector is to increase insurance firms’ market. Mr. Fola Daniel, commissioner for Insurance, who…
- 27 Jun 2023
Nigerian Insurers Pool N726.2bn Premium in 2022
Nigerian Insurers Association (NIA) yesterday said that the volume of premium recorded by its member companies in 2022 grew to about N726.2 billion. Mr Olusegun Omosehin, NIA’s Chairman, said this…
- 28 Jun 2022
NAICOM Cancels Niger Insurance, Standard Alliance’s Operational Licences
National Insurance Commission (NAICOM) has cancelled the certificates of registration of Niger Insurance Plc and Standard Alliance Insurance Plc. This was disclosed in a statement issued by ‘Rasaaq…
- 23 Dec 2013
Risks Underwriters to Deploy NIID to Detect Fake Certificates
Nigerian Insurers Association (NIA), umbrella body for risks underwriting companies in the country, said it would deploy the Nigerian Insurance Industry Database (NIID) to check the increasing rate…
- Financial5 Sept 2026
NAICOM Targets 10% Insurance Penetration, 25m Nigerians by 2031
The National Insurance Commission (NAICOM), has unveiled a five-year industry-wide blueprint to significantly deepen insurance coverage in Nigeria, targeting an increase in penetration from 0.5 per cent of Gross Domestic Product to 10 per cent by 2031.
- 17 Aug 2010
Share Activist Threatens Insurance Firms over Poor Dividend
The insurance industry may be heading for a collision with the shareholders soon if threatening signals emanating from the shareholders are anything to go by. Sounding a note of warning recently,…
- 21 Feb 2018
CognitiveTechnology Reshaping Africa’s Insurance Sector
By Uzo Nwani Underinsurance remains a feature of many African economies. With the African Development Bank(AfDB) revising its projected GDP growth rate for the continent to 3.7% from 4.2% by…