Despite operating with the highest capital in Africa, Nigerian insurance industry’s penetration rate remains very low, at 0.6 per cent, compared with South Africa’s 15.4 per cent. What is required to change the narrative and grow the sector? OMOBOLA TOLU-KUSIMO reports. The Nigerian insurance industry operates with the highest capital in Africa. For instance, as […] …
insurance penetration
NAICOM: insurance penetration in Nigeria, others abysmal
Insurance penetration in Nigeria and other African countries remains abysmally low, Deputy Commissioner for Insurance, Technical, National Insurance Commission (NAICOM), Mr. Sunday Thomas, said at the weekend. Thomas, who spoke during Chartered Insurance Institute of Nigeria (CIIN) Business Outlook in Lagos, said the industry, during the third quarter 2018, recorded 22 per cent increase in […] …