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Insurers’ profits suffer marginal decline in H’1

THE insurance industry in the first half, H’1, of 2018 witnessed marginal decline in profit occasioned by declining purchasing power of Nigerians coupled with increasing cost of living and cost of doing business. Analysts who spoke to Financial Vanguard said that as cost of doing business continues to mount, topline tends not to be growing at the same rate, putting pressure on the bottom-line.
Continue reading Insurers’ profits suffer marginal decline in H’1 at Vanguard News. …

Operators choose Tiers, seek capital

Operators choose Tiers, seek capital

Despite an order by the Lagos High Court restraining the implementation of Tier-Based Minimum Solvency Capital (TBMSC) policy by the National Insurance Commission (NAICOM), some insurance companies, Chief Executive Officers (CEOs) have indicated the Tier level they plan to operate out of the three available categories The CEOs, on the instruction of their boards andRead More …

Oluyanwo becomes PILA President

Oluyanwo becomes PILA President

The Professional Insurance Ladies’ Association (PILA) will continue to sustain ethical standard and promote the welfare of women in the insurance industry, its new President, Mrs. Ose Oluyanwo, has said. She made this known in her acceptance speech at her investiture in Lagos. The association, however, launched a 194-page seminal book tiitled: “The Pillar: Evolution,Read More …

Confidence is essential for insurance – Adekoya

Confidence is essential for insurance – Adekoya

In this interview with NIKE POPOOLA, the Managing Director, Wapic Insurance Plc, Mrs Yinka Adekoya, speaks on why there should be confidence in the insurance sector Why is the value of insurance not well recognised? Until the unforeseen happens and a remittance is required, the importance of holding an insurance policy hardly crosses anyone’s mind. […] …

AXA Mansard partners Paystack for seamless transactions

AXA Mansard partners Paystack for seamless transactions

Nike Popoola AXA Mansard Plc, a member of the AXA Group and global leader in insurance and asset management, has partnered Paystack, an online payment platform, to provide another option for customers to enjoy a friendly payment experience when making transactions on the AXA Mansard website, MyAXA app and other digital channels. According to a […] …

FIRS to amend tax laws affecting insurance sector

FIRS to amend tax laws affecting insurance sector

Nike Popoola The Executive Chairman, Federal Inland Revenue Service, Babatunde Fowler, has said the agency will review unfavourable aspects of the tax laws in the insurance industry. He said this during a seminar on taxation matters in insurance industry, which was organised by Leadway Assurance Company Limited in Lagos. Fowler said, “From recent engagements, it […] …

Cornerstone Insurance’s claims settlement rises to N6.3bn

Cornerstone Insurance’s claims settlement rises to N6.3bn

Nike Popoola Cornerstone Insurance Plc said its claims payment rose by N2.9bn from N3.4bn in the 2016 financial period to N6.3bn in 2017. The Chairman of the company, Mr Segun Adebanji, disclosed this during the firm’s annual general meeting in Lagos. He said, “The largest contributors to the claims figures were the oil & gas […] …

Trust Fund takes pension to artisans

Trust Fund takes pension to artisans

Nike Popoola Trust Fund Pensions Limited has said that it is committed to helping workers in the informal sector to save for vulnerable old age through the Contributory Pension Scheme. The Regional Manager, Trust Fund, Mr Obuora Ozoekwem, said this during a forum for the Federation of Informal Workers Association of Nigeria on the CPS, […] …

Cornerstone pays N6.3b claims to policy holders

Cornerstone pays N6.3b claims to policy holders

Cornerstone Insurance Plc paid N6.3 billion claims to policy holders who suffered insured risks in the 2017 financial year, its Chairman, Segun Adebanji, has said. Adebanji spoke at the company’s Annual General Meeting (AGM) in Lagos. He said the claims were N2.9 billion higher than the N3.4 billion paid in its 2016 financial year. HeRead More …

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