Nigeria’s early gains which saw it reclaiming about N136 billion transit cargoes from neighbouring countries like Togo and Benin Republic may be eroded as the port of Cotonou has signed a management agreement with the Port of Antwerp to manage and modernize its port facilities. Stakeholders in the Nigeria’s maritime industry said the move could… Continue reading Nigeria Risks Losing N136b Gain of Transit Cargoes
Life Assurance underwriting Companies in Nigeria generated a total of N124.6billion gross premium in the year 2016. The companies ceded a total of N7.3billion to their reinsurers while retaining N117.2 billion as net premium. Gross claim paid by the life operators during the period stood at N67.2billion while net claims stood at N54.6billion. Management expenses… Continue reading Nigerian Life Insurance Firms Posted N124.6bn Gross Premium in 2016
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Strong and positive moves towards enhanced integration by regional insurance players … Please Read & Enjoy!
Nigeria’s National Insurance Commission (NAICOM) has placed a two year limit on bancassurance partnerships between insurance companies and banks. The regulator also pegged the referral commission to be paid by the insurer to a referral bank at 40 percent of the insurance brokers’ commission. These were contained in the bancassurance guideline recently released by the… Continue reading NAICOM sets 2 years limit for Bancassurance partnerships.
The Nigerian Federal Government has inaugurated a road map to guide farmers in insuring their crops. According to the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, the road map will help ensure food security across the country with farmers insuring their crops and obtaining financial support in the event of occurrence of any… Continue reading Nigeria’s Federal Government Inaugurates Insurance Roadmap for Farmers.
A devastating fire recently wreaked havoc in an electronics market. Hopefully, their owners purchased appropriate insurance policies. New Post! Read, Comment & Share!!!