Nigeria’s Federal Government Orders Insurance Companies To Get Fresh Microinsurance Licence Within 18 Months

The Nigerian Federal Government has issued an 18 month ultimatum to 17 insurance companies selling microinsurance products to acquire fresh microinsurance licences or suspend the selling of these products. The Federal Government, which gave this deadline through its agency, the National Insurance Commission(NAICOM), added that, in a case where any of the concerned insurance firms… Continue reading Nigeria’s Federal Government Orders Insurance Companies To Get Fresh Microinsurance Licence Within 18 Months

9 Insurance Companies Face Legal Battle Over N3b Legacy Funds

Nigeria’s Pension Transitional and Arrangement Directorate (PTAD) is weighing up the possibility of taking legal action against some nine insurance companies still owing the Directorate about N3billion legacy funds, as was revealed by investigations. PTAD had earlier set a December 2017 deadline for defaulting insurers to pay their respective legacy Fund to the agency, which… Continue reading 9 Insurance Companies Face Legal Battle Over N3b Legacy Funds