Category: Insurance

Lasaco beats NAICOM recapitalisation deadline -Vanguard
Insurance

Lasaco beats NAICOM recapitalisation deadline -Vanguard

By Nkiruka Nnorom Lasaco beats NAICOM recapitalisation deadline. Lasaco Assurance Plc, under the new leadership of Chief Teju Philips, has scaled the first hurdle of the recapitalisation exercise for insurance and reinsurance companies announced by the National Insurance Commission, NAICOM, to strengthen the financial bases of underwriters. The company was able to beat the December […]

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NAICOM waives enforcement of first phase of recapitalization-Vanguard
Insurance

NAICOM waives enforcement of first phase of recapitalization-Vanguard

NAICOM waives enforcement of first phase of recapitalization. Following an Interim Injunction from the High Court to suspend the recapitalization of insurance companies, pending the determination of the suit challenging the process, the National Insurance Commission (NAICOM) said it has complied with the court order and will waive the initial mandate given to companies to […]

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NAICOM NIA disagree over recapitalization of insurance firms-Vanguard
Insurance

NAICOM NIA disagree over recapitalization of insurance firms-Vanguard

NAICOM NIA disagree over recapitalization of insurance firms The National Insurance Commission, NAICOM, and the Nigerian Insurance Association, NIA, have disagreed over the appropriate recapitalisation model for insurance firms. While NAICOM has stipulated the general capital requirements for the different categories of the insurance business and mandated that operators must meet the requirements by December […]

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Insurance Brokers Re-Registration Requirement
Insurance

Insurance Brokers Re-Registration Requirement

The National Insurance Commission NAICOM has published Insurance Brokers Re-Registration Requirement for brokers whose license has elapsed and want to re-register under same name shall complies with stated requirements. Requirements Insurance Brokers Re-Registration Requirement READ: Universal Insurance Gets NAICOM Approval To Underwrite Agric Insurance-Business Today

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Insurance

All You Should Know About Takaful-African Alliance

All You Should Know About Takaful What Is Takaful? Takaful is a policy of mutual co-operation, solidarity, common interest, shared responsibility, joint indemnity and brotherhood against unpredicted risk or catastrophes, in which the participants involved are expected to contribute genuinely. Takaful in Arabic means “Joint Guarantee”. It provides policyholders with the self-discipline for savings and […]

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Insurance

Universal Insurance Gets NAICOM Approval To Underwrite Agric Insurance-Business Today

Universal Insurance Gets NAICOM Approval To Underwrite Agric Insurance BY NKECHI NAECHE-ESEZOBOR Foremost Underwriting firm, Universal Insurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance in the Nigerian insurance industry. The ‘no objection’ nod will enable Universal Insurance support farmers and service providers in the agricultural value chain […]

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AIICO Insurance Rights Issue Subscribed 126%-Business Day
Insurance

AIICO Insurance Rights Issue Subscribed 126%-Business Day

AIICO Insurance Plc has recorded yet another milestone achievement in its recapitalization journey, with its recent rights issue oversubscribed. Recently, the company conducted its Rights Issue exercise listing 4,357,770,954 Ordinary Shares of Fifty kobo (N0.50) each at Eighty kobo(N0.80) per share, on the basis of (5) new shares for every (13) ordinary…….. AIICO Insurance Rights […]

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