Banking and Insurance Stocks Boost NGX by N403bn   The Nigerian stock market extended its bullish momentum on Thursday as the Nigerian Exchange Limited recorded a gain of N403bn, driven by renewed investor interest in insurance and banking stocks. At the close of trading, the market capitalisation...

Insurance Market’s Gross Premium Now N813.1bn   The insurance market recorded about N813.1billion in Gross Premium Written in Quarter 2, 2024, indicating a 47.4 per cent growth rate compared to the same period of the previous year and a 72.7 per cent, quarter on quarter, it...

Insurance Firms, Banks Others Contribute N1.72trn To Economy   Banks, insurance companies and other financial institutions contributed N1.72 trillion to the nation’s real Gross Domestic Product (GDP) in the first half of the year, H1’23. This represents 27 percent year-on-year YoY growth from the N1.35 trillion contributed...

Insurance Claims Now N1.5trn - NAICOM   Insurance companies paid N1.5trn claims in six years as businesses increased. The biggest advertisement needed to promote insurance patronage is prompt claims settlement according to industry experts. The Nigerian underwriting companies have so far paid N1.5tn claims to their customers in...

Nigerian Insurance Sector Records 15.68% Growth In Q1, 2022     The Nigerian insurance sector grew by 15.68 per cent in the first quarter of the 2022 financial period, according to figures obtained from the National Bureau of Statistics (NBS) on the country’s Gross Domestic Product. The statement...

Nigeria Loses N530bn Annually To Motor Insurance Evasion       Although Nigeria has about 11.8 million registered vehicles plying the roads, only about 1.2 million of such vehicles have valid insurance. The implications are that the nation’s insurance industry may be losing about N530 billion due to the...