Non-performing Loans Of Insurance Firms, Others Fall By N24.28bn     The non-performing loans of insurance companies and other finance organisations granted by banks have dropped by N24.28bn. Specifically, the loans dropped from N28.86bn in December 2018 to N4.58bn at the end of the 2019 financial year, according...

Insurance Firms Pay N769bn Claims in 3 Years   The insurance sector paid claims totalling N769.26bn in three years, the National Insurance Commission said in a report. The commission revealed that the sector paid N186.4bn, N252.19bn and N330.63bn in 2017, 2018 and 2019, respectively. The acting Commissioner for...

NAICOM Approves Recapitalisation Plans Of 44 Insurance Firms   The National Insurance Commission (NAICOM) has approved the recapitalisation plans of 44 out of the 54 Insurance companies in Nigeria. Mr Agboola Pius, Director, Policy and Regulation, NAICOM, said this yesterday at an interactive session with shareholders to...

Insurance Firms’ Total Assets Now N1.3trn   THE total asset of 58 insurance companies as at 2018 stands at N1.3trn, Acting Commissioner, National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas has said. This is coming after some years of non-availability of the true financial position of the...

Recapitalisation: Foreign Investors Take Over Insurance Firms   Many indigenous underwriting firms have been taken over by foreign investors since the last recapitalisation that took place in the insurance sector, investigation has shown. The National Insurance Commission confirmed that a number of local players in the insurance...