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...

Nigerian Insurers Settle N4bn #EndSARS Claims       The Nigerian Insurers Association has said insurance companies have so far paid N4bn claims from the estimated losses from #EndSARS protests in October last year. The Chairman, NIA, Mr Ganiyu Musa, disclosed this during a virtual press briefing in Lagos...

#EndSARS: 25 Insurance Companies To Pay N20.4bn Claims       Twenty-five insurance companies have recorded claims totalling N20.4bn from losses that emanated from the #EndSARS protests which occurred in the country in October, findings have revealed. Figures obtained from by our correspondent from the underwriters on Wednesday under...

Insurance Sector Contracted By 12.05% In Q4, 2020 – NBS       The insurance sector contracted by 12.05 per cent in the fourth quarter of 2020, latest figures from the National Bureau of Statistics have revealed. Figures obtained from the NBS on the industry’s performance also revealed that...

Fourteen Insurers To Pay N9.7bn #EndSARS Riot Claims         A total of 1,036 individuals and corporates that recorded losses during the recent #EndSARS protests across the country have lodged claims through 14 insurance companies; 667 of the claimants are from Lagos. Fourteen insurance companies will pay about...

Insurance Generates N490bn In 2019 Financial Year   The Nigerian Insurers Association (NIA), has revealed that the volume of business written by the industry rose to N490 billion in 2019, a 15.55 per cent over 2018 level of N413.8 billion. The outgoing Chairman, NIA, Tope Smart, at...