Fed Govt Backs Insurers On Compulsory Policies   The Federal Government has assured insurers that it will ensure compliance with compulsory policies in the country. The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, said this during the 50th anniversary and commissioning of the new...

EndSARS: Insurers Pay N11bn Claims To Cover Losses The Nigerian Insurers Association has said insurance companies have paid N11bn claims on losses suffered during the 2020 #EndSARS protest. The Chairman, NIA, Mr Ganiyu Musa, disclosed this at a press briefing in Lagos. “As at January, insurers have...

Insurers Make N10.1bn From Life Annuity In Q4, 2020       Insurance companies providing Retiree Life Annuity (RLA) to retirees under the Contributory Pension Scheme (CPS) received N10.1 billion premium, in the fourth quarter of 2020. Life Annuity is a series of monthly or quarterly payments paid to...

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...

NAICOM Tasks Insurers On N463.1bn Annuity Business       The National Insurance Commission (NAICOM) has expressed worry over the declining participation of life companies in retiree life annuity (RLA) business, which is considered a huge opportunity for the industry. RLA is a pension benefit administered by life insurance...

Insurers Pooled N938bn Investment Revenue       Despite the challenging operating environment in the country, insurance companies have recorded growth in investment income which has hit N938 billion. Economic Confidential finding showed that the life segment made over 60 per cent of the income as they have lots...