NAICOM Unveils Revised Annuity Regulations for Insurance Operators   In a move to strengthen the annuity market and ensure greater transparency, the National Insurance Commission (NAICOM) has introduced new regulations governing annuity business, effective February 1, 2025. An annuity is a contract between you and an insurance...

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...

Pension Funds Increase by 2.23% in May – PenCom The value of pension funds in Nigeria increased by 2.23 per cent month-on-month to cross the N20tn mark to N20.23tn in May 2024. According to the unaudited report on the pension funds industry portfolio for the period...

Tinubu Appoints Board for NAICOM   President Bola Tinubu has approved the appointment of the following Nigerians to the Board of the National Insurance Commission (NAICOM): (1) Ms. Halima Kyari -- Chairperson (2) Mr. Olusegun Ayo Omosehin -- Commissioner for Insurance (3) Mr. Olawoye Gam-Ikon -- Deputy Commissioner (Technical...

NAICOM Issues Crown Takaful Operational License The management of Crown Takaful Insurance Limited has received operating license from the National Insurance Commission (NAICOM) to start business for the benefit of Nigerians. The operation license is coming barely three months after the issuance of approval in principle As...

Commodities Export Will Grow Nigeria’s Economy – SEC   The Securities and Exchange Commission (SEC) has said that Nigeria has various commodities that could be exported in a bid to grow the country’s economy, provide jobs as well as provide the nation with foreign exchange earnings. The...