No Sanctions for 14 Insurance Firms- NAICOM The National Insurance Commission(NAICOM) has refuted reports in the Media that it has sanctioned 14 insurance firms for failing to submit their 2017 financial accounts. In a statement signed and circulated by the Head of Corporate Affairs of the...

Weak Regulation, Poor Leadership Ruining Insurance Sector Insurance industry experts have blamed weak industry supervision and poor leadership for the sector’s abysmal performance over the years. They admitted that over the years, the insurance industry in Nigeria has experienced slow and stunted growth for reasons such...

Governing Boards of NAICOM, NCS, NEXIM for Inauguration The Governing Boards of three Agencies supervised by the Federal Ministry of Finance would be inaugurated  Thursday, this week Minister of Finance, Mrs. Kemi Adeosun has announced. The Boards that would be inaugurated are those of Nigeria Customs...

Insurance Sector Records N235bn Premium In Nine Months The Nigerian Insurance sector recorded N235bn gross written premium from January to September of the 2017 financial year, according to the National Insurance Commission. In 2016, the sector recorded a gross written premium of N325bn. According to figures from...

Microinsurance Firms’ Capital Base Cut Down To N40m By NAICOM   The National Insurance Commission has reduced the minimum capital base for microinsurance companies from N150m to N40m. This was contained in the new microinsurance guideline that was released by the commission on Monday. “As part of the commission’s...

The National Insurance Commission (NAICOM), in partnership with the Kaduna State Government, is set to enforce the nation’s five compulsory insurance policies in the state. They are motor vehicle (third party) liability insurance, builders’ liability insurance (buildings under construction), occupiers liability insurance on public building,...