The National Insurance Commission (NAICOM) has introduced new insurance operation guidelines with a view to address the issue of low insurance penetration in the market. They are the Web Aggregators Operational guidelines; State Government’s Implementation of Compulsory Insurance (or State Financial Advisers) guidelines; Independent Agents...

Insurance in Nigeria started gaining ground in the early part of the nineteenth century. The British Bank of West Africa started operating as an insurance agent in 1894, while the Royal exchange assurance of London was the first to set up a branch office...

Elementary concept in Islamic Banking dates back to the mid-1940s. Comprehensive details appeared in the late 1960’s. The first experiment was set up undercover in MitGhamr Egypt, 1963 (the model was German Savings bank modified with Islamic principles. Islamic Development Bank was established in...

The National Insurance commission has released the list of insurance companies that it approved its 2016 financial statements as at June 13, 2017. The Head, Corporate Affairs of the commission, Mr Rasaaq Salami, made this known in a statement, adding that FBN General Insurance, Wapic...

Standard Life Assurance, foremost insurance underwriting company, Standard Alliance Insurance Plc, has received approval from the National Insurance Commission (NAICOM) to operate as a composite insurance company. With this composite status, Standard Alliance Insurance Plc can now underwrite both life and non-life insurance risks. Speaking...

Following series of consultations by the National Insurance Commission (NAICOM), a synergy has been created with the Federal Fire Service (FFS) and the Nigeria Insurers Association (NIA), to as a matter of urgency kick-start the enforcement of public building insurance in the country. NAICOM's Commissioner...