Insurers Gave Free Riot Covers Before #EndSARS Protests – NAICOM       The Commissioner for Insurance, Mr Sunday Thomas, has said insurance companies gave free strike, riot and civil commotion covers to the customers due to competition before the #EndSARS protests that led to looting and wanton...

Nigerian Insurance Industry’s Asset Rises To N1.8trn       The Nigerian insurance industry’s assets rose from N1.61tn at the end of the 2019 financial year to N1.8tn in June 2020. The Central Bank of Nigeria disclosed this in a report, titled ‘Insurance sector (general and life) consolidated balance...

Life Annuity Funds Rise To N463.1bn - NAICOM       Life annuity funds managed by life insurance companies rose to N463.1bn as of the end of the second quarter of 2020. This was disclosed in a report entitled ‘Retiree life annuity: An overview of Q2, 2020’ by the...

PenCom Reviews Annuity Guidelines, Addresses PFAs, Insurers’ De-marketing       The National Pension Commission and the National Insurance Commission, on Tuesday, signed off the revised regulation on retiree life annuity, and the guidelines on Group Life Insurance Policy for employees and Contributory Pension Scheme retiree pack. The ceremony,...

Buhari Appoints Two New Deputy Commissioners For NAICOM   President Muhammadu Buhari, has approved the appointment of Alhaji Sabiu Abubakar and Mr Oba Oluniyi as Deputy Commissioners for Insurance, National Insurance Commission (NAICOM). This was disclosed in a statement by NAICOM’s Head, Commissioner for Insurance, Mr. Rasaaq...

Buhari Appoints Sunday Thomas As NAICOM Boss   President Muhammadu Buhari has approved the appointment of Sunday Thomas as the substantive Commissioner for Insurance/Chief Executive Officer, National Insurance Commission (NAICOM). It will be recalled that Thomas replaced immediate past commissioner for Insurance/CEO, Mallam Mohammed Kari, as Acting...