NAICOM Approves Recapitalisation Plans Of 44 Insurance Firms   The National Insurance Commission (NAICOM) has approved the recapitalisation plans of 44 out of the 54 Insurance companies in Nigeria. Mr Agboola Pius, Director, Policy and Regulation, NAICOM, said this yesterday at an interactive session with shareholders to...

Insurance Firms’ Total Assets Now N1.3trn   THE total asset of 58 insurance companies as at 2018 stands at N1.3trn, Acting Commissioner, National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas has said. This is coming after some years of non-availability of the true financial position of the...

NAICOM Tasks Operators On Process Digitalisation   The failure to key into the 21st Century digital services might spell doom for Nigerian underwriters, the Acting Commissioner, National Insurance Commission (NAICOM), Sunday Thomas, has warned. He advised that it is important for practitioners to work together and become...

Life Annuity Fund Hits N323bn - NAICOM     The insurance industry life annuity fund portfolio has grown to N322.9bn as at the end of the second quarter of 2019, data released by the National Insurance Commission (NAICOM) has shown. This represents a growth of 17.46 percent from...

Quoted Insurance Firms Want N142.13bn Capital Raise   Following the recent increase in the minimum share capital of insurers by the National Insurance Commission, insurance firms listed on the Nigerian Stock Exchange need N142.13bn to meet the requirement. The National Insurance Commission on May 20 issued a...

Recapitalisation, Micro-insurance Hold Key To Sector’s Growth   Nigeria’s insurance industry has not shared in the growth experienced by other Nigerian financial services, notably banks, pension funds and mutual funds. In fact, it has hardly grown in real terms over 10 years. This is the position of...