NAICOM To Boost Financial Inclusion In Insurance Sector       The National Insurance Commission has launched a 2021-2023 strategic plan to improve financial inclusion in the country’s insurance sector. The Commissioner for Insurance, Mr Sunday Thomas, disclosed this on Friday during a seminar for insurance reporters, with the...

NAICOM, Transportation Ministry Synergise to Insure Transport Owners and Users The National Insurance Commission, NAICOM and the Federal Ministry of Transportation is to collaborate to ensure provision of adequate insurance for road transport owners and users within Nigeria and ECOWAS member countries. To this end, the...

NAICOM Rallies towards IFRS on Insurance Contracts The National Insurance Commission (NAICOM) has activated its machinery as part of efforts towards the launch of the new International Financial Reporting Standard 17 (IFRS 17) for Insurance Contracts scheduled for January next year. The International Accounting Standard Board...

NAICOM, NIA Clash Over Recapitalisation Of Insurance Firms       The National Insurance Commission, NAICOM, and the Nigerian Insurance Association, NIA, have disagreed over the appropriate recapitalisation model for insurance firms. While NAICOM has stipulated the general capital requirements for the different categories of the insurance business and...

NAICOM Tasks Insurers On N463.1bn Annuity Business       The National Insurance Commission (NAICOM) has expressed worry over the declining participation of life companies in retiree life annuity (RLA) business, which is considered a huge opportunity for the industry. RLA is a pension benefit administered by life insurance...

Insurers Losing Oil, Gas Premiums To Foreigners – NAICOM       The Commissioner for Insurance, Mr Sunday Thomas, has said the essence of the local content law is not being realised in the insurance sector because many businesses in the aviation and oil and gas sectors were...