March 24, 2017

FBNInsurance declares N3bn profit

FBNInsurance Limited has released its financial report for the year ended 2016 as approved by the industry regulator, National Insurance Commission (NAICOM). According to figures obtained from the published financial statements, the company’s profit before tax (PBT) increased by 70 per cent from N1.8 billion in 2015 to N3.13 billion […]
March 24, 2017

Firms pay 28% of N356b premium income as claims

Of an estimated Gross Premium Income (GPI) worth N356 billion generated by the insurance industry last year, 28 per cent was paid out as claims to help individuals and businesses to recover from their losses, a report by Agusto & Co has shown. Agusto, a pan-African credit rating agency in […]
March 24, 2017

NAICOM set to introduce National scholarship scheme for Actuarial students

The National Insurance Commission (NAICOM) on Wednesday announced plans to introduce a national scholarship scheme for actuarial students and a calculated infrastructural initiative program geared towards the fast track of development of actuarial professionals. The commissioner for Insurance Mohammed Kari disclosed this during the official launch of the Deputy President […]
March 24, 2017

Allegation Unethical Practice: Mutual Benefits Vows to Prosecute Complicit

Underwriting firm, Mutual Benefits Assurance Plc on Wednesday assured the insuring public that it has commenced investigation into the alleged unethical practice carried out by an agent who is not a member of staff of Mutual Benefits. A statement made available by the company’s Head, Corporate Communication, Ellen Offo to […]