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Insurance
Insurance Commissioner Meets Nasarawa Gov Over Insurance Benefits
The National Insurance Commission (NAICOM) drive to sensitise stakeholders on the benefits of compulsory insurances took the regulator to Nasarawa state recently.
The commission has been sensitizing the public on benefits from Public…
Lloyd’s Nets £2.5bn Underwriting Profit In H1 2023
The marketplace for re/insurance, Lloyd’s, has reported a strong set of results for H1 2023, with an underwriting profit of £2.5 billion, a significant increase from H1 2022’s £1.2 billion.
Reinsurance News reports the strong…
Heirs Insurance Group Records N20bn Gross Premium In 2022
Heirs Infor the financial year ended December 31, 2022surance Group, comprising Heirs General Insurance (HGI) and Heirs Life Assurance (HLA), has announced N19.9 billion gross premium, a 226 per cent jump over N6.1bn in 2021.
With the…
WAICA Re. posts $214.2m gross written premium in 2022
WAICA Reinsurance Corporation Plc recorded an increase in its Gross Written Premium (GWP) from $153.3 million in 2021 to $214.2 million in 2022, representing 40 percent growth over the prior year.
This is even as it equally incurred $ 55.6…
SEC Okays Sovereign Trust Insurance’s 2.84bn Rights Issue
Except the Securities and Exchange Commission (SEC) decides otherwise, the 2,841,116,504 rights issue approved for Sovereign Trust Insurance Plc will open on 6th July.
Equity Union Ltd, the company secretary announced on Monday that the…
JP Morgan Gives $700m Multi-year Protection To Swiss Re
JP Morgan is to lead the funding for the second in the series of Global reinsurance giant, Swiss Re's multi-year stop-loss transaction, providing the reinsurer with $700 million in underwriting protection as it targets…
Coronation Insurance Exits The Red With N1.3bn Profit in 2022
Coronation Insurance Plc has pulled back from a loss of N2.6 billion in the preceding financial year to build an after-tax profit of N1.3 billion at the end of the 2022 financial year. This is in spite of a bad turn from associate profit –…
Insurance Claims On Turkey’s Earthquakes May Rise To Over $1bn
Insurance claims to redeem the loss in the 7.7 earthquakes that hit Turkey could rise to over $1b billion following an analysis by the US Geological Survey (USGS) which feared the damage could be around 78 percent loss.
This…
New Motor Rates For Third-Party, Others Kick Off Today
The formal implementation of the new motor premium rates kicks off across the federation today, ushering motorists into a new regime of benefits, especially on third-party insurance class.
The insurance sector regulator, the National…
Motorists To Get N3m Claims On Third-Party Insurance From Jan 2023
From January 1, 2023, policyholders of Motor third-party insurance stand to gain more from the industry as they will now earn N3 million claims in the event of an accident.
The new benefit to motor policyholders which was…