Tag "INSURANCE"

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Revisiting Third Party Vehicle Insurance Premium

Nigerians received a Christmas shock on Thursday, December 22, 2022 when the National Insurance Commission, NAICOM, announced an increase of the third party motor insurance premium by 200 per cent. The NAICOM, in a circular signed by the Direc­tor of

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Effects of Misconception of Deposit Insurance System – NDIC

Mariam Sanni, Abuja The Nigeria Deposit Insurance Corporation (NDIC) has stated that a limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in Nigeria was largely responsible for the pool of unclaimed deposits following bank closures. The

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NAICOM To Collaborate With NYSC On Insurance Sensitisation , Penetration

The National Insurance Commission (NAICOM) says it will collaborate with the National Youths Service Corps (NYSC) to promote insurance sensitisation and improve penetration in the country. Mr Adeyemi Abubakar, the Head, Market Development of the commission, said this at a

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‘Nigerian Insurance Companies Under Capitalize’

By Lois Effiong The Group Managing Director/CEO, Continental Reinsurance, CRe Plc., Dr Femi Oyetunji in an exclusive interview spoke on the recapitalization of the Nigerian Insurance Companies. During an interview session with Financial Vanguard on Monday, He said that the

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Adeosun Urges Nigerians To Embrace Insurance

By Mariam Sanni, Abuja The Minister of Finance, Mrs Kemi Adeosun, has urged Nigerians to embrace insurance to protect themselves against the eventualities of life and also enhance the sector’s contribution to the country’s Gross Domestic Product (GDP). Kemi Adeosun

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Minister urges insurers to recapitalize

The Minister of Finance, Mrs Kemi Adeosun has urged insurers to recapitalize to reverse the sector’s underperformance. This was made known in her opening remarks at the Insurance Industry Consultative Council (IICC) National Insurance Conference, at Transcorp Hilton, Abuja. she

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NIA reinforces commitment to ‘market discipline’

  In order to improve market conduct and discipline, the Nigerian Insurers Association (NIA) is has set   to make insurance business more rewarding for operators and the economic growth. The Chairman of NIA, Godwin Wiggle, in his stewardship report, said

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