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News
Nigeria targets 10% insurance penetration by 2031 as ISSP launches five-year plan
4+ day, 7+ hour ago (473+ words) Nigeria’s insurance sector is set for a five-year strengthening programme aimed at raising insurance penetration from 0.5 percent of gross domestic product (GDP) to 10 percent by 2031 and expanding coverage to more than 55 million beneficiaries. The initiative, known as the Insurance Sector…...
Repositioning Fortis Global Insurance for growth
2+ week, 5+ day ago (836+ words) …as firm bets on technology, customer trust Fortis Global Insurance Plc is moving into a new phase of growth after successfully strengthening its capital base, settling legacy obligations and restoring stability to its operations, with management now turning its attention…...
How five South-East states abandoned Universal Insurance till death
2+ week, 6+ day ago (256+ words) …as policyholders hang hope on liquidator The irony is that the amount required to keep the company alive was not extraordinary by the standards of Nigeria’s insurance industry. N15 billion was the minimum capital threshold prescribed for non-life insurers under the…...
Insurance sector reforms: An overview of the oversight obligations of the board of insurance companies in Nigeria
3+ week, 4+ day ago (970+ words) Business News Nigeria - Insurance sector reforms: An overview of the oversight obligations of the board of insurance companies in Nigeria Despite its huge potential, the Nigerian insurance sector has been dogged by low public trust, undercapitalisation, and perceived slow or…...
Recapitalisation sets stage for stronger insurers, deeper coverage??? Fajemirokun
3+ week, 5+ day ago (1149+ words) Nigeria’s insurance industry must now move beyond the recently concluded recapitalisation exercise and focus on deploying the stronger capital base to deepen insurance coverage, improve claims settlement and provide the long-term risk protection needed to support economic growth. “The process…...