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News
Nigeria targets 10% insurance penetration by 2031 as ISSP launches five-year plan
3+ day, 22+ 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…...
Mutual Benefits drives growth post-recapitalisation, expanding protection across Nigeria
4+ day, 21+ hour ago (369+ words) For more than 30 years, Mutual Benefits Assurance Plc has built its reputation on a simple promise of being there for Nigerians when protection matters most. From safeguarding families and businesses to protecting assets and supporting long-term financial goals, the company…...
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, 3+ 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…...