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News
NAICOM: Insurance Sector Raised Additional N1.079tn During Recapitalisation Exercise
7+ hour, 16+ min ago (562+ words) The National Insurance Commission (NAICOM), has said that the insurance sector raised a total of N1.079 trillion during the recently concluded recapitalisation exercise. The Commissioner for Insurance, Mr Ayo Omosehin, stated this while giving an update of the recapitalisation exercise in…...
Recapitalisation: I prayed in church that no insurance company licence should be cancelled – Omosehin
13+ hour, 37+ min ago (295+ words) The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Olusegun Ayo Omosehin, has stated that he offered personal prayers in church to prevent the revocation of any insurance operator’s licence during the industry recapitalisation exercise....
Nigeria: New collaboration aims to improve aviation insurance regulation
3+ day, 22+ hour ago (366+ words) National Insurance Commission (NAICOM) and the Nigeria Civil Aviation Authority (NCAA) have collaborated to advance the coordination of framework for regulatory compliance in the aviation sector in Nigeria. “This occasion represents not only the strengthening of institutional cooperation, but also…...
NAICOM, NCAA Sign MoU to Tighten Aviation Insurance Oversight
4+ day, 1+ hour ago (416+ words) streamlinefeed.co.ke The National Insurance Commission and the Nigeria Civil Aviation Authority signed a memorandum of understanding on Wednesday, September 9, at the NCAA headquarters in Abuja, tightening oversight of aviation insurance compliance and establishing a Joint Technical Committee on…...
Nigeria targets 10% insurance penetration by 2031 as ISSP launches five-year plan
4+ day, 17+ 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
5+ day, 16+ 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…...
NICON Rejects NAICOM Licence Revocation, Insists It Remains A Going Concern As Legal Battle Looms
5+ day, 23+ hour ago (857+ words) NICON rejects NAICOM’s licence revocation, calls recapitalisation exercise “fake and fraudulent” and says the dispute is before court. National Insurance Commission (NAICOM) has revoked the operating licenceof NICON Insurance Limited and appointed a Receiver/Provisional Liquidator to take control of…...
NICON INSURANCE We are in Business: NAICOM The Insurance Regulator is under EFCC for Fruaudulent Recapitalisation
6+ day, 4+ hour ago (18+ words) Ondo Events...
Nigeria’s biggest insurance firm, NICON, loses licence – What it means for policyholders, creditors, other stakeholders
6+ day, 3+ hour ago (491+ words) The National Insurance Commission, NAICOM, Nigeria’s insurance regulatory body, has revoked the operational licence of the National Insurance Corporation of Nigeria, NICON. NICON, Nigeria’s biggest insurance company, was established in 1969 by Decree 2 and owned by the federal government. NAICOM revoked…...
NAICOM Revokes NICON Insurance Licence, Appoints Receiver
6+ day, 12+ hour ago (592+ words) The National Insurance Commission (NAICOM) has revoked the operating licence of NICON Insurance Limited, bringing to an end the operations of one of Nigeria’s oldest and historically significant insurance companies. The regulatory action followed the company’s failure to satisfy prescribed…...