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Insurance firms should leverage new media

The Nigerian insurance industry contributes a ‘whooping’ one per cent to the National GDP. What a contribution from an industry! The insurance gap today is 96 per cent. In other… Read more »

Old Mutual Sells Skandia Units as It Pares European Operations

Old Mutual Plc (OML), Africa’s biggest insurer, is selling its Skandia units in Germany and Austria for 220 million euros ($303 million) in cash. The two businesses, part of the… Read more »

Wapic Insurance Appoints Four New Directors

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Wapic Insurance Plc, Thursday announced the appointment of four (4) directors to its board. In a notice to the Nigerian stock exchange (NSE), Wapic said… Read more »

Oasis Insurance Appoints New Board Chairman

By InvestAdvocate Lagos (INVESTADVOCATE)-Oasis Insurance Plc has notified the Nigerian stock Exchange (NSE) that at the meeting of its Board of Directors held on February 21, 2014. Adenrele Tokunbo Kehinde… Read more »

FBN Life Completes Acquisition of 71.2% Stake of Oasis Insurance

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)- FBN Life Assurance Limited has completed the acquisition of 71.2 percent stake in insurance firm Oasis Insurance Plc. This is contained in an announcement… Read more »

Presidency, police insurance, bank charges to gulp N556m

The Presidency, ministries of Agriculture and Rural Development and Finance, as well as police formations and commands, among others, are to spend the sum of N555.98m on financial expenses such… Read more »

SEC pushes US insurers for details on ‘captives’: WSJ

The U.S. securities regulator has asked life insurers to disclose the potential cost of forcibly winding down in-house insurance units known as ‘captives,’ whose business model has come under regulatory… Read more »

Linkage Assurance Appoints Deputy Managing Director

By InvestAdvocate Lagos (INVESTADVOCATE)-Linkage Assurance Plc Friday announced it has appointed Pius Apere a new Deputy Managing Director (DMD) to replace Aniola Durosinmi who recently resigned from the Company. Education… Read more »

Law Union pays N1.55bn claims

Law Union Insurance Plc says the claims it paid to its policyholders rose by 22.8 per cent from N1.27bn in 2011 to N1.558bn in the 2012 financial period. The Managing… Read more »

17 insurance disputes were resolved in Q1-NAICOM

The National Insurance Commission has said that  its customer complaint bureau resolved a total of 17 disputes involving policyholders and insurance companies in the first quarter of 2012. According to… Read more »