Insurance Archives - Page 2 of 25 - Business Journal

According to the Africa Insurance Pulse, on “The digitization Africa’s Insurance markets”, launched by the Africa Insurance Organisation (AIO), digitization will enhance the appeal and affordability of risk transfer products in Africa. Underwriting and risks management will benefit from improved access to data and analytics. At the same time, technology will help streamline the insurance

Mr. O. S. Thomas Commissioner for Insurance National Insurance Commission (NAICOM) The National Insurance Commission (NAICOM) has signified its intention to digitally transform the insurance in Nigeria via its 24/7 portal in line with growing trends around the world, especially as a fallout of the COVID-19 pandemic on virtual business processes. Mr. O. S. Thomas,

For many years, the reinsurance markets of sub-Saharan Africa (SSA), though small by global standards, have provided global reinsurers with an opportunity for diversification and profitable revenue growth. However, competition and rising acquisition costs have led to a gradual deterioration in the performance of market participants, reducing the attractiveness of the region to potential new

American Financial Group has reached a deal to unload Lloyd’s insurer Neon for an undisclosed price. RiverStone Holdings Lt. is the buyer in a transaction that will acquire from AFG GAI Holding Bermuda and its subsidiaries – the legal entities that own Neon. Plans call for closing the deal in the 2020 fourth quarter, pending

By Tom Sims Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of the world’s top asset managers, for failing to safeguard their investments during the coronavirus market meltdown. Market panic around the virus that resulted in billions in losses earlier this year scarred many

Mr. Babatunde Fajemirokun Managing Director/CEO AIICO Insurance Plc AIICO Insurance Plc has promised to continue to pursue its commitment to deepen insurance penetration, education and awareness in the country. Making the pledge during a breakfast meeting with the new executives of the National Association of Insurance and Pension Correspondents (NAIPCO) in Ikeja, Lagos, at the

Augustine Ebose MD/CEO Anchor Insurance Company Limited Following the effects of coronavirus pandemic on business landscape and the economy, 50 per cent of insurance businesses are now transacted through digital platforms. The Managing Director/CEO, Anchor Insurance Company Limited, Mr. Ebose Augustine, who stated this at the recent inauguration of the new executives of the National

From L-R: Adeyinka Ojora, Director; Alhaji Rufai Mohammed, Director; Sheila Ezeuko, Company Secretary; Hewett Benson, Independent Director and Wale Banmore, Group Managing Director at the 51st AGM of Royal Exchange Plc. Royal Exchange Plc, Nigeria’s premier insurance and financial services group, has announced its results for the 2019 financial year. The company generated a Gross

Mr. Olaotan Soyinka Managing Director/CEO Sovereign Trust Insurance Plc Sovereign Trust Insurance Plc will hold its 25th Annual General Meeting (AGM) on Thursday, October 22, 2020 having been granted approvals for its 2019 Annual Reports and Accounts by the National Insurance Commission (NAICOM) and the Nigerian Stock Exchange (NSE) respectively. However, in line with the

The National Insurance Commission (NAICOM) has initiated collaboration with the Government of Ekiti State to promote the implementation of compulsory insurances in the State and other States of the federation. The presentation by Mr. O. S. Thomas, the Commissioner for Insurance/CEO of NAICOM to the Ekiti State Government is presented below: PRESENTATION BY THE COMMISSIONER

London judges have ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain’s Financial Conduct Authority (FCA) said on Tuesday. The FCA, which brought the test case against eight insurers, said the court had found in favor of policyholders’

Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half. “We are currently examining whether we will offer new contracts that include pandemic protection in property and casualty insurance in the future,” Torsten Jeworrek, Munich

Mr. O. S. Thomas Commissioner for Insurance National Insurance Commission (NAICOM) Following rate improvements in many markets, and particularly in loss-affected segments, Swiss Re expects further rate hardening across all lines of business. At the same time, the reliance on underwriting profits increases in the low interest rate environment. Swiss Re also expects more opportunities

By Carolyn Cohn and Barbara Lewis  Mr. Tope Smart Group Managing Director/CEO NEM Insurance Plc British theaters and live music venues say the show will only go on if the government provides a financial backstop, as the COVID-19 pandemic means they can no longer get commercial insurance. While venues for indoor live performances are not yet open in

Mr. O. S. Thomas Commissioner for Insurance National Insurance Commission (NAICOM) U.S. commercial property/casualty insurance prices rose during the second quarter of 2020 by almost 10% compared with prices charged during the same quarter of 2019. Excess/umbrella and directors’ and officers’ liability data indicated the largest price increases, with prices for both growing by over