#naicom

LAGOS – Aiming at strengthening the enforcement of Com­pulsory Insurance poli­cies across the country, the duo of the National Insurance Commission (NAICOM) and the Nigerian Police Force (NPF) have met to restrategise on how best to achievement full penetration. This was on the frontburner of the meeting of the two federal gov­ernment agencies when Mr. Oluse­gun Ayo Omosehin, the Commis­sioner…

NAICOM Approves Sanlam Insurance Underwriting Agric. Business

NAICOM Approves Sanlam Insurance Underwriting Agric. Business Sanlam General Insurance Nigeria Ltd. has secured the approval of the National Insurance Commission (NAICOM) to underwrite agricultural business risks. The Managing Director of the company, Mr Bode Opadokun, said this in a statement on Tuesday in Lagos. Opadokun said the regulator’s approval would further position Sanlam to broaden…

Nigeria’s Insurers’ Balance Sheet Expands 12% to N2.3trn

Nigeria’s Insurers’ Balance Sheet Expands 12% to N2.3trn Nigeria’s insurance industry’s total assets grew to about N2.3 trillion in the second quarter of 2022, indicating an increased growth rate of 11.9 per cent over the first quarter. The National Insurance Commission (NAICOM) made this known on Friday in Lagos in a bulletin on Insurance Market Performance made available by Mr Rasaaq Salami,…

NAICOM donates 150 capacity lecture theatre to Kaduna State University

The newly constructed 150-Capacity Lecture Theatre named ‘NAICOM Building’ jointly sponsored by the National Insurance Commission (NAICOM) and the management of Kaduna State University has been commissioned. Speaking at the commissioning of the project in Kaduna, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olorundare Sunday Thomas, who was represented at the…

NAICOM Moves To Ensure Proper Insurance Cover For Government Assets

NAICOM Moves To Ensure Proper Insurance Cover For Government Assets Yemisi Izuora Insurance industry regulator in Nigeria, the National Insurance Commission (NAICOM) is adopting guidelines that would ensure all Federal Government’s assets are insured. In addition, the move would enhance profitability for the insurance sector. The Deputy Commissioner, Technical, NAICOM, Sabiu Abubakar, stated this…

NAICOM vows to liquidate more distressed insurance companies

NAICOM vows to liquidate more distressed insurance companies The Commissioner, National Insurance Commission, Mr Sunday Thomas, has said more distressed insurance companies may be liquidated. Thomas, who was represented by the Deputy Commissioner, Technical, Sabiu Abubakar, said this while delivering a speech at the directors’ send-forth and journalism award dinner organised by Continental…

Norrenberger Takes Over International Energy Insurance Plc

Norrenberger Takes Over International Energy Insurance Plc Norrenberger, a leading financial service group in Nigeria, has taken over International Energy Insurance Plc, according to a statement released to the regulators with a plan to use technology to revolutionise and reposition the insurance industry. According to the insurer, the decision to take over follows approval obtained from the…