Insurance
Insurance Firms Cede 40.7% of Business Abroad in Q1, Retain 59.3% Locally
Insurance companies in Nigeria ceded 40.7% of their business to foreign reinsurers in the first quarter of 2025, retaining an...
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NAICOM to Issue Supplementary Guidelines to Strengthen Annuity Business
The National Insurance Commission (NAICOM) has announced plans to release supplementary guidelines for the annuity business in Nigeria, as part...
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Insurance Operators awaits Presidential Assent on Reform Bill
As Nigeria’s economy navigates through the first half of 2025, stakeholders in the insurance sector say their topmost priority is...
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United Capital Plc Sees Record-Breaking Growth in 2024, Doubling Profit After Tax
United Capital Plc (UCAP) has experienced an extraordinary surge in its financial performance, closing 2024 with a remarkable 111.03% increase...
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NAICOM Unveils Five Strategic Priorities to Strengthen Nigeria’s Insurance Industry
The National Insurance Commission (NAICOM) has outlined a strategic plan to enhance the safety, soundness, and competitiveness of Nigeria's insurance...
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Nigeria’s Pension Fund Sees 1.27% Increase in June, Driven by Federal Government Securities
Nigeria’s pension fund appreciated by ₦256.76 billion, or 1.27%, in June 2024, reaching a total of ₦20.48 trillion, up from...
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NSITF Emphasizes Occupational Safety and Health Programs Over Claims Payment
The Nigeria Social Insurance Trust Fund (NSITF) has underscored the importance of its occupational safety and health (OSH) programs, stating...
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Insurance Industry Assets Hit N2.67 Trillion in December 2023, Driven by Oil & Gas and Fire Insurances
The National Insurance Commission (NAICOM) has reported that the total assets of Nigeria's insurance industry reached N2.67 trillion as of...
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Nigeria Aims for 2.1% Insurance Penetration by 2033, Commissioner Reveals at Insurance Directors’ Conference
The Commissioner for Insurance, Mr. Sunday Thomas, has set a target for Nigeria's insurance penetration, projecting a significant increase from...
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NIA, FRSC to enforce motor insurance policy
The Nigerian Insurers Association and the Federal Road Safety Corps are partnering to ensure motorists obtain genuine motor insurance. The...
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