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2013 account: NAICOM approves 22 insurance firms

By on July 29, 2014

As of July 25, only 22 firms had submitted and received approval from the National Insurance Commission on their 2013 financial accounts.

The commission, which gave this indication, also threatened to take ‘regulatory actions’ against firms that had yet to submit their accounts.

The firms are Custodian Life Assurance Limited, Custodian & Allied Insurance, Mansard Insurance Plc, FBN Life Assurance Limited, ADIC (NSIA) Insurance Limited, Cornerstone Insurance Plc, Zenith Insurance Company Limited, Wapic Life Assurance Limited, UBA Metropolitan Life Insurance Company Limited, Regency Alliance Insurance Plc, Law Union & Rock Insurance Company Plc, Oasis Insurance Plc, AIICO Insurance Plc, Continental Reinsurance Company Plc, Niger Insurance Plc, Leadway Assurance Plc, Linkage Assurance Plc, Sovereign Trust Insurance Plc, Royal Exchange Insurance Company Limited, and Royal Prudential Life Assurance Plc.

Sixteen others that submitted but yet to get approval are African Alliance, Alliance & General Insurance, Alliance & General Life Assurance, Capital Express Assurance Limited, Goldlink Insurance Plc, Great Nigeria Insurance, Industrial & General Insurance Plc, and International Energy Insurance Plc.

Others are Investment & Allied Insurance Plc, NICON Insurance Limited, Nigerian Agricultural Insurance Corporation, Spring Life Assurance Plc, Staco Insurance Plc, Standard Alliance Insurance Plc, UNIC Insurance Plc, Union Assurance Company Limited and UnityKapital Assurance Plc.