Economy » Insurance

GT Assur Acquired By Offshore Consortium, GTBank Books Gain on Sale

GTBank recently announced its divestment from GT Assur, formerly the insurance subsidiary of the bank, and released the transaction dynamics to the public. The bank has completed the offloading of its 6.8 ...

Recapitalisation: NAICOM moves to stop ‘hot money’

The National Insurance Commission (NAICOM) has adopted measures to ensure that stolen funds are not used to recapitalise bank-owned insurance firms, the Commissioner for insurance, Fola Daniel, has said. Daniel told The Nation ...

Mutual Benefits partners Portland Paints on insurance of assets

Mutual Benefits Assurance Plc and Portland Paints & Products Nigeria Plc has gone into strategic partnership to develop innovative products for the benefits of customers. Through this alliance, for instance, they have ...

Custodian Insurance announces share buy-back

Custodian and Allied Insurance Plc. announced the country’s first share buy-back on Friday, a move expected to be followed by other companies with depressed share prices and flush with cash. Advisors to ...

N200b insurers’ funds trapped in stock market – NIA

About N200billion representing 40 per cent of insurers’ funds are trapped in the capital market, according to the 2010/2011 Annual Reports and Account released by the Nigerian Insurers Association (NIA), the trapped ...

Fola Daniel’s tenure as commisioner for insurance extended

President Jonathan has renewed the tenure of Mr. Fola Daniel as Commissioner for Insurance for another term of four years beginning from August this year. A tested underwriter and administrator with experience ...

BPE Probe: Jimoh Ibrahim forged signature to acquire NICON

Senators were told on Wednesday that NICON Insurance was acquired by Global Fleet Oil and Gas with a signature allegedly forged by NICON Chairman Jimoh Ibrahim. The Senate Committee probing the sale ...

Sovereign Trust Insurance to raise N1.734 billion through right issue

Sovereign Trust Insurance Plc, STI, is seeking to beef up its shareholders fund by N1.734 billion, through the conduct of a rights issue. The company is offering its shareholders ordinary shares of ...

Centralised Database for Insurance Industry Goes Live Soon – NIA

The centralised database system being put in place by the Nigerian Insurers Association (NIA) for the entire insurance industry in the country is scheduled to go live during the current quarter of ...

Micro insurance: Tool to fight poverty ––Expert

An insurance expert has opined that if micro insurance is given its rightful place in the poverty alleviation crusade, it could help in uprooting completely poverty in African societies. Dr Mike Ikupolati, ...