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IFRS: NICON, IEI, 7 Others Fail To Meet NAICOM Deadline

rubber stamp with inscription INSURANCE

rubber stamp with inscription INSURANCE

naicom 3

Two months to the end of 2015, National Insurance Commission () said it has approved 44 2014 financial account

The Commission disclosed this through a notice posted on its official website dated 21st October, 2015 that the companies are: Wapic Life Assurance Ltd; Wapic Insurance Plc; Custodian & Allied Ins. Ltd; Custodian Life Assurance Ltd; Law Union & Rock Insurance Company Plc; Mansard Ins PLc; FBN Insurance Ltd; Oasis Insurance Plc; Consolidated Hallmark Insurance ; UBA Metropolitan Life Ins. Company; Zenith Life Assurance Company Ltd and Zenith General Insurance Company Limited.

Others are Royal Exchange Prudential Life Plc; Royal Exchange  General Insurance Ltd; AIICO Insurance Plc; Cornerstone Insurance Plc; Prestige Assurance Plc; Continental Reinsurance ; NSIA Insurance; NEM insurance Plc; Leadway Assurance Plc; Equity Assurance Plc; Unity Kapital Assurance Plc; Lasaco Assurance Plc; Regency Alliance Plc; ARM Life Insurance ; Niger Insurance ; Staco Insurance Plc ; Union Assurance Plc ; Sovereign Trust Insurance Plc ; KBL Insurance Ltd ; Unitrust  Insurance Plc ; Mutual Benefits Assurance Plc; Mutual Benefits Life  Assurance Plc; Linkage Assurance Plc ; Nigerian Reinsurance Corporation; Sterling Assurance Plc;  Anchor Insurance ; Old Mutual Nigeria General Insurance; Old Mutual Life Assurance ; Standard Alliance insurance Plc; Standard Alliance Life Assurance Plc; Capital Express Assurance Ltd and  Nigerian Agricultural Insurance Corporation.

While Guinea Insurance Plc ; African Alliance Insurance Plc ;Industrial and General Insurance (IGI) plc  and Fin Insurance Plc are either  under review or queried and are awaiting response.

The notice also said that International Energy Insurance (IEI) 2013 has been approved and the 2014 is still outstanding, while Unic Insurance Plc  and Nicon Insurance 2013 financial accounts have been queried awaiting response.

The commission further noted that Springlife insurance since 2008 2012 financial accounts are under review by the commission.

 

By Nkechi Naaeche

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