premium

The rate of growth of the Nigerian Insurance Sector has been a subject of discourse for several years. It is a fact that  insurance penetration in Nigeria is abysmally low. Contribution to Nigeria’s Gross Domestic Products (GDP) is below 1.0 per cent and Premium Per Capita (Insurance Density) hovers between 5% and 10% as against 40-50% [...]

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The National Insurance Commission (NAICOM) has given Insurance and Reinsurance companies who have board directors with interest in brokerage or loss adjusting firms, either by way of shareholding, directorship or management position to relinquish such position up till November 2012 or be sanctioned. The implication is that those board members who have interest in those [...]

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The Nigerian National Petroleum Corporation (NNPC) is indeed a behemoth. Dare it and be crushed! The National Assembly has at several times carried out probes on the Corporation and in each occasion, the NNPC has come out unhurt!! A Federal Minister of Finance once lost his position for alleging that the NNPC was broke!! Such is the [...]

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The Commissioner For Insurance, Mr Fola Daniel has revealed that the National Commission may be self-financing as from the next fiscal year.This was contained in the  May/June edition of the NAICOM Bulletin This implies that the Commission would no longer depend on government funding for any of its projects or programmes. Also, the Commission generated a [...]

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