The National Insurance Commission (NAICOM) has outlined the criteria under which dividends on insurance shares would pay to shareholders.
Shareholders have fought the non-payment of dividends by some insurance companies for a long time. The most concerning aspect, in the opinion of the shareholders, is the diversion of what would have been the dividend to pay unwarranted fines.
They even threatened to start the recovery process from their management team; which is by some insurance providers because of their losses.
At an Annual General Meeting (AGM) of an insurance company, the Coordinator Emeritus of the Independent Shareholders Association of Nigeria (ISAN), pleaded with underwriters to work diligently to avoid paying irresponsible fines.