Real Time Financial News Website
Nigeria’s insurance industry has entered a critical phase of reform as insurers and reinsurers intensify recapitalisation efforts following the expiration of the National Insurance Commission (NAICOM) statutory deposit deadline on…
As Nigeria’s insurance industry races against the clock to meet new capital requirements, foreign investors and local banks are increasingly positioning themselves to acquire majority stakes in insurance companies seeking…
Nigeria’s insurance sector recorded a significant rise in tax contributions in 2025, with 11 major insurance companies paying a combined N15.2 billion in income taxes, more than double the N6.6…
The Nigerian Exchange (NGX) has activated trading codes for the rights issues of Guinea Insurance Plc, Lasaco Assurance Plc, and Sunu Assurances Nigeria Plc, signaling a renewed push by insurance…
The National Insurance Commission (NAICOM) has issued sweeping new guidelines mandating all insurers and reinsurers to contribute to the Insurance Policyholders’ Protection Fund (IPPF), marking a major regulatory shift aimed…
Nigeria’s insurance industry is entering a new phase of stricter regulation as recent tax reforms redefine how companies calculate profits, a move expected to boost government revenue while reshaping competition…
Mutual Benefits Insurance Plc has made a remarkable start to 2026, paying a total of N5.94bn in claims to its policyholders in January alone. The payout underscores the company’s financial…
A proposal to exempt foreign insurance companies from paying taxes on premiums generated in Nigeria has sparked concern among local insurers. Industry players warn that such a move could destabilize…
Fitch Ratings has projected that the investment portfolio mix of life insurance companies will remain largely stable in 2026, supported by strong credit quality and continued reliance on core fixed-income…
Nigeria’s leading credit rating agency, Agusto & Co., has upgraded the ratings of Heirs Insurance Group’s life and general insurance businesses, underscoring the Group’s financial resilience and growing market presence.…
Guinea Insurance Plc has reported strong financial growth for 2024, with Gross Premium Written rising by 35.6 percent to N2.94 billion, up from N2.17 billion in 2023. This milestone was…
The Nigerian Exchange Limited (NGX) has officially restored trading rights to Universal Insurance Plc, following the insurer’s compliance with its regulatory filing requirements. This development ends weeks of suspension that…
Insurance companies across Nigeria are racing against the September 30 deadline to submit their recapitalisation plans to the National Insurance Commission (NAICOM), following the enactment of the Nigeria Insurance Industry…
The Nigerian insurance industry has witnessed an impressive 61% growth as of the third quarter of 2024, as reported by the Nigerian Insurance Association (NIA). Kunle Ahmed, the NIA Chairman,…
Insurance sector operators have been called upon to implement significant reforms aimed at improving the industry’s competitiveness and fostering its growth. During the 40th anniversary celebration of RIMSON in Lagos,…
As technological advancements such as Artificial Intelligence (AI), Big Data, IoT, and Blockchain continue to transform industries, experts in the insurance sector have raised concerns over the diminishing role of…
The National Insurance Commission (NAICOM) has introduced new regulatory requirements for life insurance companies underwriting annuity policies. This move aims to curb mismanagement in the industry and establish best practices…
Guinea Insurance has projected a gross premium written (GPW) of N1.75 billion for the first quarter of 2025, according to its forecast filed with the Nigerian Exchange Limited. The company…
Guinea Insurance has announced a projection of N1.75 billion in gross premium written for the first quarter of 2025. This forecast, submitted to the Nigerian Exchange Limited, also anticipates a…
The National Pension Commission (PenCom) has revealed that over 38,000 employers secured pension and insurance coverage for their workers in 2024. This move aligns with the provisions of the Pension…
Leadway Assurance has reaffirmed its commitment to supporting Small and Medium Enterprises (SMEs) by offering more than risk underwriting, positioning itself as a transformative partner for businesses navigating the challenges…
Capital Express Group has officially unveiled its insurance arm, comprising two rebranded entities: Capital Express Life Assurance Limited and Capital Express Indemnity Insurance Limited. This milestone event, held in Lagos,…
NSIA Insurance Limited has donated furniture and school supplies to Government College, Victoria Island, Lagos, as part of its Corporate Social Responsibility (CSR) efforts. The initiative, which took place on…
Continental Reinsurance, a leading pan-African reinsurance company, has received a B+ financial strength rating and a long-term issuer credit rating of “bbb-” with a stable outlook from AM Best, a…
Three leading Nigerian insurance firms Cornerstone Insurance, AIICO Insurance, and International Energy Insurance have collectively projected a profit before tax (PBT) of N4.98bn for the first quarter of 2025, according…
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have agreed to collaborate to ensure proper insurance coverage for public-private partnership (PPP) projects in Nigeria. During a…
African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its efforts to restore public trust and reposition the company for sustainable growth.…
The Infrastructure Concession Regulatory Commission (ICRC), in collaboration with the National Insurance Commission (NAICOM), will introduce new guidelines in 2025 requiring Public Private Partnership (PPP) concessionaires to procure insurance for…
The finance and insurance sector recorded a 30.83% growth in real GDP in Q3 2024, driven by the Central Bank of Nigeria’s (CBN) aggressive monetary tightening policies. This growth marks…
Coronation Insurance Group has reported a profit before tax of N2.2 billion for the financial year ending December 31, 2023, marking a significant recovery from a loss of N1.8 billion…