NAICOM’s Interactive Session With Shareholders’ Association Of Quoted Insurance Companies In Lagos

National Coordinator, Independent Shareholders Association of Nigeria, Adeniyi Adebisi; Deputy Director, Commissioner’s Office, Directorate, National Insurance Commission (NAICOM), ‘Rasaq Salami; Director, Policy and Regulations, NAICOM, Pius Agboola; Head of Department, Financial Standard and Corporate Governance, Securities and Exchange Commission, Alhassan Suleiman and Investor, Nornah Awoh, during the Interactive session with Shareholders’ Association of quoted Insurance organised by NAICOM in Lagos recently

SEC Takes Financial Literacy Campaign To NAICOM

Photo Caption:  From Left-Director, Market Development Department, Securities and Exchange Commission Mr Edward Okolo, Director, Inspection,  National Insurance Commission Mr Barineka Thompson and Member, Technical Committee on Financial Literacy,  Capital Market Master Plan  Implementation Committee Mr Omagbitse Barrow during a Financial Literacy Technical Committee  Meeting with NAICOM weekend  

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NAICOM Cancels Insurance Industry’s Recapitalisation

The National Insurance Commission has cancelled the Tier Based Solvency Capital recapitalisation of the underwriting sector with immediate effect. The commission gave this notice in a circular to all insurance companies on ‘Withdrawal of circular on Tier Based Solvency Capital policy for insurance companies in Nigeria’, which was signed by the Director, NAICOM, Mr Agboola […]

NAICOM Says Over 80 Percent Of Top Insurers Take Business Offshore

Over 80 percent of big-ticket risks underwritten by Nigerian insurers are exported for offshore underwriting due to inadequate capacity. According to the National Insurance Commission, NAICOM, the top players in Nigeria refused to share most of their businesses with marginal players because of lack of confidence in the ability of the small players to settle […]

Linkage Gets NAICOM’s Approval To Underwrite Agric Insurance

Linkage Assurance Plc has secured the approval of the National Insurance Commission to underwrite agricultural insurance. The firm said in a statement that the ‘no objection’ nod would enable it to support farmers and service providers in the agricultural value chain for greater sustainability and economic growth. Among the products approved were Linkage Assurance Crop […]

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NAICOM Says 41.6 Million Nigerians Excluded From Financial Services

About 41.6million Nigerians are excluded from financial services, including insurance services, the National Insurance Commission (NAICOM) has said. The commission also said 40.1 million who live in the rural areas are excluded from any form of financial services. Commissioner for Insurance/Chief Executive Officer, NAICOM, Mohammed Kari, disclosed this at the ongoing Chief Executive Officers’ retreat […]

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NAICOM redeploys 7 directors, 23 others

National Insurance Commission (NAICOM), has announced a major shakeup in its top management cadre as well as other senior positions. In the reorganization, seven full directors and 23 assistant directors were affected. This development according to Head of Corporate Communications, ‘Razaq ‘Salam was in furtherance of its efforts to reposition the Commission for better service […]

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NAICOM licenses two Takaful companies

The National Insurance Commission (NAICOM) has licensed two Takaful companies to operate while the processing of other applications is on-going, Commissioner for Insurance Mohammed Kari has said. Kari, who stated at this the weekend in his goodwill message at the  inuaguration of the Kano Branch of Jaiz Takaful in Kano State, said Takaful Insurance would […]

NAICOM Plans Sanction On Underwriters Late Accounts Submission

Nigerian insurance firms, whose financial accounts are yet to be summited before March 31, 2017, would be barred from engaging in further business activities, industry regulator, National Insurance Commission (NAICOM), has revealed. The Commission affirmed that it would take action against officials responsible for financial reporting, as well as publish the compliance status of insurance […]