Insurance Archives - Freedom Online

Awele Elumelu calls for increased female leadership in Insurance sector

Freedom Online — Sat, 09 Nov 2024 13:53:12 +0000

At the recently concluded International Conference for Women in Insurance, Dr. Awele V. Elumelu, OFR, Chairperson, Heirs Insurance Brokers (a member of Heirs Insurance Group) and Chairperson Avon HMO, joined other female business leaders in the call for gender parity and more women in leadership in Nigeria’s insurance industry. Held at the Lagos Continental Hotel, […]

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2023: Focus on insurance industry’s 10-year strategic transformation roadmap

Gbemi Banks — Sun, 31 Dec 2023 12:08:46 +0000

The insurance industry in the year 2023 recorded unprecedented success with the launch of its 10-year strategic transformation roadmap to re-sharpen the sector’s landscape, positively. Stakeholders, however, view this development as a strategy for upgrading the industry as a market leader in the foreseeable future. Mr Sunday Thomas, Commissioner for Insurance, who spoke at the […]

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Health Insurance: SOSG signs MoU with NLC, TUC on enrollment

Gbemi Banks — Thu, 28 Dec 2023 03:15:07 +0000

The Sokoto State Contributory Healthcare Management Agency (SOCHEMA), has signed a Memorandum of Understanding (MoU) with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) on enrollment of workers into the scheme. A statement by SOCHEMA public relations officer Hamza Maiturare said the MoU was signed by health commissioner Asabe Balarabe, NLC and TUC […]

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Alleged unpaid salaries, entitlements: Ex-worker files N492m suit against Nicon Insurance

Gbemi Banks — Mon, 11 Dec 2023 10:52:04 +0000

Mr Sunday Akintunde, former Assistant General Manager (AGM), Technical of NICON Insurance Company Limited, has filed a N492 million suit against the company over allegations bordering on backlog of unpaid salaries and other entitlements. Akintunde, in an amended suit marked: NICN/ABJ/264/2023 filed at the National Industrial Court, Abuja, prayed the court to declare that his […]

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NDIC to pay N16.18bn liquidation dividends of 20 failed banks

Gbemi Banks — Fri, 08 Dec 2023 21:42:46 +0000

The Nigeria Deposit Insurance Corporation (NDIC) says it is prepared to conduct 100 per cent liquidation dividend payments worth N16.18 billion for depositors of 20 failed banks. Already the corporation has asked depositors to come forward for verification and payment of their deposits that are in excess of the guaranteed sums, otherwise called “liquidation dividends”. […]

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Insurance coy returns annual badminton competition, as 160 athletes jostle for championship

Gbemi Banks — Fri, 01 Dec 2023 08:52:06 +0000

Mutual Benefits Assurance Plc on Friday said it had returned its Annual Mutual Benefits National Badminton Championship which began on Nov. 29 to last until Dec. 2, after a break forced by the COVID-19 pandemic. Ms Ellen Offo, Head, Corporate Communication, Mutual Benefits Assurance, announced this in a statement made available to newsmen in Lagos. […]

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NDIC bags ICPC’s best ethics, integrity compliance scorecard for MDAs

Gbemi Banks — Sun, 05 Nov 2023 22:22:44 +0000

The Nigeria Deposit Insurance Corporation (NDIC), has bagged the Independent Corrupt Practices and Other Related Offences Commission (ICPC) 2023 Ethics and Integrity Compliance Scorecard (EICS) for Ministries, Department and Agencies (MDAs). Mr Bashir Nuhu, the Director, Communication and Public Affairs Department of NDIC, said this in a statement in Abuja on Sunday. Nuhu said the […]

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NDIC paid N16bn to defunct bank stakeholders’ – Official

Gbemi Banks — Thu, 02 Nov 2023 17:04:36 +0000

The Nigerian Deposit Insurance Corporation (NDIC), said it has paid N16 billion in liquidation dividends to depositors, creditors and shareholders of banks in liquidation in the past 20 years. The Principal Manager, NDIC Kano Zonal Office, Ms Hajara Imam stated this at the 2023 World Savings Day. She said the Corporation earmarked over N16 billion […]

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NSITF unveils measures to operationalize FG’s 8-point agenda on social security

Gbemi Banks — Fri, 27 Oct 2023 08:05:31 +0000

Nigeria Social Insurance Trust Fund (NSITF) has introduced more measures to operationalize the Federal Government’s Eight-Point-Agenda on jobs and social security. Mrs Maureen Allagoa, Director of the NSITF said this while declaring open the New Performance Management System Implementation Workshop on Thursday in Abuja. Allagoa said this in a statement signed by Mr Nwachukwu Godson, […]

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Insurance College pioneer Rector bows out, recounts “tough” journey

Gbemi Banks — Mon, 02 Oct 2023 09:57:18 +0000

Dr Yeside Oyetayo, pioneer Rector of the College of Insurance and Financial Management (CIFM), Lagos, has described her efforts to build the institute from the scratch as “tough, but interesting”. Oyetayo said on Monday that she resumed at CIFM in April 2014 when the college had neither funds nor structures on ground. She explained that […]

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AIICO introduces Flexure to distribute insurance products

Gbemi Banks — Fri, 29 Sep 2023 14:22:47 +0000

AIICO Insurance Plc on Friday says its newly introduced insurance platform, called Flexure, is to ease the distribution of insurance products and services to customers. Mr Olusanjo Shodimu, Chief Digital and Innovation Officer (CDIO), AIICO Insurance, said this on Friday at a training organised for newsmen covering the insurance sector in Lagos. According to him, […]

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Abia LIFE-ND trains beneficiaries on agricultural insurance policy

Gbemi Banks — Fri, 22 Sep 2023 14:50:49 +0000

The Abia project coordinating office of the Livelihood Improvement Family Enterprises for Niger Delta (LIFE-ND), on Friday, trained and sensitized farmers on the importance of insurance cover for their agricultural value chains. The beneficiaries, drawn from the project’s four selected commodities value chain of poultry, oil palm processing and marketing, cassava and rice production, participated […]

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NAICOM names Emir Ado Bayero as insurance royal ambassador

Gbemi Banks — Wed, 20 Sep 2023 13:26:02 +0000

The National Insurance Commission (NAICOM) has named the Emir of Kano, Ado Bayero as the Royal Ambassador for Insurance in the country. This is contained in a statement from NAICOM in Abuja on Wednesday. The honour was given to Bayero when the management of NAICOM led by the Commissioner for Insurance, Mr Sunday Thomas visited […]

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Heirs Insurance Group posts N20bn in revenue for FY2022, cements position as Nigeria’s fastest-growing insurance group

Freedom Reporter — Tue, 05 Sep 2023 15:31:42 +0000

*N2.7bn underwriting profit and N849.4m PBT in FY2022 *N2.6bn claims paid in the period under review Heirs Insurance Group, comprising Heirs General Insurance (HGI) and Heirs Life Assurance (HLA), announced a record-high 226% jump in Gross Written Premium (GWP), from N6.1bn in 2021 to N19.9bn for the financial year ended December 31, 2022. With the […]

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NDIC trains students on financial literacy

Gbemi Banks — Fri, 04 Aug 2023 16:28:43 +0000

The Nigeria Deposit Insurance Corporation (NDIC) has conducted a financial literacy training for secondary school students in Plateau to enhance their monetary decision. NDIC Public Affairs Manager, Mr Alfred Ijah, said that training which took place on Friday in Jos was part of NDIC Corporate Social Responsible (CSR). Ijah said that the exercise was to […]

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