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Insurance

FG Approves N14.8bn Insurance Cover For Workers

Ololade Omosan-Agie The Federal Executive Council presided over by the President, Muhammadu Buhari has approved the disbursement of N9.2bn as premium for insurance companies who will manage group life insurance coverage for federal civil servants. The Minister of Information and Culture, Lai Mohammed, disclosed this on Wednesday at the Presidential …

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NAICOM Activates IFRS Machinery Insurance Contracts

The National Insurance Commission (NAICOM) has activated its machinery as part of efforts towards the launch of the new International Financial Reporting Standard 17 (IFRS 17) for Insurance Contracts scheduled for January next year. The International Accounting Standard Board (IASB) has since May 2017 given a new directive on IFRS …

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Toney Elumelu, Fola Daniel Start Insurance Business

Nigeria’s National Insurance Commission Friday has issued an operational licences to four new insurance firms and one reinsurance company According to the Commissioner for Insurance, Mr Sunday Thomas the new firms are: Heir Insurance Limited (General), chaired by Mr Toney Elumelu; Stanbic IBTC Insurance Limited; Heirs Life Assurance Limited; Enterprise …

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