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NAICOM
News and stories about NAICOM
The National Insurance Commission (NAICOM) has mandated the Board of African Alliance Insurance Plc to address and settle all outstanding claims from their customers.
Festus Keyamo, Minister of Aviation and Aerospace Development, has stated that international aircraft lessors and manufacturers require insurance to be sourced from the international market, not locally, before they can bring aircraft into Nigeria on dry-lease terms.
Leadway Assurance Limited has announced the appointment of Gboyega Lesi as its acting Managing Director on January 1, 2024, pending the requisite regulatory approval of the appointment from NAICOM.
Insurance companies generated N729.1 billion in premiums during the first three quarters of 2023, marking a substantial increase of N196 billion compared to the N532.7 billion generated in the corresponding period of 2022.
In the bustling streets of Lagos, a seemingly mundane collision underscored a widespread misunderstanding about third-party motor insurance among Nigerian motorists.
NAICOM and (NITDA) have joined forces to initiate the process of formalizing cyber insurance as stated in a press release by NAICOM in Abuja.
The fundamental idea of insurance is to reduce risks, offer financial security, and encourage investment opportunities. The National Insurance Commission (NAICOM), which oversees the insurance sector in Nigeria, has been doing a lot to ensure that there is growth and development in the industry.
Nigeria’s insurance industry generated the sum of N726.2 billion as gross premium income as of the fourth quarter of 2022.
NAICOM attributed the growth to rising awareness, market expansion and consumer confidence.
NAICOM has urged African governments to join forces to improve insurance industry performance by implementing the necessary policies
The development would enable insurance companies to partner with many banks rather than dealing with only one bank at a time
The insurance firm claimed the regulator acted without due process in the decision to withdraw its operating license