Business

NAICOM: Simplifying regulation via digital migration

The National Insurance Commission (NAICOM), last week, achieved one of the objectives it listed under the three-year strategic reforms (2021-2023) – the online supervision of insurance sector – a feat that will certainly change dynamics of the sector, ABDULWAHAB ISA reports Insurance sector regulator, the National Insurance Commission (NAICOM), scored another bull’s eye last week […]

Business

NAICOM disburses fund to train 60 actuaries

The National Insurance Commission (NAICOM) on Monday disbursed an undisclosed amount to the College of Insurance and Financial Management (CIFM) to train 60 professionals as Actuaries in the industry. Dr Yeside Oyetayo, Rector CIFM, made the disclosure in Lagos. She described an actuary as a person, who compiles and analyses statistics and uses them to […]

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NAICOM suspends insurance industry recapitalisation

The National Insurance Commission (NAICOM) has complied with court order to suspend the ongoing insurance industry’s recapitalisation. The spokesperson for NAICOM, Rasaaq Salami, said: “You are aware that the issue is in court and there is an interim order of the court. NAICOM been a responsible and law abiding organisation and will respect the order […]

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Bancassurance: NAICOM hails Coronation Insurance, Access Bank

The partnership between frontline underwriting firm, Coronation Insurance Plc and Access Bank Plc on bancassurance has received further commendation from the insurance industry regulator, National Insurance Commission (NAICOM). Speaking at a webinar with the theme, “Managing Risk at a Time of Uncertainty,” the Commissioner for Insurance, Mr. Sunday Thomas, described the partnership as a good […]

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NAICOM warns insurance firms against violating rules

The National Insurance Commission (NAICOM) yesterday warned promoters of the newly licensed insurance firms to play by insurance rules and regulations by sticking to the corporate governance ethics. The commission reiterated its resolve to recall operating licence of any insurance firm that breaches its rules and guidelines. The Commissioner for Insurance, NAICOM, Mr. Sunday Thomas, […]

Business

NAICOM profiles companies with unsettled claims

The National Insurance Commission (NAICOM) is profiling insurance companies with huge unsettled claims for necessary regulatory action, the Commissioner for Insurance, Sunday Thomas, has said. He said this yesterday at the 2020 insurance directors’ conference, organised by NAICOM and the College of Insurance & Financial Management (CIFM) in Lagos. He added that the era of […]

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