Tags: NAICOM

NA1COM Approves Leadway Assurance Limited & 7 Insurance Firms in Annuity Business  

AdvertisementThe National Insurance Commission (NAICOM) as a regulatory body of all insurance firms has approved 8(eight) insurance firms to operate in Annuity Business going forward.  Those firms are; Leadway Assurance Limited, Custodian Life Limited, FBNInsurance Limited, Cornerstone Insurance Plc, ARM Life, AXA Mansard Insurance Plc, Standard Alliance Insurance Plc and Niger Insurance Plc. This action…

NAICOM, PENCOM Sets To Issue New Rules On Annuity Operations

Commissioner for Insurance, Mohammed Kari Advertisement Both National Insurance Commission (NAICOM )and National Pension Commission (PenCom) are set to release the new modalities that they have being puting together documents of harmonization of pension and insurance regulatory operations over the months will regulate the provision of life annuity for retirees under the Contributory Pension Scheme. Amehnews recall…

N140bn annuity fund: Adeosun Directs both PenCom, NAICOM to issue a joint circular

Minister for Finance, Kemi Adeosun The Minister of Finance, Mrs. Kemi Adeosun, has brokered a resolution of the dispute between the National Pension Commission and the National Insurance Commission over a circular issued by PenCom directing life insurance companies to transfer their annuity asset holdings to Pension Fund Custodians (PFCs). The intervention of the minister…

NAICOM plans to introduces electronic accounts submission in Insurance industry 2017

The late submission of annualy accounts by insurance firms will be improves in this year through early preparations and electronic submission by all firms.  The National Insurance Commission (NAICOM), has disclosed plans for the commencement of transition to electronic submission of accounts by insurance companies this year 2017. The Commission while disclosing this noted that…

Much I Do About Compulsory Insurance Products & Its Low Patronage

The National Insurance Commission, NAICOM, in 2010 came up with the Market Development and Restructuring Initiative, MDRI, as part of efforts to boost insurance penetration in the country. Part of the objectives of the MDRI is to enforce the compulsory insurance under the Insurance Act of 2003. But so far, greater number of the general…