Leadway Assurance, five other insurance firms contributed over N426.36m in Pension N8.50tn assets in 2018

 

The PenCom, Acting Director General, Mrs. Aisha Dahir-Umar

Leadway Assurance Limited, with 287 employees, has contributed and remitted N137.11 million lifted Pension assets grow to N8.50 trillion as at November 2018, according the National Pension Commission (PenCom) in its summary of pension fund assets as at 30 November 2018 and Schedule of Employers Issued with Certificate of Compliance with Provision of the Pension Reform Act (PRA) 2014 as at January 21, 2019.

PenCom further disclosed that six underwriting and 17 brooking firms contributed and remitted over N426.36 million for their employees in 2018.

PenCom also noted that public confidence and acceptability of the Contributory Pension Commission (CPS) has soared and membership has grown to 8.41 million contributors as at December 2018 and a total of 260,808 retirees are receiving monthly pensions regularly.

According to PenCom, insurance operators such as, Leadway Assurance Limited, which has 287 employees, contributed and remitted N137.11 million; AIICO Insurance Plc, Remitted N145.06 million for 259 employees; Linkage Assurance Plc, N50.66 million for 164 employees; Custodian Life Assurance Limited, N19.38 million for 47 employees; Custodian and Allied Insurance Limited, N55.67 million for 125 employees and Guinea Insurance Plc, N24.31 million for 96 employees.

Others are Plum Insurance Brokers Limited, N1.15 million for six employees; Risk Analyst Insurance Brokers Limited, N3.09 million for 15 employees; Colximate Insurance Brokers Limited, N1.36 million for six employees; Favour Insurance Brokers Limited, N1.13 million for nine employees and more.

In the same vein; Goldlink Insurance Plc on Monday announced the sack of its Managing Director, Mrs Funke Moore by the National Insurance Commission (NAICOM) effective from January 18.

Mr Tobi Olaleye, Goldlink Insurance Company Secretary/Legal Adviser, stated this in a letter to the Nigerian Stock Exchange (NSE) and the investing public.

Olaleye said that NAICOM removed Moore and reconstituted a new board for the insurance company.

He said that the commission approved the appointment of Mr Kenneth Egbaran as the new Chief Executive Officer of the insurance firm.

Olaleye said that NAICOM also appointed Nahim Ibraheem as the Chairman of the newly constituted board.

According to him, other members of the new board are; Adeyinka Olutungase, Olarenwaju Suliamon, Tonbofa Eva and Farouk Yola.

The NAICOM took over the management of Goldlink in 2012 and appointed an interim management board for the company in furtherance of its regulatory oversight function.

The commission had last year approved a recapitalisation scheme for the insurance company in a bid to restructure the company and return it to profitability.

The company is yet to take any step in the capital raise process

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