The Nigerian Insurance Industry chalked up gross written premiums of NGN1.56tn ($1.02bn) in 2024, 56% higher than the NGN1.00tn reported in 2023, according to the Nigerian Insurers Association (NIA).
The National Insurance Commission (NAICOM) has announced plans to introduce additional guidelines to ensure that retirees' funds and annuities remain secure and effectively managed and to boost consumer confidence.
African Reinsurance Corporation (Africa Re) and the United Nations International Children's Emergency Fund (UNICEF) have signed an agreement to support climate change education and the development of green skills.
The National Insurance Commission (NAICOM) has highlighted microinsurance and digital platforms as ways to increase penetration of retirement products, especially in the informal sector.
More than two in five Nigerian women want their employers to provide improved and comprehensive health insurance that covers fertility treatments, breast cancer care, and menopause support, according to a report released by Healthtracka, a digital health platform. The report says that 43.4% of working women across various industries and regions expressed this need in a nationwide survey.
Pan-African insurance group, SUNU Group, and the international microfinance group Advans have announced that SUNU Assurances Vie Cameroun has acquired a stake in Advans Cameroun.
Concerns have surfaced over the potential adverse impact on insurance companies if certain provisions of the proposed Tax Reform Bill are left unaddressed, according to a commentary.
Dubai-based EIRS (ETG Insurance Risk Solutions) Network has announced that Epicure Insurance Brokers, a leading licensed insurance broker based in Lagos, has joined as its exclusive member in Nigeria.
The Nigerian Insurance Reform Bill, currently waiting for the president's assent, will create a compensation fund for victims of bankrupt insurance companies and a fund for uninsured road accident victims.
The National Insurance Commission (NAICOM) has said that technology must be used to deepen rural insurance penetration across Nigeria.