Veritas Kapital sees profit jump above 700% to N301m in Q1’21
Zainab Iwayemi
May 17, 2021
Zainab Iwayemi Veritas Kapital Insurance saw its profit rise by an impressive 732 per cent to N301 million in the first quarter of 2021, against the N37 million recorded for the same period last year. The financial report released to the market and seen by Business A.M. shows that gross premium written and […]
Tangerine Pension in, AXAMansard out, in name change after Verod Capital acquisition
Zainab IwayemiMay 3, 2021
Zainab Iwayemi AXA Mansard Pensions, the retirement savings business of insurance giant, AXA, in Nigeria, has finally given way to Tangerine Pension Limited in a name change that many industry watchers long expected after the latter’s acquisition by Verod Capital through its controlled vehicle, Eustacia Limited. Approval for the change was effected following […]
NEM Insurance welcomes new CFO
Zainab IwayemiApril 28, 2021
Zainab Iwayemi NEM Insurance Plc has appointed Idowu Semowo as the new Chief Financial Officer, CFO to manage the financial action of the firm. This was contained in a corporate disclosure filed at the Nigerian Exchange on Wednesday. The disclosure titled ‘Notification of Appointment of New Chief Financial Officer’ and signed by the Olajumoke […]
AXA Mansard Pension rebrands, changes name to Tangerine Pensions Limited
Zainab IwayemiApril 26, 2021
Zainab Iwayemi AXA Mansard Pensions Limited has announced a rebrand and change of name to Tangerine Pensions Limited after it received approval from the National Pension Commission (PenCom). The name change arose following the acquisition of AXA Mansard Pensions Limited’s equity by Eustacia Limited, a company controlled by Verod Capital Management Limited. Dapo Akisanya, […]
Better days ahead! Insurance firms see big profits amid crises in 2020
Zainab IwayemiApril 12, 2021
· Prestige, Linkage, Consolidated Hallmark swim in high earnings Zainab Iwayemi The Nigerian insurance industry, for the first time in a long while, appears to present a clearer atmosphere, offering stakeholders an opportunity to have a good glance into what experts see as the bright future ahead for insurance in the country. A study […]
Prestige Assurance sees 57% jump in profit to N246 million amid crises year
Zainab IwayemiMarch 31, 2021
Zainab Iwayemi The year 2020, for many businesses, was tough as it saw organizations going on compulsory lockdown as well as employees working from home. Despite this, Prestige Assurance recorded a 57 percent Profit After Tax (PAT) which translates into N246 million profit for the full year 2020. This was contained in its audited […]
Motor insurance payout drops by 6% while personal injury claim rose £12 amid lockdown in 2020
Zainab IwayemiMarch 15, 2021
Zainab Iwayemi A report by the Association of British Insurers (ABI) has shown that Payouts for motor insurance claims declined by 6 percent year-on-year to reach £8.3 billion while personal injury claim heightened in 2020. Also, the number of motor insurance claims settled at 2.1 million also fell by 19 percent compared to the previous year’s […]
Analyst sees NAICOM adopting Tier-based minimum capital structure earlier proposed
Zainab IwayemiNovember 17, 2020
By Zainab Iwayemi As recapitalisation deadline draws near It is less than 60 days left to the big day when Nigerian insurance and reinsurance companies are expected to present at least 50 per cent and 60 per cent of their respective capital bases as prerequisites from the Nigerian Insurance Commission (NAICOM). Consequently, it […]
Coronation Insurance plans fast-tracking claims arising from protest looting, vandalism
Charles AbuedeOctober 28, 2020
Charles Abuede Coronation Insurance Plc has unveiled its claims response platform put in place to ease the challenges experienced by customers and fast-track its response to claims arising from losses encountered by customers from vandalisms and looting activities across the country. Coronation Insurance, formerly Wapic Insurance, in a statement signed by Mary Agha, the […]
Anambra moves for interstate travel insurance
Businessam StaffOctober 7, 2020
Anambra State has instituted an insurance scheme to cover passengers who travel from the state to other states of the federation with a view to ensuring that they are covered against unforeseen road accidents that might happen to them. Afam Mbanefo, the commissioner for transport, said recently in Awka, the state capital, that the launch […]