Sunday, January 20, 2019
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Storeis by Chris Ebong

The National Insurance Commission (NAICOM), the insurance industry regulator in Nigeria has highlighted the factors that impeded the success Market Development and Restructuring Initiative (MDRI) initiated by the Commission to open up the insurance market growth through the enforcement of Compulsory Insurances.

The National Insurance Commission, NAICOM, said it has commenced moves to ensure that insurance operators create the much needed awareness about the industry.
The commission said this development is in realisation of the fact that the level of insurance awareness is still very low in Nigeria even though the insurance operators always pretend to be embarking on awareness campaigns.

Stories by CHRIS EBONG

FBN Insurance Company Limited, has introduced a three-year market development strategy aimed at deepening its share in the retail market space.
According to the company, the key objective of the strategic roadmap is to stabilise and sustain growth through disciplined approach to underwriting and conservative investment strategy which implies the maintenance of a focused approach in the execution of long term strategy while positioning itself to exploit emerging opportunities in the insurance industry.

Pensioners who retired in 2007 under the Contributory Pension Scheme (CPS) said the scheme has turned a woe instead of blessing for some of them.
Their complaint being that the Nigerian Television Authority (NTA) on whose platform they retired after several years of meritorious service to the nation is now seeing them as aliens in its retirees’ books.

AfricInvest Capital Partners (ACP), a leading African private equity funds group, has described the recent acquisition of Mansard Insurance Plc, by the France based AXA Group for approximately 198 million euros as a good investment decision, which demonstrates the viability of the Nigerian business environment.

The Chartered Insurance institute of Nigeria (CIIN) said it will on Wednesday 17th December, 2014 graduate 126 new Associates.
The Graduation and Fellowship award ceremony is slated to take place at 10 Degrees Events Centre in Lagos.
A release signed by Joseph Obah., Director of Corporate Communications of the CIIN and sent to Daily Champion stated that the ceremony will also feature award of examination prizes to deserving students of the Institute and that that three members of the Institute will be conferred with Fellowship of the premier professional institute.

CHRIS EBONG

The National Insurance Commission, NAICOM, said it has commenced moves to ensure that insurance operators create the much needed awareness about the industry.
The commission said this development is in realisation of the fact that the level of insurance awareness is still very low in Nigeria even though the insurance operators always pretend to be embarking on awareness campaigns.

Insurance awareness receives a boost as the reigning Miss Insurance, Funmilola Ogunshola, in her final lap of two months intensive insurance campaigns to secondary school students in Lagos state.
Miss Ogunshola has just concluded her two-month long project for secondary school students tagged ‘Teens for Insurance.’
The project aimed at sensitizing the younger generation on the needs and benefits of insurance, kicked off with an online essay competition titled: “The Significant role of Insurance to the development of an Economy”, of which Miss Deborah Faboyede was announced winner, with the cash prize of N250,000.

Ugo Amadi with agency report

French based multinational oil group, Total, has unveiled its $9 billion oil storage, production and offloading unit (FPSO) for the CLOV project (Cravo, Lirio, Orquidea and Violeta) in Angola, Africa’s largest oil producing country.
CLOV went into production in July and has 34 undersea wells with maximum production capacity of 160,000 barrels of oil daily. The project covers an area of 380 square kilometres and holds an estimated reserves of 505 million barrels of oil and a 20-year life span.

Stories by Ugo Amadi

The  Department of Petroleum Resources (DPR), has been called to compel oil and gas companies to provide Standard of Operating Procedure (SOP) for their staff as part of the measures to eliminate industrial hazards in the oil and gas industry.
Mrs Diezani Alison-Madueke, Minister of Petroleum Resources, made this call  this in Lagos at the just concluded 16th International Health Safety and Environment Biennial Conference on the oil and gas industry with the theme: “Innovative Approach Towards Emerging Safety Challenges.”

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