Storeis by Chris Ebong
Of N40.7 billion gross premium income generated by insurance companies in the second quarter of 2014, AIICO Insurance Plc led the top chart with N12.6 billion. Aiico was followed by Leadway Assurance Company Limited with N12.5 billion and Custodian and Allied Insurance Plc occupying third position with N8.6 billion.
Fifty five out of the 59 insurance firms operating in the industry recorded a total premium of N40.7 billion as top 10 insurance firms generated the highest gross premium income in the industry under the reviewed period.
In a bid to ensure that victims of terrorism and kidnapping are adequately covered, a number of local underwriters have approached their foreign counterparts for technical support in insuring risks associated with kidnapping and terrorism.
Influenced by the spate of the menace which has resulted in the killing of many Nigerians, soldiers and policemen alike in the North-East by Boko Haram insurgents; abduction of prominent people is still a major concern in the Niger Delta region, insurers are working out ways of indemnifying the victims or their families when such event occurs.
Three eminent Nigerians and professionals have been named members of the board of directors of the Industrial and General Insurance Plc (IGI). They are Yayale Ahmed, Prof. Oladapo Afolabi, both former heads of service of the federation, and Mr. Ken Aigbinode, a chartered accountant. Their appointment was ratified by shareholders at its recent annual general meeting held on Victoria Island, Lagos.
The stakeholders of the West African Gas Pipeline (WAGP) are currently making arrangements to review the gas supply terms to the four West African countries.
Energy ministers and experts from the four West African countries (Ghana, Nigeria, Benin and Togo) held the emergency meeting to review upwards the tariffs on gas supplied to their respective countries under the WAGP project.
The review, which will cover the period 2015 to 2018, is to help the project recover its operational losses.
In consonance with its Corporate Social Responsibility (CSR) initiatives aimed at offering new lease of life to educational institutions at the bottom of the pyramid, Guinea Insurance (GI) Plc, has donated educational materials ranging from: Note books, Biros, School bags, Note pads, T-shirts and key holders.
Guinea Insurance said in a statement that the second phase of its 2014 CSR initiative tagged “Engaging Tomorrow’s Leaders Today,” had been activated in three primary schools namely: Fadeyi Primary School, Lagos Mainland Local Government (LMLG) Primary School and Onayade Community Primary School, all in Lagos State.
French group, AXA has bought into the Nigerian insurance industry by acquiring 77 per cent of Assur Africa Holding Limited’s (AAH) stake in Mansard Insurance Plc. AAH notified the Nigerian Stock Exchange (NSE) last Friday that it was in the process of transferring the ownership of Mansard to AXA which is said to be the world’s largest insurance company.
Arrangements have been concluded by the Nigerian Communications Commission (NCC) to host the second West African Conference on EMF Exposure and Health next week in Lagos.
Revealing design of the summit, Mr. Tony Ojobo, director, Public Affairs of the commission said the theme of the conference is: “EMF in a Highly Connected Society: understanding the myths and realities” and will provide a platform for policy makers, regulators, legislators, operators, mobile equipment manufacturers, consumer groups and other stakeholders to raise the level of understanding about potential adverse health effects, if any, of mobile communication aimed at establishing a harmonised EMF policy in the West African sub-region.
As part of drive to connect all federal civil servants for efficiency, Galaxy Backbone Limited said that it has created 42,000 email accounts on a unified email platform for federal public servants in collaboration with the Federal Ministry of Communication Technology.
This is in line with one of the key mandates of the Ministry which is to facilitate the deployment of information and communication technologies to drive transparency in governance and improve quality and cost effectiveness of public service delivery.
Registered Insurance Agents of Nigeria (ARIAN) has held its 2014 annual conference and award ceremony.
Speaking at the event held recently at the Nigerian Airforce Centre in Victoria Island, Lagos, the President of the body, Mr Gbadebo Olamerun seized the platform to enumerate his achievement in office in the past 385 days saying that his exco was able to expatiate and redefine the role of insurance agents in Nigeria while adding value, dignity and respect to insurance industry as a whole He noted that for the first time ARIAN was recognized by a state government following the participation by Ondo State government during his investiture as the 3rd president and the induction of new members of the association as well as recognition accorded the group by various arms of insurance industry including the sector’s regulatory body, the National Insurance Commission (NAICOM).
Former Managing Director of Niger Insurance plc Justus Clinton Uranta who retired about two years ago after spending over 30 years in insurance has now pitched his tent in tourism. Uranta is the chairman of the newly established Lekki Miami Beach Resort, a home of comfort located on the beach line area of Lekki in Etiosa Local Government Area.