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NAICOM

Kari identifies fragmentation of financial sector as responsible for slow growth in insurance

As insurance companies in Nigeria struggle to improve in their market penetration, chief executive officer of the National Insurance Commission (NAICOM) Alhaji Mohammed Kari has attributed the staunted growth of insurance industry to what he described as a fragmented financial sector.

Insurance Industry: How feasible is the N16trn income by 2020?

The Nigerian insurance industry has been in existence for close to a century, yet, in the past five years, the Gross Written Premium of the industry has hovered between N300 billion and N320 billion, which is evident of the fact that the figures are not growing in the same proportion, if the enormous potential at the disposal of the sector is to be used as benchmark.

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