The National Insurance Commission (NAICOM), has signed a memorandum of Understanding MOU) with the Ministry of Youth Development to train 1,000,000 Nigerian youths under a programme tagged, "One Million Youths in Insurance".
The National Insurance Commission (NAICOM) has formed cooperation ties with the Ministry of Marine and Blue Economy to enforce and regulate marine insurance policies.
The National Insurance Commission (NAICOM) has expressed concerns over the impact of inflation on the insurance sector, as rising prices affect both policyholders and insurers.
Prudential has reached an agreement to acquire the remaining shares of Prudential Zenith Life Insurance Limited (PZL), its joint venture business in Nigeria, leading to 100% ownership of the latter.
The Commissioner for Insurance, Mr Olusegun Omosehin, has identified five strategic priorities to transform the industry.
Minority shareholders of insurance companies are asking the board and management of insurers about their readiness for recapitalisation.
The National Insurance Commission (NAICOM) has said that the country's insurance sector has the capacity and professional competence to provide coverage to the aviation sector.
FBS Reinsurance Nigeria (FBS Re) has said that one of its functions is to combat capital flight in insurance and reinsurance businesses in the country and across Africa.
A new Bill has undergone a second reading in the Senate, seeking to increase the minimum capital required of direct insurers by at least 650%.
Continental Reinsurance, a Pan-African reinsurance company, has reported a 228% surge in pre-tax profit to NGN23.51bn ($14.14m) for 2023, rising from NGN7.17bn in 2022. The profit increase was achieved on huge gains in underwriting and investment.