This represents a 27 percent growth compared to N790 billion recorded in 2022, said the National Insurance Commission.
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Stakeholders consider the development as a strategy for upgrading the industry as a market leader in the foreseeable future.
At the last count, the Nigerian Communications Commission (NCC); National Insurance Commission (NAICOM); National Pension Commission (PenCom); Securities & Exchange Commission (SEC); NEM Insurance Plc; Dangote Group and Stanbic IBTC Bank Plc have indicated interest and participation in the anniversary lecture.
The conference by SUPERNEWS has the theme: “Imperative of Fintech in Promoting Financial Inclusion in Nigeria.”
This was contained in a bulletin of the performance of the insurance market released on Tuesday in Lagos State.
Rasaaq Salami, Head, Corporate Communications and Market Development of NAICOM, revealed this in a statement.
This is contained in a statement issued by Rasaaq Salami, Head, Corporate Communications and Market Development of NAICOM in Abuja Tuesday.
He disclosed this at the workshop for MSMEs on insurance for their businesses organised by National Insurance Commission (NAICOM). Sanwo-Olu pointed out that products should be designed to meet the needs and address the peculiarities of MSMEs.
Speaking while receiving the management of NAICOM led by its Commissioner for Insurance and Chief Executive Officer, Olorundare Thomas, who paid him a courtesy visit at the Lagos House, Ikeja on Wednesday, Governor Sanwo-Olu noted that the state has considerably tapped into opportunities available from the Insurance sector, especially for its workforce, pledging to collaborate more.
The Minister of State, Transportation, Gbemisola Saraki, disclosed this during the Annual Retreat of the Nigeria Transportation Commissioners’ Forum, in collaboration with the Federal Ministry of Transportation, tagged, ‘developing and fostering synergy in the management of sustainable transport policies.’
Rasaaq Salami, NAICOM’s Head, Commissioner for Insurance Directorate, told the News Agency of Nigeria in Abuja on Thursday that the commission would await complaints from policyholders arising from the #EndSARS protests.
Adeyemi Abubakar, the Head, Market Development of the commission, said this at a seminar for insurance journalists, organised by NAICOM in Uyo, Akwa Ibom State on Saturday.
Abiodun Aribike, the Deputy Director in charge of Information Technology in NAICOM, said this at a seminar for insurance journalists, with the theme: “Digital Transformation of the Commission and Market Development Initiatives,” on Friday in Uyo, Akwa Ibom State.
Sunday Thomas, the Commissioner for Insurance of NAICOM, made the appeal on Tuesday when he visited Governor Kayode Fayemi of Ekiti State.
The companies, through their lawyer, Ayodele Akintunde (SAN), urged Justice Ahmed Mohammed to issue the order following NAICOM’s decision to go ahead with the process despite the pendency of the matter in court.
Pius Agboola, Director, Policy and Regulations, NAICOM, for the Commissioner of Insurance, said the guidelines were in furtherance to the commission’s earlier circulars referenced: NAICOM/DPR/CIR/25/2019, dated May 20, 2019; July 23, 2019; and December 30, 2019 respectively on the subject matter.
Justice Ahmed Mohammed gave the order after taking the argument of Counsel to the plaintiffs, Ayodele Akintunde (SAN), in a motion ex-parte dated and filed on July 22, marked: FHC/ABJ/CS/ 835/2020 in Abuja.
The National Insurance Commission has granted some regulatory forbearance as part of business continuity measures to ensure availability of insurance services and protection of insurance policy holders during the COVID-19 movement restriction.
The Nigerian Insurers Association on Saturday appealed to its member companies to take advantage of the extension of the recapitalisation deadline recently announced by the National Insurance Commission.
The commission said this was despite claims of some of the operators that they had met the requirements.