The commission said this was despite claims of some of the operators that they had met the requirements.
Browsing: NAICOM
The National Insurance Commission on Monday announced the recapitalisation of insurance and reinsurance companies in the country.
The National Industrial Court, Abuja has dismissed a suit filed by the National Insurance Commission against the Association of Senior Civil Servants of Nigeria, NAICOM branch, for lacking in merit.
The National Insurance Commission on Friday confirmed the appointment of Edore Egbaran, as the new Managing Director of Goldlink Insurance Plc.
The National Insurance Commission on Saturday cautioned insurance operators against rate cutting in 2019.
The National Insurance Commission on Thursday withdrew the State Insurance Producer, a new insurance distribution channel it newly evolved.
The Deputy Commissioner for Insurance, Technical, Sunday Thomas, made this known in an interview with the News Agency of Nigeria in Lagos.
The NAICOM spokesman, Abdulrasaq Abdulsalami, said in a statement on Thursday in Lagos that the scheme, which was tagged: “National Insurance Commission Newly Launched: Merging Automated”, was a fraud.
The National Insurance Commission on Sunday released conduct of business practices and sanctions for insurance companies under the new Tier-Based Minimum Solvency Capital regime.
Mohammed Kari, Commissioner for Insurance, NAICOM, made the commitment at a seminar for Insurance Correspondents in Abuja.
The National Insurance Commission on Friday confirmed backdating the insurance companies Tier-based recapitalisation commencement date to October 1, as against January 1, 2019 it earlier announced.
The Association of Registered Insurance Agents of Nigeria on Monday urged the National Insurance Commission to extend the Jan. 1, 2019 recapitalisation deadline for insurance firms.
Kari made the call in a statement issued by Rasaq Salami, the Public Relations Officer of NAICOM in Lagos on Thursday.
NAICOM’s spokesman, Rasaaq Salami, said in an interview with the News Agency of Nigeria in Lagos that the takeover became imperative to rescue the company from distress.
Adeosun made the call in Abuja, while inaugurating the boards of four parastatals under the ministry.
Kari made this known at the First 2018 Annual Insurers’ Committee’s Retreat held in Abeokuta, Ogun State on Saturday.
The approved rates for compulsory classes of insurance were announced in a statement by the commission’s Head of Corporate Affairs, Rasaaq Salam, signed by the Acting Director, Authorisation and Policies, Leonard Akah.
According to Salami, Barineke Thompson, the Director Inspectorate, had been redeployed as the Director, Supervision and Pius Agboola, Director Authorisation and Policy, is now the Director, Inspectorate.
Salami said: “Alhaji Adamu Balanti who was hitherto the Director in charge of the Research, Statistics and Information Technology Directorate, moves to the Administration and Human Resources Directorate
He said: “We gave opportunity for re-issuance on the same financial condition and almost everybody on this list was on that list and they did not take the opportunity that time but continued doing business