Category: Top Stories

  As the National Insurance Commission (NAICOM) commences release of underwriters’ recapitalisation plans for public knowledge, indications have emerged that at least  nine firms require a minimum of N44.3billion to meet the new capital threshold to remain in business by July 2020.   Although details of some others are still sketchy, first leg findings by Newsfieldglobal revealed that those put together in this regard would require various amounts totaling N44.3billion to catch up with some of their fellow operators that have either met the requisite recapitalisation benchmark or surpassed it.…

  Verod Capital Management has received regulatory approvals for its acquisition of 100 per cent of the shareholding of Metropolitan Life Insurance Nigeria from South African-based Momentum Metropolitan Holdings. The transaction, for an undisclosed amount, sees Momentum Metropolitan exit the Nigerian market, in line with its articulated Reset and Grow strategy. The insurance sector in Nigeria as a whole is entering a new growth phase, with the recent announcement of increased minimum capital requirements by the industry regulator. This, in addition to various other initiatives being pursued by both regulators…

…as assets under management hit N680bn   Nigeria’s leading Pension Fund Administrator (PFA) Premium Pension Limited, has unveiled a future intensive logo as part of its rebranding plans to remain dominant in the nation’s pension fund management sphere.     This is just as the firm’s assets under management has also doubled from N300 billion to N680 billion in the last 14 years.   Disclosing this in Lagos last week, the Chief Executive Officer (CEO) of the firm, Umar Sanda Mairami, said the new look of the brand was a…