Fidelity bank banner Bayelsa State banner
NAICOM queries 2 insurance firms

By News Express on 07/07/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 614


The National Insurance Commission (NAICOM) says it has approved 39 out of 49 insurance companies during the 2016 financial reports submitted to it.

The Commission's Head of Corporate Affairs, Mr Rasaaq Salami said in a statement on Thursday in Abuja that reports of two companies - Nigeria Reinsurance Corporation and KBL Insurance Limited - were queried, while eight were undergoing review.

He listed the companies with its reports under review to include Guinea Insurance, African Alliance Insurance, Nigeria Agriculture Insurance Cooperation, Equity Assurance and Capital Express Insurance

Others are: Universal Insurance, Saham Unitrust Insurance and UNIC Insurance Plc.

Salami, however, said FBN Insurance, Wapic Life, Ensure Insurance, Continental Reinsurance, Zenith General Insurance, Zenith Life assurance and Consolidated Hallmark, Custodian and Allied and Custodian Life Insurance financial reports were approved.

Others with financial reports approved included Law Union and Rock, Wapic General, AIICO Insurance, AXA Mansard, Prestige Assurance, Nem Insurance Plc, Regency Insurance Plc, Lasaco Assurance, UnityKapital Assurance,Cornerstone Insurance and Fin Insurance Plc.

He said the financial reports of Royal Exchange General, Leadway Assurance Plc, Old Mutual Life Insurance, Staco Assurance, Royal Prudential Life and Mutual Benefit Life assurance Plc companies and ARM Life were also approved.

According to him, the Commission also approved the financial statements of Sovereign Trust Insurance, NSIA Insurance, Standard Alliance Life Assurance, Linkage Assurance, Sterling Assurance, Anchor and Standard Alliance General Insurance.

NAICOM is the apex body established to regulate and supervise the Nigerian insurance sector.

The commission’s regulation requires insurance firms to submit their financial statements on or before March 31.

The Insurance Act imposes a daily fine of N5,000 on firms that fail to meet the March 31 deadline for the submission of their accounts. (NAN)

Source News Express

Posted 07/07/2017 12:35:16 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Election Violence: Ohanaeze youths warn northern governors

Breaking: Military battles Boko Haram invaders in Gombe...

World Cup 2018: Russia thrash Saudi Arabia 5-0...

Nigeria’s foreign reserves rise to $32.16bn

Ford Motor chief quits after probe into inappropriate...

Israel, ECOWAS seal $1 billion solar deal

COUNTDOWN TO SOUTH AFRICA 2013: Keshi invites 24...

Unemployment: FG places restriction on visa issuance to...

Osun lawmakers converge on Osogbo Aug. 10

BLOODY DEMOCRACY: 101,500 killed extra-judicially since 1999 (9,700...

Shell rakes in $425 million cash from assets...

Ex-minister’s bank account balance shocks kidnappers

 

Latest News Godswill Akpabio’s defection to APC shocked and confused me — Elder brother, Isong Akpabio •Says defection cannot make APC win Akwa Ibom FG close to breakthrough on Leah Sharibu’s release — Presidency •Clears air on Daura’s status Woman pushes friend off bridge NYSC releases names of 9 drowned corps members Why 2019 elections will be Nigeria’s most expensive — INEC MASSOB drops threat to disrupt conferment of chieftaincy title on Ganduje Whistleblower: 5,000 tips received, N11bn recovered — Adeosun Naturalised Americans in danger of losing citizenship as Federal officials review thousands of cases Chinese firm to invest in Nigeria’s digital economy, education Demolition Notice: Ayefele’s house contravenes planning laws — Oyo Govt Cash economy fuelling Boko Haram activities: UN report 2019 Elections: Buhari fully committed to use of PVC, Card Reader — Presidency

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (377,326 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (366,418 views) Shameless Genevieve Nnaji exposes breasts in public (296,095 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (241,714 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (222,449 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,008 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (192,427 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (174,615 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,550 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,156 views) Lagos plane crash: Journalist releases victims’ names (152,614 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (142,930 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,452) Business Verdict (48) Columnists (909) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (527) Features (633) Global Business Monitor (294) International (2,274) Interview (161) Live Commentary (28) Love Matters (134) News (38,048) Opinion (1,057) Pidgin (11) Politics (6,054) Religion (816) Sports (1,646) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Liverpool Destroying West Ham 4-0 - Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement