Fidelity bank banner UBA banner
NIA commends FG on proposal to insure national assets

By News Express on 25/07/2017

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

Views: 646

•NIA Chairman Eddie Efekoha.
•NIA Chairman Eddie Efekoha.

The Chairman, Nigeria Insurers Association (NIA), Mr Eddie Efekoha, on Monday commended the Federal Government over its plan to insure national assets.

Efekoha told the News Agency of Nigeria (NAN) in Lagos that the measure showed that the Federal Government recognises the role of the industry in the economic development of the nation.

The Minister of Finance, Mrs Kemi Adeosun, had at the 2017 National Insurance Conference (NIC) held in Abuja recently said the Federal Government would insure all its assets to attract foreign investors.

Efokoha urged the Federal Government to play its part by redeeming the promise and paying the N8.4 billion premium backlogs.

He said that the payment of the N8.4 billion premium backlogs would change the wrong perception Nigerians had about insurance.

“Moreover, the fund can provide finance for our long term economic growth for the country’s recovery.”

Efokoha explained that the industry was making progress as its Gross Premium Written (GPW) had hit N350 billion in 2015.

He, however, said the industry could record better performance if the government fulfilled its promise.

Efokoha said the introduction of insurance products in growing mortgage and housing sector would spur the industry to record geometrical progress.

“NIA efficiently played its part at mitigating the impact of recession on Nigerians with insurance policies through prompt payments of claims.

“NIA also ensured that the insurance market was expanded beyond the upper class and formally employed market.

“The industry has reached out to the middle and lower income classes and the distribution channels became more innovative, considering product features, cost, proximity and other relevant factors.”

He commended the National Insurance Commission (NAICOM) for its efforts at repositioning the industry, adding that stronger ties with service providers would promote the industry.

“Technology is taking over the world, payment system is changing with trends, we practitioners have talked so much about deepening insurance penetration.

“Insurance penetration cannot be deepened without employing technology to fast track insurance deliveries,” Efokoha said. (NAN)

 

Source News Express

Posted 25/07/2017 1:40:18 PM

 

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


 

CLASSIFIED ADS

 

You may also like...
HURIWA endorses extension of emergency rule in North-East...

Group asks EFCC to investigate National Hajj Commission...

Saraki urges Ooni-elect to work for national unity...

Death toll in Kaduna attacks rises to 25...

Anambra governorship: My defeat of Ngige, Nwoye, a...

Don’t allow destroyers of Nigeria to pose as...

2019: Fayose declares for presidency, says Buhari has...

France to help Nigeria fight terrorism

2013 AFCON Day 11: YES, IT’S IVORY COAST...

Shock, gloom as tipper crushes 11 bus passengers...

Biafran activists protest in Rivers over detention of...

Fuel price increase inevitable: FG

 

Latest News World Igbo Congress endorses Atiku/Peter Obi ticket •Says Obi a miracle worker Boko Haram may soon kill Leah Sharibu, health workers — Red Cross EFCC operatives trail Fayose Travel ban: We have not released any list — Presidency Forget 2019 Presidency, Save Lagos Group tells Buhari Wike declares support for Atiku 2019: PDP South East caucus, MASSOB okay Atiku/Obi ticket Falana to Buhari: Withdraw travel ban on 50 Nigerians ‘without any delay’ INEC under pressure to return Zakari to operations Amnesty office dismisses reports, says not owing graduands under scholarship at Benson Idahosa University Over 15 cultists denounce membership in Enugu Aba fuel explosion: Tension over fresh pipeline leakage

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (406,302 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,038 views) Shameless Genevieve Nnaji exposes breasts in public (314,397 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (256,197 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,117 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,142 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (203,868 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,358 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (169,869 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,747 views) Lagos plane crash: Journalist releases victims’ names (161,305 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,148 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,679) Business Verdict (52) Columnists (945) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (558) Features (658) Global Business Monitor (304) International (2,529) Interview (165) Live Commentary (28) Love Matters (145) News (39,613) Opinion (1,122) Pidgin (13) Politics (7,210) Religion (880) Sports (1,730) Stock Watch (35) AMA & Al Jazeera Global Update

 

Zenith Zero Balance

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Fulham vs Arsenal 1-5 All Goals & Extended Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement