Insurance

Leadway Assurance Pays N23bn Claims, Picks New Directors

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — Leadway Assurance said its assets grew from N137.3billion 2015 to N166 billion in 2016 while Gross Premium Income also rose by 13 per cent from N46.6 billion in 2015 to N52.7 billion in 2016, an increase largely attributable to annuity business. The company at its 45th annual general meeting in Lagos also reaffirmed ...

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Wapic Insurance Shareholders Approve N10bn Regulatory Capital

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – Shareholders of Wapic Insurance have unanimously approved the company’s plan to raise additional capital in the sum of N10 billion only, or its equivalent in any foreign currency in line with the increase in capital requirement for the insurance industry. At the company’s 58th annual general meeting held in Lagos last week, the ...

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Consolidated Hallmark Insurance Seeks N2.5bn Fresh Capital

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – Consolidated Hallmark Insurance PLC is set to raise N2.5 billion additional capital  or its equivalent whether locally or internationally or a combination of both, after its shareholders agreed that the company should go ahead to do so. The N2.5 billion, the company said, would be raised through either private or special, public offerings ...

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Stanbic IBTC To Explore Retail Insurance Industry

LAGOS, (Sundiata Finance) – Stanbic IBTC Insurance Brokers, SIIB, has expressed concern over low insurance penetration in Nigeria and has offered to concentrate effort at retail insurance market to close the gap of uninsured segment of the society. The company said it will leverage on the Stanbic IBTC group which has market capitalisation of about $22 billion to deliver on ...

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