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10th-year anniversary - 2005

News

Insurance Community Forum

Read what people are saying about Insurance!  Our new interactive MESSAGE BOARD has been setup on FreeServers.  The board include insurance-related topics ranging from Underwriting, Broking, Regulatory, Professionalism through consumer issues.  Click HERE to visit the forum now!  Your registration gives you access to participate in all the topics. If you cannot find a topic of your choice, please email: webmaster@multitradeinsurancebrokers.com for possible inclusion. We are also working on an interactive FAQ. Please let us know if you have any question(s) for inclusion; send your contributions to: info@multitradeinsurancebrokers.com 

 

Abuja - FCT Office:

The Abuja office is now fully functional.  It is located at: Aisa House (1st Floor), Plot 1087 Herbert Macaulay Way, adjacent Spring Bank, Wuse Zone 5. Tel/Fax: 09-5240538; Mobile: 0802-3767721 (George).


Insurance Industry

Barely two years after increasing the capital base of Nigerian insurance companies, the Federal Government on the 5th of September 2005, announced the recapitalization of Insurance and Reinsurance companies as follows:

  • Class
2003 Capital 2007 Capital
  • Life Insurance Companies
N150 million N2 billion
  • General Insurance Companies
N200 million N3 billion
  • Composite Insurance Companies
N350 million  
  • Reinsurance Companies
  N10 billion

 

The exercise came to an end on 28th February 2007, with 76 (life, non-life and reinsurance) companies re-certified for continued insurance operations.  To ensure that the exercise was adequately complied with, NAICOM setup a technical committee to review the various aspects of the process...  A new Commissioner (Daniel) for Insurance has also been appointed ...  More details on NAICOM online... or click here to visit our Insurance Forum

 


World News Headlines

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