Law Union and Rock Insurance Plc, one of the top Underwriting Firms in Nigeria has assured its investing public that its committed to growing its premium income by 50 percent at the end of 2017. The Managing Director/ CEO of the company, Jide Orimolade, gave this assurance during the CEO forum organized by National Association of Insurance and Pension Correspondents (NAIPCO) recently in Lagos, stressing that the company has achieved 17 percent growth out of the 50 percent target it has set for itself in 2017. Orimolade while presenting his company’s score card to Journalist, said that his Organization will leverage on their relationship…
Author: Orientalnews Staff
Allianz Group has expanded its African presence by acquiring 98 percent stake of Nigerian insurer Ensure Insurance Plc from its core shareholder Greenoaks Global Holdings Limited (GGH). Ensure Insurance Plc offers life and non-life insurance services and generated 11 million euros in gross premiums written in 2016. Allianz Group views Africa as one of the important future growth markets and is now present in 17 countries across the region. Nigeria, a fast growing country with a population of more than 180 million citizens, is the country with the largest GDP on the continent. “Nigeria is one of the most dynamic…
The Commissioner for Insurance, Alhaji Mohammed Kari, who made the disclosure in Abuja recently, said that there were three foreign acquisitions in 2014, two in 2015, and five in 2016 while talks to acquire two companies are now in progress. Most of the deals being entered into byforeign investors came in through some form of mergers and acquisitions. Notable among the acquisition was the Great Nigeria Insurance Plc’scompletion of the sale of 75 per cent stake to Insurance Resourcery Consultancy Services Limited (IRCSL). Similarly, an Ivoirien insurer, Sunu Assurances Vie Cote d’Ivoire, earlier in the year, acquired a 60 per…
Yemisi Izuora The recently elected executives of the Guild of Corporate Online Publishers (GOCOP) on Friday visited Nigeria’s seat of power, Aso Rock. The GOCOP team, led by its new President, Dotun Oladipo, was received by the Special Adviser to the President on Media, Mr. Femi Adesina, as well as Mallam Garba Shehu, the Senior Special Assistant on Media and Publicity to the President. Speaking during the visit, Oladipo expressed the Guild’s gratitude to Adesina for honouring its invitation to participate in the recently held First Annual Conference as the Chairman of the event in Lagos. Oladipo also thanked the presidential…
Yemisi Izuora The Nigerian Stock Exchange (NSE) ihas launched a state-of-the art Data Centre on August 28, 2017. The Data Center which was commissioned by the Honourable Minister of Science and Technology, Dr. Ogbonnaya Onu, has been built to Uptime Institute’s TIER III design standards. The Data Centre is consistent with NSE’s tradition of pioneering far-reaching innovations within the Nigerian Capital Market. With this implementation, the NSE can now offer state of the art and secure cloud services to both market operators and any firm interested in having a low-cost, highly available service for their customer base. The Honourable Minister of Science…
Yemisi Izuora British Airways has predicted boom in Nigeria’s aviation industry saying the sector would experience a boom in air travel between this year and next, going by marginal improvement in air travel. According to Country Commercial Manager for British Airways, Mr. Kola Olayinka, Nigeria would also experience increase in passengers going by the huge travel needs, occasioned by situation, which has led to improvement in the economy. He said “Let’s be very honest, as a Nigerian looking at this economy, almost everybody is rationalising. Let’s take it from the family unit. Sometimes I say to the kids ‘you are not…
Yemisi Izuora Oil marketers in the country have raised alarm over plans to embark on mass retrenchment of workers as Federal Government failed to pay their outstanding debts owed on petroleum importation, accrued interest and exchange differential which runs over $2 billion to date. The marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) Independent Petroleum Marketers Association of Nigeria (IPMAN), Depot and Petroleum Products Marketers Association (DAPPMA) and Independent Petroleum Products Importers (IPPIs) This was contained in a joint communiqué issued by the marketers after their joint meeting in Lagos on Tuesday, signed by their legal adviser, Patrick Etim Esq and…
…..Says Nigeria’s Unity Negotiable, Kanu To Drop Biafra Agitation Yemisi Izuora A new wave of agitation for Nigeria’s restructuring filled the air as leaders from southwest joined by prominent elements from south east and south south came out strongly today demanding immediate discussions on the unity of the count. At a well attended meeting which was followed by a press conference the leaders warned about the dire consequences of opposing the agitation. The leaders under the umbrella of “Southern Leaders Of Thought” led by Prof. Ben Nwabuze, at a press conference in Lagos said it has produced a roadmap that…
Hyacinth Chinweuba. The Nigerian Customs, Compliance Team established recently, set to fortify the war against smugglers has raked in a total amount of N1,100,000,000 (One billion, one hundred million naira). National Coordinator of the Compliance Team Zone A, B and C, Comptroller Azarema Ahmed, after visiting the zones on the task ahead, advice that, they should not be found culpable of corruption in compromising their duties, they are expected to discharge their service effectively. The zones, which comprises of Zone A (Western Region) covers six(6) States, Zone B (Northern Region) effectively covers 19 States while Zone C (Eastern Region)…
Yemisi Izuora The Director General of Federal Institute of Industrial Research, Oshodi (FIIRO), Prof (Mrs) Gloria Elemo has said that for innovation to be effective, it has to be simple and it has to be focused. Prof. Elemo who was represented by the Deputy Director, Tecno Enterprises of the FIIRO, Mr. Ogundeji Rasaq Kayode, delivering a key note address at the #WorldstageEconomicSummit2017, themed “‘Transforming Business and Economy Through Innovation’ said innovation must be channeled towards solving one problem, so as not to confuse people. She stated that innovation that creates new users and new markets should be directed toward a specific, clear and carefully designed application. “Effective innovations start small.…