Major News Headlines for 23 August, 2017
Afriglobal unveils new identity, looks beyond Nigeria for business
Afriglobal Insurance Brokers Limited formerly Afribank Insurance Brokers, Mainstreet Insurance Brokers and lately SkyBank Insurance Brokers has unveiled a new identity and vision that would make it a global insurance broker, offering services within and outside Nigeria
Airport certification ‘ill reduce insurance premium – FAAN boss
Certification of the Nigeria’s aerodromes would reduce insurance premium for the airline operators, President, Airport Council International (ACI), Saleh Dunoma, has said. In an interview with journalists, Dumoma said that insurance premium for operators in Nigeria, which ranked amongst the highest in the world, will most likely be reduced.
Read more at: https://dailytimes.ng/news/airport-certification-ill-reduce-insurance-premium-faan-boss/
Building Capacity in Insurance Sector – WAICA Convenes Liberia’s Conference
Monrovia – A four days international conference geared towards building the technical capacity of insurance companies in West Africa, commenced in Monrovia on Monday. The conference is being organized by the West Africa Reinsurance Corporation PLC (WAICA).
Nigeria Re Trains Insurance Professionals
Nigeria Reinsurance Corporation (Nigeria Re) said it has repositioned itself to reawaken public confidence in its operations as hitherto leading reinsurance company in Nigeria through organisation of free training programmes for insurance and reinsurance professionals in Nigeria for capacity building.
The (very near) future of insurance: the digital transformation imperative
One of the world’s most dominant market leaders was virtually wiped out because it simply could not adapt to a changing consumer and business environment.
Insurance providers across the world are facing increasing pressure of costs, the ability to grow revenues and their contact with customers.
NAIC Assures Support for Flood-Affected Farmers with Valid Docs
Yesterday, the Nigerian Agricultural Insurance Corporation (NAIC) assured flood-affected farmers who can present valid documents or proof evidencing their insurance cover of support.
Nigeria’s insurance company to build a Frw5.4 billion hotel
Nigeria’s leading insurance company, Industrial and General Insurance (IGI) is to invest at least $10 million (Frw5.4 billion) to construct a hotel in Kacyiru, Kigali City.
Read more at http://www.newtimes.co.rw/section/article/2008-05-05/3557/
Pensioners threaten mass action over 6 years unpaid benefits
FEDERAL Ministry of Agriculture and Rural Development’s pensioners have threatened mass action over their unpaid pensions and other entitlements for the past six years. This is as the National Pension Commission, PenCom, is fuming over ongoing moves to exclude paramilitary organisations including the police from the Contributory Pension Scheme, CPS.
Read more at: http://www.vanguardngr.com/2017/08/pensioners-threaten-mass-action-6-years-unpaid-benefits/
‘Why 7.5m pension contributors can’t change their PFAs’
There is need to take the biometric of the 7.5 million pension contributors of the Contributory Pension Scheme (CPS) to open transfer windows for them, Executive Director Operations, Crusader Sterling Pensions, Conrad Ifode, has said.
Section 11(2) of the Pension Reform Act, 2014 allows employees to move their Retirement Savings Account (RSA) through a transfer window from one Pension Fund Administrator (PFA) to another, provided that it is not more than once in a year. But this has not been implemented due to multiple registrations and PIN numbers.
Read more at http://thenationonlineng.net/7-5m-pension-contributors-cant-change-pfas/
NNPC raises the alarm over crude fraudsters
The Nigerian National Petroleum Corporation (NNPC), has warned members of the public to avoid treating phantom letters of crude oil allocation as they are from con men who have bilked gullible Nigerians in recent times. Consequently, it said it would soon automate its direct sale purchase scheme to ensure such oil deals were transacted via verifiable online platforms.
Read more at http://sunnewsonline.com/nnpc-raises-the-alarm-over-crude-fraudsters/
Swiss Re AG (SREN) Given Consensus Recommendation of “Hold” by Brokerages
Swiss Re AG (VTX:SREN) has been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the company, MarketBeat Ratingsreports. Three investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is CHF 95.53.
Read more at https://www.tickerreport.com/banking-finance/2845395/swiss-re-ag-sren-given-consensus-recommendation-of-hold-by-brokerages.html