Major News Headlines for 29 August, 2017

Aug 29, 2017 , , , ,

Nigeria trains Ghana on deposit Insurance

The Nigeria Deposit Insurance Corporation (NDIC) is organising a five-day capacity building programme for senior officials of Ghana Deposit Protection Corporation (GDPC).

In a statement signed by Mr Hadi Birch, Head Communications and Public Affairs, on Monday in Abuja, It said this was part of the NDIC’s efforts to assist member countries in the West African sub region to comprehend the relevance of Deposit Insurance System (DIS).


Insurance started by the arrival of British trading companies in Nigeria, these companies facilitated inter regional trade in the country. These foreign companies therefore needed to deal with some of their risks at a social level so these trading companies were given insurance agency licenses by their authorities abroad and this changed the face of insurance in Nigeria.
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NDIC extends DIS capacity building programme to Ghana

The Nigeria Deposit Insurance Corporation (NDIC) has extended its Deposit Insurance System (DIS) programme to Ghana Deposit Protection Corporation (GDPC).

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Insurance penetration in Nigeria still under 1.0% — Ojumah

Mr. Val Ojumah is the Managing Director of FBN Life Assurance Limited, a member of First Bank Group. In this interview, he reiterates that companies that want to gain market share should lay less emphasis on government business.

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Insurers pay N100m as fraud claims to 5 banks in 2015

Nigeria’s insurance sector paid over N100 million as fraud claims to five banks in 2015. Nigerian Insurers Association (NIA) disclosed this in a report obtained by Financial Vanguard.

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Law Union & Rock Unveils Strategies To Grow Top Line By 50% In 2017

Underwriting Firm, Law Union and Rock Insurance Plc, yesterday assured its investing public that its committed to growing its premium income by 50 percent at the end of 2017.



Egina’s FPSO Sets New Milestones in Nigerian Content

With the completion of the first ever fabrication and integration yard in Nigeria and near completion of local fabrication works, Samsung Heavy Industries has obviously surmounted the odds with the integration of a Floating Production Storage Offloading (FPSOs) facility. Ejiofor Alike reports

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Insurers count cost of Harvey and growing risk from climate change

Houston is facing worsening flooding in the coming days as the storm dumps more rain on the city, swelling rivers to record levels and forcing federal engineers on Monday to release water from reservoirs in an effort to control the rushing currents.

Other major insurers, including Swiss Re, said it is too early to gauge the impact of the storm.

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Pension Liabilities Of 20 States Hit N200bn

20 states out of the 36 states of the federation owe their workers as well as retirees about N200 billion pension liabilities, LEADERSHIP findings have reveal.

This is even as about 28 states have been struggling to adopt the new pension scheme.

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Pension fund investment in govt securities is driven by returns, safety – Leadway Pensions
Mr. David Alao is Acting Asset Manager of Leadway Pensure and a member of the Pension Fund Operators Association of Nigeria (PenOp). In this discourse he maintains that pension funds investment in government securities should be channelled into infrastructure development.

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