Post Assurance Brokers gets prestigious ISO certification

Post Assurance Brokers

Post Assurance Brokers gets prestigious ISO certification   Post Assurance Brokers Limited has achieved International Standard Organisation 9001:2015 certification. A statement from the company titled ‘Post Assurance Brokers gets prestigious ISO 9001:2015 certification’, said the certification came after a thorough and transparent audit process carried out by DNV-GL, an international certifying body with headquarters in Norway. According to the firm, the ISO 9000 family is the world’s most best-known quality management standard for companies and organisations of any size. The company noted that the ISO 9001:2015 specified requirements for a…

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Stanbic IBTC launches own insurance subsidiary

Stanbic IBTC launches own insurance subsidiary

Stanbic IBTC launches own insurance subsidiary   Stanbic IBTC Holding Plc., a member of Standard Bank Group has expanded the scope of its operation in the financial services industry with the launch wholly-owned insurance subsidiary focusing on life insurance. This came following approval and license issuance by the National Insurance Commission (NAICOM) which granted the new insurance group the right to commence business operations. Akinjide Orimolade, chief executive, Stanbic IBTC Insurance, while speaking at the launch of the business stated that the new insurance provider will continue in line with…

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Shareholders of Custodian Investment to share N2.65bn as dividend

Custodian Investment

Shareholders of Custodian Investment to share N2.65bn as dividend     The Board of Directors of Custodian Investment Plc has announced the payment of a final dividend of 45 kobo for every share of 50 kobo held by shareholders, a filling by the company at the Nigerian Stock Exchange (NSE) stated on Monday. With its share outstanding at 5,881,864,195, the investment holding company with interest in life insurance, general insurance, pensions, trustees, property and financial service will be paying a sum of N2.65 billion as total dividend for the year…

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LASACO Assurance successfully reconstructs 7.3bn ordinary shares

LASACO Assurance successfully reconstructs 7.3bn ordinary shares

LASACO Assurance successfully reconstructs 7.3bn ordinary shares   LASACO Assurance Plc has announced the completion of its share reconstruction exercise of about 7.3 billion ordinary shares. The Nigerian Stock Exchange (NSE) disclosed this through the weekly trading report at the bourse obtained on Sunday by Business Metrics. LASACO Assurance Plc had earlier informed the market that it had obtained regulatory approval to reconstruct 7,334,343,421 ordinary shares of 50 kobo each at N0.42 per share in the ratio one (1) new ordinary shares for every four (4) ordinary shares previously held by…

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AXA Mansard emerges Best Health Insurance Product Winner 2021

AXA Mansard Health Insurance

AXA Mansard emerges Best Health Insurance Product Winner 2021     Health Management Organization, AXA Mansard Health Limited, recently announced that it has emerged as the winner of the best health insurance product of the year in the Insurance Product & Process section of the just concluded 11th Annual Global Banking and Finance Awards 2021. The winning product was the AXA Platinum Plus Cover which has been specially designed to provide a world class health cover for the insurer’s customers. With access to roam over 1,700 hospitals locally, care in India, UAE and South African…

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Insurance sector contracted by 12.05% in Q4 – NBS

Insurance sector

Insurance sector contracted by 12.05% in Q4 – NBS   The insurance sector contracted by 12.05 per cent in the fourth quarter of 2020, latest figures from the National Bureau of Statistics have revealed. Figures obtained from the NBS on the industry’s performance also revealed that the insurance sector accounted for 8.6 per cent of the entire financial sector in the period under review. Part of the report read, “The finance and insurance sector consists of the two subsectors, financial institutions and insurance, which accounted for 91.40 per cent and…

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African Alliance settles N967m claims in 40 days

African Alliance

African Alliance settles N967m claims in 40 days     Foremost life insurer, African Alliance Insurance, has fulfilled obligations to its teeming customers with the payment of claims in excess of N967 million in the first 40 days of the 2021 business year. This was revealed in a statement obtained from the firm’s Brand, Media and Communications Manager, Bankole Banjo. Joyce Ojemudia, in the statement, the managing director/chief executive officer of the 61-year-old insurer, restated the firm’s claims commitment to its policyholders. She said: “For us at African Alliance, we…

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Linkage Assurance to pay $300,000 for three casualties of crashed helicopter

Linkage Assurance

Pays N375m claims to owner of helicopter   Linkage Assurance Plc said it paid N375 millio hall insurance claim for the helicopter operated by Quorom Aviation that crashed in Opebi area of Lagos State in 2020. In a statement on Sunday titled ‘Linkage Assurance attributes growth success to strong partnership with brokers’, it disclosed this during the general meeting of the Nigerian Council of Registered Insurance Brokers Lagos Area Council, hosted by Linkage in Lagos. The statement said, “Linkage insured 100 per cent of the helicopter that crashed last year…

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Earnings Forecast: Linkage Assurance targets N291.09m profit in Q1

Linkage Assurance targets N291.09m profit in Q1

Earnings Forecast: Linkage Assurance targets N291.09m profit in Q1 Expects N4.92bn gross premium   Linkage Assurance Plc has projected to make N291.08 million as its profit after tax (PAT) for the first quarter of 2021, while it expects N4.92 billion gross premium written for the period. In its Q1 earning forecast filed on Nigerian Stock Exchange (NSE), the insurance firm also projected N291.09 m as profit after tax and N415.85 million as profit before tax for the period. For the fourth quarter ended December 31, 2019, the underwriting firm’s unaudited…

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NSE admits 4.36bn Ordinary Shares of AIICO Insurance

NSE admits 4.36bn Ordinary Shares of AIICO Insurance About 4.36 billion ordinary shares of AIICO Insurance Plc were listed on the daily official list of the Nigerian Stock Exchange, according a report obtained from the NSE at the weekend. The additional shares listed arose from the company’s Rights Issue of 4.36 billion ordinary shares of 50 kobo each at 80 Kobo per share on the basis of five new ordinary shares for every 13 ordinary shares held as at Monday, June 15, 2020. The Rights Issue was 100 per cent…

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