Insurance assets grow 11.8% to hit N1.8tn in 6 month

Insurance assets grow 11.8% to hit N1.8tn in 6 month

The Nigerian insurance industry’s assets has recorded upswing by 11.8 per cent from N1.61 trillion at the end of the 2019 financial year to N1.8 trillion in June 2020. The Central Bank of Nigeria (CBN) disclosed this in a report, titled ‘Insurance sector (general and life) consolidated balance sheet’, in June 2020 statistical bulletin. According to the National Insurance Commission, the total assets stood at N1.26 trillion as of the end of 2018 financial period. NAICOM expressed its drive to achieve 40 per cent financial inclusion in the insurance industry.…

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