All Posts in "Month: March 2021"

By Favour Nnabugwu

No fewer than 23 applications were declined by  National Pension Commission due to inability of the organisations to meet the requirements for issuance of certificates.

This is their inability of the 23 companies to get clearance for getting appropriate pension and insurance covers for their employees in the fourth quarter of 2020.

PenCom its report titled ‘Issuance of pension clearance certificates’

Part of the report read, “The commission received a total of 1,900 applications from private sector organisations for the issuance of pension clearance certificates.

“Out of this number, PCCs were issued to 1,877 organisations while 23 applications were declined due to inability of the organisations to meet the requirements for issuance of certificates

“The records show that a total sum of N9.88bn was remitted into the Retirement Savings Accounts of 41,923 employees of the 1,877 organisations.”

PenCom in its compliance guidelines for life insurance policy for employees and submission of insurance certificate issued to employers stated that companies that had no insurance covers for their workers would no longer be allowed to do any government business.

PenCom’s directive on issuance of certificate of compliance with the provisions of the Pension Reform Act 2014 to the general public, suppliers, contractors or consultants bidding or soliciting for contract or business from any Federal Government ministries, departments and agencies, stated that employers must fully comply with the provisions of the law.

It said, “In that regard, the commission issues annual pension clearance certificate to eligible organisations.

“The MDAs are reminded to ensure that only pension clearance certificates issued by the commission are accepted as evidence of compliance with the Pension Reform Act 2014.”

In the directive, PenCom stated that in accordance with the provisions of Section 4(5) of the 2014 and Section 5.5 of the guidelines for life insurance policy for employees, employers of labour covered by the PRA 2014 were required to submit copies of the insurance certificates with the schedule of benefits to the commission.

Patoma Admin by — March 14, 2021 in Others 0

Agusto & Co. Limited, the pan-African credit rating agency and the foremost business information provider has released its 2021 insurance industry report. The 2021 edition of the annual report provides a comprehensive review of the insurance landscape in Nigeria and the near term expectation for the Industry.

Contained in the report is a review of the coronavirus pandemic, as it affects the Nigeria insurance industry and strategies adopted by insurers to minimise the associated disruptions while optimising the opportunities provided by the pandemic. Agusto & Co. estimates a 15% growth in Gross Premium Income (GPI) for the financial year ended 31 December 2020. Innovation in product distribution induced by the pandemic, regulatory-backed opportunities including the digitisation of marine insurance certificates and increasing awareness of the benefits of insurance products were some of the GPI growth drivers during the 2020 financial year.

According to Agusto & Co., the violence that trailed the #EndSARS protest in October 2020 adversely impacted the Industry in terms of additional claims, which in turn impaired profitability for the 2020 financial year and would moderate the performance of some insurers in 2021. Nonetheless, the riot that trailed the protest emphasised the importance of insurance products, particularly with the absence of a robust social security system in Nigeria.

According to Agusto & Co., the violence/riot that trailed the protest could be a catalyst for insurance uptake, given that the insurance penetration rate has remained less than 1% in Nigeria.

Agusto & Co. expects the on-going recapitalisation exercise to change the structure of the Industry. The persistent naira devaluation has reduced the strength of the Industry’s capital since the last recapitalisation exercise in 2007. Although some insurers have strengthened their capital base through earnings retention, the ability of most Industry operators to solely underwrite large ticket transactions has dwindled based on the lower value of the capital in USD terms. As at 31 December 2020, the Industry had an estimated capital base of $1 billion, significantly lower than $2.2 billion recorded as at 31 December 2007. As a result, the National Insurance Commission (NAICOM), the apex regulator in the Industry, raised the minimum capital to ₦8 billion (from ₦2 billion), ₦10 billion (from ₦3 billion), ₦18 billion (from ₦5 billion) and ₦20 billion (from ₦10 billion) for life insurers, non-life insurers, composite insurers and reinsurance firms respectively. The recapitalisation exercise has suffered some setbacks particularly as the COVID-19 pandemic ravaged the global economy, Nigeria inclusive. Consequently, NAICOM postponed the deadline for the recapitalisation exercise which was later stratified into two phases; December 2020 and September 2021. In addition, litigation by some Industry operators and aggrieved shareholders resulted in the postponement of the December 2020 deadline for the first phase of the recapitalisation exercise.

Notwithstanding the setbacks, Agusto & Co. believes the recapitalisation exercise could be a watershed in the Industry. In addition to the benefits accruing from a larger capital base from a risk underwriting perspective, improved investment management practices will be upheld by a larger investment portfolio driven by a need to generate adequate returns. The recapitalisation exercise has elicited mergers and acquisition transactions in the Industry. Agusto & Co. anticipates an uptick in these transactions as the deadline draws near. The shareholding structure of most insurers is expected to change in the near term as some investors leverage the exercise to either gain or increase exposure to the Industry. With the gradual rebound of the global economy, more foreign investors are expected in the Industry, given that the naira devaluation has reduced the value of insurance companies (in USD terms), despite the undisputed opportunities in the Nigerian insurance industry.

The entry of new players after the embargo that lasted over a decade was a key point in the Industry. In November 2020, six new operators were licenced in the life, non-life and reinsurance segments of the Industry. The firm anticipates the entry of more players, particularly from existing financial institutions seeking opportunities for diversification of income. Agusto & Co. believes that the new players will intensify competition in the Industry. New insurance products and business practices are also expected from these new players.

Agusto & Co. expects a better performance by the Industry in the near term on the opportunities accruing from the pandemic and the #Endsars is optimised. The gradual increase in the prevailing interest rate will also support the investment income of insurers. It is expected that more innovative product distribution channels will be introduced to reduce the dominance of insurance brokers. Notwithstanding, Agusto & Co. believes the insurance brokers will remain strategic to the Nigerian insurance industry given the wholesale focus of the Industry.

Patoma Admin by — March 14, 2021 in Insurance 0

By Favour Nnabugwu

AIICO, NEM Insurance, Consolidate Hallmark, LASACO and Regency have gained a total of N2.29 billion in value last weekend  despite an overall bearish return in the NSE Market.

The five insurance companies which coincidentally are the only insurance companies that recorded positive growth recorded in Thursday March 11, 2021

Inference from the data of the Nigerian Stock Exchange market, indicates that the gains are due to appreciation in the share prices of the five insurance firms, part of which acted as a catalyst to lift the NSE Insurance Index by 0.69 percent as at close of business that Thursday..

AIICO

AIICO Insurance which is the second most capitalized insurance company on the floor of the Nigerian Stock Exchange printed one of the highest gains today, as its share price appreciated by 4.27 percent to close at N1.22.

The increase in the share price acted as a catalyst in the appreciation of the firm’s market capitalization by about N1.033 billion, from N24.19 billion recorded as at close of business on Wednesday to N25.22 billion.

It is also pertinent to note that a total of 19.67 million units of the firm’s shares were traded on Thursday (the highest recorded by the firm since January 4, 2021), indicating a surge of about 179.4 percent when compared to the units traded a day earlier.

NEM Insurance

NEM Insurance Plc share price appreciated by 5.1 percent to close at N1.85 per share. This resulted in an increase in the firm’s market capitalization, from N17.66 billion as at the close of business on Wednesday to N18.56 billion, implying an increase of about N902.97 million for the aforementioned period.

Investors traded about 2.95 million units of the firm’s shares, indicating a surge of about 422.7 percent when compared to the units traded in the previous day.

Consolidated Hallmark Insurance

Consolidated Hallmark Insurance posted the highest increase by any insurance stock on Thursday. It recorded a 7.41 percent increase in its share price which closed at N0.29. The increase trickled down to the market capitalization which added N214.09 million, from N2.89 billion posted a day earlier.

It is worthy to note that a total of 978,670 units of the firm’s shares were traded on Thursday, indicating a decline of 73.95 percent when compared to the units traded previously.

LASACO

LASACO Assurance Plc posted a 3.28 percent increase in its share price which closed at N1.26. The increase played a pivotal role in the advancement of its market capitalization, from N2.24 billion as at the close of business on Wednesday to N2.31 billion, implying an increase of about N73.35 million.

In lieu of this, a total of about 1.16 million units of shares were traded in the bourse, indicating a decline of about 29.8 percent when compared to the units traded a day earlier.

LASACO Assurance Plc had earlier reported the completion of its share reconstruction exercise, involving about 7.3 million ordinary shares. This exercise subsequently raised the initial share price of the firm to about N1.68.

Regency Assurance

Regency Assurance Plc gained about N66.69 million in market capitalization, after its share price appreciated by 3.45 percent to close at N0.30. The firm’s market capitalization as at close of business on Thursday stood at N2 billion.

A total of about 240,667 units of the firm’s shares were traded

Patoma Admin by — March 14, 2021 in Insurance 0
Universal Insurance awaits microinsurance licence from Naicom

By admin

Universal Insurance Plc has mapped out plans to take insurance to the grassroots as the firm eyes microinsurance license to get to launch out.

The Managing Director of the company, Mr Ben Ujoatuonu stated in Lagos that The firm has a lot of activities lined-up for the firm’s 60th anniversary.

He also remarked that the board had granted approval for the firm to have a microinsurance company.

He however stated that the firm had applied for an operational licence for the business and expressed optimism that the request would be approved by the National Insurance Commission (NAICOM

He noted that the company’s board had granted approval for the opening of the branches in Kano, Uyo and a new outlet in Lagos very soon.

Ujoatuonu, who was happy for the feat the company had achieved in the past 60 years, said he is one of the beneficiaries of firm’s education support, stressing that as part of the firm’s Corporate Social Responsibility (CSR), it offered her staff to lecture insurance for free in Enugu State University (ESUT) and Institute of Management and Technology (IMT), Enugu.

According to him, “The endowment, helped in raising many insurance professionals, who are today driving the insurance industry to lofty heights”

He maintained that due to the robust operational processes entrenched by the firm, the COVID-19 lockdown and #EndSARS protest didn’t have much impact on the company’s revenue, which he said stood at 80 per cent in 2020.

He informed that the 80 per cent revenue earned last year was aided by the firm’s robust Information and Communication Technology (ICT) infrastructure, stressing that the company stands amongst the top five in Alexa rating.

He said the firm is presently active on all social media channels, adding that the channels are also leveraged to sell policies to clients.

According to him, “The firm would soon launch its Unstructured Supplementary Service Data (USSD) which will also be used to sell policies to esteemed customers”

He said the firm’s total assets presently stand at N11 billion and shareholders’ fund N9 billion, whilst imploring on brokers and the insuring public to entrust their risks to the firm.

Ujoatuonu posited that the firm has massively invested in retail business, as it is poised to largely deepen that segment of insurance business.

According to him, “The firm had in recent times, evolved and got approval from NAICOM for eight innovative products, stressing that the products are presently doing well in the market.”

He said the products are targeted on specific people especially those at the grassroots and that the means of paying premium have also been designed in a simple form to stem hassles.

“Universal Insurance is growing stronger and it is made up of averagely young people. We have experience of the old and vigour of the young,” he added.

Patoma Admin by — March 13, 2021 in Insurance 0

By admin

Generali’s net profit fell by 34.7 percent in the financial year ended 2020 to €1.74bn, from €2.67bn in 2019.

The results were impacted by a €332m liability management transaction, a contribution to the Extraordinary International Fund for Covid-19 and €287m of investment impairments, mostly in H1.

The group’s operating result was up 0.3 percent to €5.2bn. The impact of Covid-19 was estimated at €123m.

The P&C operating result was up 19.4 percent to €2.46bn in 2020, but down 16.1 percent on the life side to €2.63bn.

Generali’s P&C combined ratio improved 3.5 percentage points to 89.1percent

Group-wide gross written premiums were up 0.5 percent to €70.7bn. They were stable in P&C at €22.15bn.

CEO Philippe Donnet said Generali delivered “excellent results”.

“For the second consecutive year, we have achieved the group’s best ever operating result,” he said.

Adding: “We have entered the final year of our strategic plan and are well positioned to achieve all of the objectives of ‘Generali 2021’. We have defined and implemented a new organisational structure to ensure, not only the success of this plan, but to also prepare for the next strategic cycle.”

Patoma Admin by — March 12, 2021 in Insurance 0

By admin

Universal Insurance Plc journey in the three scores of its existence recalled the relocation of the head office from Enugu to Lagos change the company for good.

The Chairman, Engr. Cyril Umunna Ajagu, while narrating his experience with the company in Lagos stated, “I remember when I first came to invest in Universal Insurance sometime in 2003. It can only be described as a divine arrangement. The Company was going through turbulent times. Workers had not been paid for a very long time and were therefore very disillusioned.

“I came on board and to the glory of Almighty God, we forged ahead. The first decision we took was to reposition the Company from being a regional player to a national player. And this we achieved by relocating the head office from Enugu to Lagos and thus began our progressive journey through thick and thin.

“We grew stronger and during the recapitalization exercise organized by the National Insurance Commission, NAICOM in 2007, we not only recapitalized but we successfully acquired three other insurance companies – African Safety Insurance Company; Oriental Insurance Company and United Trust Assurance Company Limited.
On 14th December, 2007, we became a Public Liability Company and two months later, on the 11th February, 2008, we became listed on the Floor of the Nigerian Stock Exchange. Universal Insurance has since blossomed and we keep moving from strength to strength.

These, he said was only made possible by God. He thanked all those who have in one way or the other contributed and are still contributing to the success story.

Speaking further the managing director/ CEO Ben Ujoatuonu noted that in the past 60 years the company has continued to strengthen and sustain the legacy of the founding fathers.

Accordingly him “for the past 60 years we have been consistently in keeping to our words through creating value and meeting claims of our teeming customers. I assure you that we will Continue and not rest in our plans in satisfying our numerous customers.”

With an asset base of over N11billion and shareholders fund of over N8billion, universal insurance said they are ever ready to satisfy the needs of their customers.

He noted that at 60 the company human capital is a mixture of the experience of the old and vigor of the young to drive the company.

Presently, we have developed a very vibrant agency retail unit with very active agency network across the nation.

He stated that the investment in retail businesses is aimed at deepening insurance penetration in the country and ensure they grow their revenue.

“We have also developed and gotten approval from National Insurance Commission for eight retail products that we are rolling out to the market. Some new ones are also with NAICOM for approval and some new ones are being develop.

“With some of these product, we will begin to partner with our friends, brokers and agents to see how we can work with your network to drive these products to our mutual clients.

“We have also applied for approval for Micro insurance license from the commission which we believe will help us deepen insurance penetration and our revenue. We are indeed very hopeful that we will get the approval and that will also help us to expand in the vision we are driving in that regard.”

On its financials, he said: ” We have consistently grown our revenue in the past five years. In 2020 despite the pandemic and #Endsars protest we grew our revenue by over 80 percent and profit level grew by over 1600 percent

On recapitalization, the universal boss said “Our shareholders and brokers have nothing to fear because we will meet the mark and the universal insurance brand will stand after recapitasation. Presently, we have a paid up capital of over N8billion and by the regulator’s template for capital we have over 80 percent as at now.”

He however stress that serious work is ongoing to ensure that any time the issue of recapitalization comes up we will meet the mark of N10billion.

Speaking on the company’s performance, Sir, Sunny Nwosu, a shareholders’ rights’ activist, lauded the board and management of the company for their ability to sustain and grow the company despite the downturn in the economy.

He urged the company to strategise towards growing the business and improving dividend payment for shareholders.

According to him shareholders will be more happier if dividends are paid regularly.

Moving forward, he said they will be looking at the balance sheet of the company to see how they can advise them to hasten up dividend payment for shareholders.

Also, Mattew Akinlade, President Noble shareholders Solidarity Association (NSSA), applauded the company’s strong presences in the industry in the last 60 years.

According to him, some companies established the same time with universal insurance have all gone under but Universal insurance has proven that it have what it takes to move the industry forward.

Also, Alfred Daudu, CEO, FSL Insurance Brokers Limited noted that the prompt claims payment by Universal insurance has made it the company of choice for most brokers.
According to him, Universal insurance ranks among the company high in claims payment, adding that they paid over N30million as claims to its clients in 2020 despite the negative impact of covid-19.

He assured that they will continue to support universal insurance to deepen insurance penetration in Nigeria.

Patoma Admin by — March 12, 2021 in Insurance 0

By Favour Nnabugwu

The National Pension Commission (PenCom) has given approval for the refund of the sum of N2,789,553.79 to 50 personnel of Military and other Security Agencies’ personnel who were exempted from the Contributory Pension Scheme.

Following the exemption of the military and other Secret Security Agencies’ Personnel from the contributory Pension Scheme (CPS) in 2011, PenCom in 2012, commenced the refund of the employee portion of pension contributions to the personnel who were in service between July 2005 and December, 2011.

However, it has been observed that the some personnel are yet to receive their refunds.

The commission working in conjunction with the military Pension Board is desirous of bringing the refund exercise to close by 30 June, 2019.

Accordingly, all military Personnel who were in service between January, 2005 and December, 2011, but are yet to receive a refund of their employee portion of the pension Contributions, are required to contact the military pension Board or any Military Formations close to them to complete the “Request for Refund of pension Contribution Form”

The Commission received a total of 1,900 applications from private sector organisations for the issuance of Pension Clearance Certificates (PCCs).

Out of this number, PCCs were issued to 1,877 organisations while 23 applications were declined due to inability of the organisations to meet the requirements for issuance of certificates.

The records show that a total sum of N9,878,025,459.10 was remitted into the Retirement Savings Accounts of 41,923 employees of the 1,877 organisations.

The Comission also said 11,374 retirees went for programmed withdrawal as means of drawing their monthly pensions, while 1,596 embraced Retiree Life Annuity which is managed by life insurance operators.

PenCom in its fourth quarter report, noted that it granted approval for 11,374 requests, comprising 5,681 public (FGN & States) and 5,693 private sector retirees to draw pension through the Programmed Withdrawal mode during the quarter under review, adding that these retirees received a total lump sum of N32,631,748,404.55 while their total monthly pension amounted to N455,487,074.25.

The Pension sector regulators said it also granted approval to 1,596 retirees under the Retiree Life Annuity during the quarter under review, stressing that a total lump sum of N6,284,179,444.33 was approved for payment to the retirees, while the sum of N10,115,855,000.10 was approved for payment to 14 Retiree Life Providers as premium in return for total monthly/quarterly annuities of N111,677,547.01.

PenCom maintained that during the quartered, it granted approval for Enbloc payment of retirement benefits to 3,499 retirees whose RSA balances were N550,000.00 or below and considered insufficient to procure Programmed Withdrawal or Retiree Life Annuity of a reasonable amount for an expected life span. In this regard, a total sum of N848,920,264.47 was paid to the 3,499 retirees comprising 200 public (FGN & State) and 3,299 private sector retirees, it said.

Patoma Admin by — March 12, 2021 in Others 0

By admin

The Nigerian Meteorological Agency (NIMET),has commissioned a Weather Observatory Station at the Kaduna State University (KASU).

Director General of NIMET, Professor Sani Abubakar Mashi, said during the commissioning, that the agency has also,decided to institute a prize for the best student in meteorology from the university.

“The station is built in the university so that the students can appreciate the value of meteorology and the teachers will also make use of it for meteorological information for better teaching and conducting of researches, for impacting positively to the environment within which the university is located,” he said.

” The need for degrees in meteorology is also much needed so as to train Nigerians on the act of measuring the various variables of the weather”,he said.

In his remarks, Vice Chancellor of KASU, Professor Muhammad Tanko, said the weather observatory station which was equipped with state-of-the-art equipment that was fully sponsored by NIMET had since been put into operation.

He said KASU is commuted to extending relationship with NIMET in other areas of mutual interest 

Prof.Tanko appealed to NIMET for the continuous implementation of their MoU, especially in the area of staff training.

Patoma Admin by — March 10, 2021 in Aviation 0

By Favour Nnabugwu

The British Government has announced there will be work permit for Nigerians and other international students after the completion of a UK bachelor’s degree programme or above

The UK government has announced that international students who want to work in England following the successful completion of a UK degree at bachelor’s degree-level or above, or an eligible professional qualification, can now do so.

Nigeria is one of the main countries sending students to the UK, and the numbers have increased in recent years. According to statistics, in 2020 over 13,000 Nigerian students were granted a UK study visa, an increase of 56 per cent on the year before.

The British government said the graduates could look for work after their studies for a maximum period of two years and three years for PhD students.

According to a statement on Thursday, by the British High Commission, this will allow the UK to retain the brightest and the best students to continue to contribute to the UK post-study.

It added that applications for the graduate route will open on July 1, 2021,ensuring Nigerian students would continue to choose the UK as the destination to study and build their careers.

This was contained in a statement on Thursday, titled, ‘New UK post-study graduate route to open to Nigerian students this summer,’ signed by the second Secretary Political/Head of Communications, British High Commission, Dean Hurlock.

It stated, ‘’Today, the UK government has confirmed the new Graduate route will open for applications on 1 July 2021, to international students who successfully complete a degree at undergraduate level or above in the UK. International students on the Graduate route will be able to work or look for work after their studies for a maximum period of two years (three years for PhD students). This will allow the UK to retain the brightest and the best students to continue to contribute to the UK post-study.’’

The high commission also disclosed that the coronavirus concessions for students unable to travel to the UK due to the COVID-19 pandemic have also been extended, recognising the continuing disruption many face in international travel.

It said applicants who began their studies in autumn 2020 will have to have been in the UK by June 21 (updated from 6 April 2021) to be eligible to apply to the Graduate route, adding that students who began their studies in January or February 2021 will need to be in the UK by September 27.

“’The Graduate route will be unsponsored, meaning applicants will not need a job offer to apply for the route. There will be no minimum salary requirements nor caps on numbers – Graduates on the route will be able to work flexibly, switch jobs and develop their career as required.

‘’To be eligible, international students must have completed a UK degree at bachelor’s degree-level or above, or an eligible professional qualification at a higher education provider, with a track record of compliance with the UK Government’s immigration requirements,’’ the statement noted.

It said the new graduate route would help the UK Government to achieve the ambition set out in the International Education Strategy to increase the number of international students in higher education in the UK to 600,000 by 2030.

Commenting on the development, the UK Minister for Future Borders and Immigration, Kevin Foster said, “As we rebuild from the impact of the global pandemic, we want the world’s brightest talents to see the UK as the natural home for their aspirations. The launch of this new route will ensure those who graduate from our world leading institutions will easily be able to secure the status they deserve to continue living and working as they make our United Kingdom their home.”

In her remarks, the British High Commissioner to Nigeria, Catriona Laing, stated, “In 2020, over 13,000 Nigerian students were granted a UK study visa to continue their academic journey. This is a testament to the strengthening educational relationship between the UK and Nigeria.”

“We hope the launch of this new post-study work route will provide an exciting opportunity for Nigerian students to build their careers, and discover new opportunities that the UK has to offer.”

Patoma Admin by — March 9, 2021 in Others 0

By admin

Only five state in the country have complied with the law on group life despite frantic efforts put by the National Pension Commission and Nigerian Council of Registered Insurance Brokers (NCRIB) to make the States adopt group life policy for their workers,

The four stated are Federal Capital Territory, Lagos; Osun; Edo and Ondo .

PenCom had directed employees to report any employer that fails to procure the minimum required Life Insurance Policy in their favour not less than three times their annual total emolument.

But most of the States seem not bothered by the welfare of their workers, as most of them are yet to comply.

PenCom in a notice entitled: ‘Re Compliance withguidelines for life insurance policy for employees and submission of insurance certificate for 2020’ stated that it is the right of all employees in the Public Service of the Federation, Federal Capital Territory and States that have implemented the Contributory Pension Scheme as well as private sector, under Section 4(5) of the PRA 2014 to have Life Insurance Policy taken on their behalf by their employers for an insured amount of not less than three (3) times their annual total emolument.

PenCom further advised employees to bring to its notice, where the employer fails to: “submit the evidence of compliance with Life Insurance Policy and place the certificate in a conspicuous place within the organisation.

PenCom noted that in accordance with the provisions of Section 4(5) of the Pension Reform Act (PRA) 2014 and Section 5.5 of the Guidelines for Life Insurance Policy for Employees, Employers of labour covered by the PRA 2014 are required to submit copies of the Insurance Certificates with the schedule of benefits to the National Pension Commission (PenCom).

Also speaking on the development, the past President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr Shola Tinubu, urged employers to take up the responsibility of insuring their workers, as this may also motivate employees to be dedicated to work.

Available data showed that about 2.5 million civil servants in the country are missing out of the benefits of Group Life Insurance cover, following the inability of 33 states to sign on to the policy, against the mandate of Pension Reforms Act (PRA) 2014.

Group life cover is a joint regulation of the National Insurance Commission (NAICOM) and PenCom, on Section 9 (3) of PRA 2014, requiring every employer, to which the Act applies, to maintain Life Insurance Policy in favour of the employee for a minimum of three times the annual total emolument of the employee. The policy provides cover to the insured against death.

Worried about the lack of group life cover for workers in these states, the Nigerian Council of Registered Insurance Brokers (NCRIB) had written state governments on the need to adequately protected their workers with insurance.

Patoma Admin by — March 9, 2021 in Others 0