All Posts in "Month: March 2024"

Africa Re turnover increases by 16:25% in 2023

By Favour Nnabugwu 

 

 

Africa Reinsurance Corporation, Africa Re announced 2023 financial year with a 16.25 percent turnover increase.

Gross written premiums recorded under IFRS 4 exceeded the 1 billion USD mark, reaching 1.106 billion USD against 951.789 million USD at the end of 2022.

This growth was driven by the group’s marketing campaigns, improved market prices, strong demand for reinsurance and economic development in the main markets where Africa Re operates.

The net profit has risen from 23.733 million USD as at 31 December 2022 to 129.145 million USD one year later.

During the reporting period, the net underwriting result stood at 54.806 million USD, representing a 33.68% improvement over one year. The combined ratio gained 0.94 points to 93.51%, compared with 94.45% in 2022. This performance was achieved despite the impact of major claims over the past year, including the earthquakes in Turkey and Morocco.

Investment and other income amounted to 73.873 million USD against 13.124 million USD twelve months earlier

Patoma Admin by — March 6, 2024 in Insurance 0
NiMet’s University Network Programme promotes weather, climate warnings to farmers – DG

By Favour Nnabugwu
 

The Director-General and Chief Executive Officer of the Nigerian Meteorological Agency, NiMet, Professor Charles Anosike has said that the university network programme of the agency is aimed at promoting early weather and climate warnings to farmers around the university’s vicinity in order to boost agricultural yield.

Professor Anosike while speaking at the signing of a Memorandum of Understanding (MoU), between NiMet and Greenfield University, Kaduna State, on Monday, 5th March 2024, charged the relevant parties to the MoU to endeavour to fulfill all obligations contained in the MoU.

“NiMet is exploring more avenues to reach Nigerian farmers. This will guarantee that all citizens are protected by early weather and climate warnings against the vagaries associated with climate and weather disasters”, Professor Anosike said.

“NiMet is fully committed to assisting farmers with weather information to ensure food security. This is a key component of the Renewed Hope Agenda of President Bola Ahmed Tinubu’s government”, Professor Anosike concluded.

The MoU covers data sharing between NiMet and Greenfield University, staff development, and establishment of an automatic weather observatory within the University. The weather observatory will form part of NiMet’s network of weather stations transmitting data to the Agency’s general server, which would be analyzed for the overall benefit of Nigerians and critical sectors.

The Vice Chancellor of Greenfield University, Professor John Aiyedogbon, accompanied by the immediate past Vice Chancellor now a consultant, Professor John Gambo Laah, and the Registrar, Muhammad Bashir, applauded Professor Anosike and NiMet’s management for the successful presentation of the 2024 Seasonal Climate Prediction (SCP).

Professor Aiyedogbon said that the information contained in the SCP document will help to ensure that all sectors, especially the Agriculture sector, are better prepared for any weather-induced disaster. He added that Greenfield university is looking forward to a robust relationship with NiMet where the students, university community and the entire Kaduna State would benefit.

“We will also leverage on the university’s network of collaborations and influence to support the development of meteorology within the university’s area of influence”, Professor Aiyedogbon concluded.

The MoU signing was witnessed by the Director, Legal Services of NiMet, Barr. Shola Gabriel and other staff of the Agency. The VC of Greenfield University, Professor John Aiyedogbon signed the MoU on behalf Greenfield University while Professor Charles Anosike signed on behalf of NiMet.

Patoma Admin by — March 5, 2024 in Aviation 0
Staff training, catalyst to effective service-delivery in Public Service – TAC DG, Buba Yakub

By Favour Nnabugwu
Director-General of the Nigerian Technical Aid Corps, Dr. Yusuf Buba Yakub, has described staff training and re-training as the lifewire of effective performance in both the public and private sectors.
Buba, who stressed the importance of the abov on Monday in Abuja at the opening ceremony of a capacity-building training for officers of the Protocol Department of NTAC, said the role of the Department was such a strategic one in realizing the institutional goals and mandates of the Agency in the years ahead.
Represented by the Director of Administration at the Corps,Amb.Ahmed Abdullahi,the TAC boss challenged participants at the training exercise to make the best use of their time, emphasizing that,in spite of paucity of funds and challenges of the time,the Tinubu Administration has put the overall betterment and interests of Nigerian workers in the centre of his Renewed Hope Agenda.
While thanking the Management of NTAC for their collaboration constantly aimed at scaling up the skills of their workforce,the MD/CEO of CSO Media,Chief Dominic Ogakwu,said the involvement in the training exercise of their group,known, usually ,for quality results, underscores the commitment of NTAC to staff development and overall quality output in the Agency.He thanked the Management and staff of the Corps for the opportunity of their partnership.
Earlier,while presenting an opening remark,Lawandy Bala, Special Assistant to the Director General on Protocol Matters,expressed gratitude to the DG and members of his team for the opportunity of the training exercise.He pledged the focus and commitment of officers of the Department to actualizing the goals of the programme.
Patoma Admin by — March 4, 2024 in Metro 0