Universal, Guinea, Norrenberger group to sponsor NAIPE AGM*

By Favour Nnabugwu
Universal Insurance Plc, Guinea Insurance Plc and Norrenberger Group are set to sponsor the 2023/2024 Annual General Meeting (AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE).
 This year’s NAIPE AGM will take place in Lagos at the Nigerian Insurers Association (NIA) House in Victoria Island, Lagos, on July 9, 2024
NAIPE is the umbrella body for journalists covering insurance and pension sectors in Nigeria.
NAIPE holds its AGM in July every year and companies that sponsor the AGM have the unique opportunity to market their products and services to NAIPE members in the course of the event who will in-turn push out the information to the general public through publication of stories and analysis in their mediums and platforms.
 Universal Insurance Plc is one of the nation’s largest personal lines insurer with over N8 billion in assets.
Universal Insurance offers a broad spectrum of insurance products for all types of businesses, corporate and individuals with unique services delivery.
Some of its extensive products include Auto Insurance, Good In Transit, Property Insurance, Marine Insurance, Bond Insurance, Money Insurance, All Risk Insurance, Boilers & Pressure Vessels Insurance, Builders’ Liability Insurance, Burglary & House Breaking Insurance, Contractors All Risks Insurance, Employer’s Liability Insurance, Erection All Risks Insurance, Fidelity Guarantee Insurance, Fire & Special Peril, and Oil & Gas Insurance, etc.
 According to Universal Insurance, “Our vision is to be a dominant, specialised non life insurer in Nigeria, creating and delivering value to stakeholders while our mission is to offer specialised non life insurance protection to clients inspired by innovation, efficiency and prompt claims settlement.”
The Company is known for prompt claims settlement, integrity, satisfaction through professionalism, unity of purpose, reliability, as well as excellent teamwork.
Guinea Insurance Company Limited was incorporated on December 3, 1958, as a non-life insurance underwriting firm to provide first-rate insurance solutions in the General Business category.
Guinea Insurance has always lived up to its name; consistently one step ahead of the industry in the provision of better and affordable risk management solutions.
“We are a major player in the provision of first* -rate financial risk solutions in the General and Special Risks business underwriting categories. We have established a reputation for exceptional competence in the delivery of customer-centric services and product innovation,”  the company stated.
With a strong capital base, highly qualified professionals, and modern technology, Guinea Insurance became widely acknowledged for speed and efficiency and thus, remained the preferred insurer for individual and corporate clientele seeking premium insurance and related financial services to date.
The Company offers First Class Products which are tailored to meet the numerous needs of its clients, both as individuals and corporate organisations,  providing cover options that are rich and robust enough to accommodate virtually all eventualities.
Some of the products are Home Shield Insurance, Fire and Special Peril Insurance, Motor Insurance, Burglary/Theft Insurance, All Risk Insurance, Workmen’s Compensation Insurance, Personal Accident/Group Personal Accident Insurance, Public Liability Insurance, Bonds Insurance, Contractors All Risk Insurance, Erection All Risk Insurance, Marine Cargo Insurance, Fidelity Guaranty, and Oil & Gas Insurance, etc.
Norrenberger Group is a leading, integrated financial services group that provides bespoke financial solutions that add value to its individual and institutional clients.
The Group’s culture is built on the fundamental values that they all hold. Every Norrenberger team member embraces these values and lives by them, not just at work, but in life.
At Norrenberger, they unlock opportunities in society by providing cutting edge investment options and access to alternative financing which in turn allows people to bring their innovative ideas to life and expand their existing businesses.
The Group’s focus is to continue to create financial asset classes targeting the need of every single household in Nigeria. By 2025, they hope to have delivered at least one financial solution to every household.
The Group covers the following business areas amongst others, Asset Management, Investment Banking, Pensions, Securities Trading and Insurance.
NAICOM’s CFI visits Inspector General of Police on compulsory insurance

Commissioner for Insurance/ the Chief Executive Officer of National Insurance Commission, Naicom, Mr Olusegun Omosehin paid a visit to the Inspector General of the Nigerian Police Force, Kayode Adeolu Egbetokun in Abuja on better enforcement of compulsory insurance
By Favour Nnabugwu
National Insurance Commission, Naicom led by the Commissioner for Insurance, Mr Olusegun Omosehin paid a visit to the Inspector to the Inspector General of Police, Kayode Adeolu Egbetokun to align IG with the mandate of Naicom and the news to support the industry compulsory insurance.
The purpose of the visit was to seek an audience with the IGP and the management of the Nigerian Police Force (NPF), who are critical stakeholders aligned with NAICOM’s vision, to achieve its mandate, particularly in the area of compulsory insurance enforcement.
During the visit, the Commissioner for Insurance requested collaboration to advance the Nigerian insurance sector roadmap.
He emphasised that it is unlawful for individuals to drive on the road without valid motor insurance (3rd party), he noted that less than a quarter of the vehicles have valid motor insurance.
The CFI stated that the visit aimed to seek NPF’s collaboration to ensure the enforcement of compulsory 3rd party motor insurance, as mandated by law.
The CFI also highlighted that in 2023, the ECOWAS Brown card has been captured in the upgraded premium for 3rd party motor insurance cover by NAICOM, allowing insured vehicles to travel across the West African sub-region.
Additionally, he noted that the benefits attached to the 3rd party insurance had been increased to N3 million.
To further this initiative, the CFI underscored the need for digitisation platforms to authenticate the validity of vehicle insurance.
He mentioned that this system is already being implemented by the Lagos State government.
The CFI requested the establishment of a team to collaborate with the Commission in conducting enforcement actions, asserting that the success of this initiative would be a significant achievement for Nigeria.
In response, the IGP assured the CFI of the Nigerian Police Force’s full support in enforcing compulsory 3rd party insurance.
He announced that a team, headed by the DIG Operations, would be set up to oversee the enforcement of compulsory insurance.