October 6, 2023/FBNQuest Report According to data recently published by the National Insurance Commission (NAICOM), the gross premium of the insurance sector increased to NGN551.4bn in Q2 ’23 from NGN369.2bn in Q2 ’22. This represents an increase of 49% q/q (77% y/y) respectively. The total premium income comprised of income […]
Insurance
Heirs Insurance Group Reports N20Bn Revenue for FY2022, Pays N2.6Bn Claims
September 4, 2023/Heirs Insurance Heirs Insurance Group, comprising Heirs General Insurance (HGI) and Heirs Life Assurance (HLA), announced a record-high 226% jump in Gross Written Premium (GWP), from N6.1bn in 2021 to N19.9bn for the financial year ended December 31, 2022. With the strong performance sustained in its second year […]
Global Reinsurers Pull Back from Natural Catastrophe Cover
August 24, 2023/Fitch Ratings Global reinsurers are cutting back on the cover they provide against medium-sized natural catastrophe risks due to investor pressure after several years of large catastrophe losses and improved profitability in other parts of the market, Fitch Ratings says. Some companies were already retreating from the property-casualty […]
