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Insurance Hub

Nigerian Insurers Profits Face ‘Double Whammy’ of Low Yields, Coronavirus

Nigerian Insurers are set to see earnings slow as low yield environment and the coronavirus pandemic means future profit will wither away like chaff...

Mutual Benefit Records Largest Underwriting Income Among Peers

Mutual Benefit Assurance (MBA) Plc has recorded the largest underwriting income in the insurance industry as premium income exceeded claims expenses, which helped add...

Prestige Assurance Profit Surges on Strong Underwriting, Lower Cost

Prestige Assurance Plc reported first quarter (Q1) earnings that trounced analysts’ expectations as profit surged on the back of reduction in operating and claims...

Nigerian Insurers’ Premium Income up 20.61 percent to N418.66 bn in 2019

The largest Nigerian insurers are leveraging innovative products to magnify revenue, but the country’s penetration rate is still one of the lowest in the...

FBN Insurance reinforces earnings capacity as profit jumps 36.98 percent

FBN Insurance Limited stellar performance once again reinforces its strong earning capacity and robust capital base, which has put the insurer in a better...

Insurers’ Claims Expenses hit N155.58 bn as COVID-19 Threat Looms

Insurers in Africa’s largest economy are expending more on claims to generate premium income, as business interruption caused by the coronavirus pandemic exposes the...

Niger Insurance 2019 Results Delayed due to Covid-19

Niger Insurance Plc says they were unable to submit the Company’s 2019 Audited Financial Statements (“AFS”) to the Nigerian Stock Exchange (NSE) by May...

Prestige Assurance Proposes 2 for 11 Bonus to Shareholders

Prestige Assurance Plc, an Insurance firm listed on the Nigerian Stock Exchange (NSE), is proposing Bonus shares in the ratio of 2 new shares...

Cornerstone Insurance Returns to Profit as Claims Expense Mounts

Cornerstone Insurance Nigeria Plc returned to profit in March, driven by realized gains on foreign exchange, but obligation to policy holders are mounting, raising...

Wapic Insurance’s Sticky Expense ratio Should Alarm Investors

Wapic Insurance Nigeria Plc is spending more in acquiring, underwriting, and servicing premium income, raising concerns about the underwriters’ cost control mechanism. For instance, expense...

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