Insurance

Lasaco Assurance Plc has secured regulatory approval to offer agricultural insurance products as the company seeks to diversify its business, expand its market reach, and increase revenue.

The biggest hurdle facing insurance in Nigeria is not a lack of capital; it’s the pervasive issue of trust. Many Nigerians harbour the belief that insurers are quick to collect premiums but sluggish when it comes to settling claims.

There are corporate failures that deserve to be treated as ordinary business casualties. Companies rise, companies fall, markets change and inefficient businesses eventually disappear. But the demise of NICON Insurance Limited is different.

The NCAA and NAICOM have signed an MoU to strengthen aviation insurance oversight and improve protection for passengers, airlines, cargo owners and other industry stakeholders. The agreement provides for a Joint Technical Committee on Aviation Insurance to improve...

April 14, (THEWILL) — Nigeria’s insurance industry recorded a strong 47.3 percent year-on-year growth in Gross Premium Written (GPW), rising to ₦2.301 trillion in 2025 from ₦1.558 trillion in 2024, according to the National Insurance Commission (NAICOM). In its latest...

February 23, (THEWILL) — Foreign exchange (FX) losses have wiped out much of the profit growth recorded by insurers in 2025, as currency depreciation offset gains from stronger underwriting performance and rising premium income. The insurance industry posted a combined...

December 15, (THEWILL) — Insurance underwriters are facing mounting pressure to recapitalise as brokers, key distribution partners in the insurance value chain, increasingly demand stronger balance sheets, improved claims-paying capacity, and greater financial resilience in a challenging operating...

September 08, (THEWILL) — Despite the growing awareness of financial literacy and risk management, insurance remains one of the most misunderstood concepts in many parts of the world, particularly in developing countries. The hesitation around embracing it is rooted...

January 15, (THEWILL) - Access Holdings Plc has announced the acquisition of Megatech Insurance Brokers Limited, an insurance brokerage company licensed and regulated by the National Insurance Commission. The Group stated this in a notice to the investing public and...

Some investors in Nigerian quoted firms have expressed worry over the stream of losses that has trailed the business of Guinea Insurance Plc in the last five years. A study of the firm’s financial statements showed that it has recorded...