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Insurance companies to report over N100 billion in claims in 2020

The prices of major food items, such as bags of beans, pepper, tomatoes, eggs amongst others have witnessed a significant surge in Lagos State markets, while the price of local and foreign rice record a slight decrease.
This is according to the latest market survey, carried out by Nairalytics Research – the research arm of Nairametrics.
According to the report, a big bag of brown beans that was initially sold for an average of N33,500, rose by 3.7% to sell for an average of N34,750. Also, the price of a big bag of honey beans increased by 7.02% to sell for an average of N24,750. ....

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NAICOM grants operating license to Enterprise Life Assurance Company (Nigeria) Limited

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The Nigerian National Insurance Commission (NAICOM) has granted Enterprise Life Assurance Company (Nigeria) Limited, license to commence operations in the country. This is after the company met the minimum stated capital requirement of ₦8billion in February 2020.
Enterprise Life Assurance Company (Nigeria) Limited is a member of the Enterprise Group PLC, a financial services Group with operating companies in insurance, pensions, real estate and funeral services.
Speaking on the license acquisition, the Group’s Chief Executive Officer, Keli Gadzekpo, said the move is in line with the Group’s vision of expanding its business footprint beyond Ghana, into the broader West African Sub-region. “As Africa progressively moves into middle-income status, the importance of insurance for risk mitigation and as a savings tool is becoming more important. Enterprise Group is positioned to play a key role in p ....

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