LeLaw Barristers & Solicitors
According to industry statistics, Nigeria's Insurance Penetration Rate (IPR) in 2013 was 0.39%, declining from 0.48% in 2010.
NAICOM's power to administer, supervise, regulate and control the insurance industry is derived both from its establishment Act and the Insurance Act.
Banwo & Ighodalo
In exercise of its statutory powers and regulatory functions, the NAICOM, recently reviewed the minimum paid-up share capital requirement for all classes of insurers doing business in Nigeria.
Perchstone & Graeys
The story of Chief and Mrs. Brown underscores the importance of insurance in intergenerational wealth management.
Andersen Tax LP
The Insurance industry is a very important part of any economy as it generally acts as a shock absorber for businesses. Insurance is a key risk management tool which enables businesses hedge against the potential risk of a loss.
The insurance industry is one of the specialised businesses having a peculiar business model and corresponding distinct tax considerations in Nigeria.
The public notices are meant to serve as a reminder to the earlier issued guidelines for life insurance policy by PenCom.
Some life assurance policies contain elements of savings or investment. Such policies often mature during the active lifetime of the policyholder or based on an agreed tenure.
The Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) to clarify the treatment of savings element on insurance premium.
The Deloitte Insurance Risk Management Survey was commissioned to understand the state of risk management practices in the Insurance industry in line with NAICOM guidelines.
Clyde & Co
The insurance market on the continent of Africa has changed and continues to change significantly – but it still has a long way to go.
Akinjide & Co