NAICOM APPROVES ACCOUNT OF 22 INSURANCE FIRMS

The National Insurance Commission (NAICOM) says it only received and approved the financial accounts of 22 Insurance firms.

NAICOM added that 16 others have submitted their accounts but are yet to get approval, insisting that it would not hesitate to take regulatory action against firms that had yet to submit their accounts.


The firms that have submitted their financial accounts are: Custodian Life Assurance Limited, Custodian & Allied Insurance, Mansard Insurance Plc, FBN Life Assurance Limited, ADIC (NSIA) Insurance Limited, Cornerstone Insurance Plc, Zenith Insurance Company Limited, Wapic Life Assurance Limited, UBA Metropolitan Life Insurance Company Limited, Regency Alliance Insurance Plc, Law Union & Rock Insurance Company Plc, Oasis Insurance Plc, AIICO Insurance Plc, Continental Reinsurance Company Plc, Niger Insurance Plc, Leadway Assurance Plc, Linkage Assurance Plc, Sovereign Trust Insurance Plc, Royal Exchange Insurance Company Limited, and Royal Prudential Life Assurance Plc.

Sixteen others that submitted but yet to get approval are African Alliance, Alliance & General Insurance, Alliance & General Life Assurance, Capital Express Assurance Limited, Goldlink Insurance Plc, Great Nigeria Insurance, Industrial & General Insurance Plc, and International Energy Insurance Plc.

Others are Investment & Allied Insurance Plc, NICON Insurance Limited, Nigerian Agricultural Insurance Corporation, Spring Life Assurance Plc, Staco Insurance Plc, Standard Alliance Insurance Plc, UNIC Insurance Plc, Union Assurance Company Limited and UnityKapital Assurance Plc.