Insurance

The Nigerian Council of Registered Insurance Brokers (NCRIB) has decried the undervaluation of government assets, noting that such action was capable of slowing down the pace of development of the insurance industry in Nigeria.

Extended relatives of the victims of Dana Airline that crashed at Iju in Lagos on June 3, 2012, are hampering the prompt settlement of insurance claims due to the legitimate next of kin of the victims as multiple claimers want access to the claims.

Despite the harsh economic weather under which businesses operated last year, Standard Alliance Life Assurance Ltd has achieved a gross production of N4.8 billion.

If only 25 per cent of Nigerian populace could be mobilised to patronise genuine insurance products, insurance companies would be bigger than banks and contribute immensely to the Gross Domestic Product (GDP), an insurance operator has noted.