This article discusses how micro-insurance provides affordable, accessible, and essential coverage for small business owners in Nigeria. It explains the benefits, types, and challenges of micro-insurance, highlighting how it protects businesses against risks, fosters growth, and strengthens economic resilience, particularly for low-income entrepreneurs and informal business sectors.
Nigeria’s recent rise in Foreign Direct Investment (FDI) signals renewed interest in its insurance sector. This presents opportunities for growth, innovation, and increased financial inclusion, helping to address the nation’s economic challenges.
NAICOM Commissioner Olusegun Omosehin highlighted inflation’s impact on the insurance sector, emphasizing the need for digitalization, effective claims management, and stronger collaboration with brokers for industry growth.
The Nigerian insurance sector reached a historic N1 trillion in gross written premiums in 2023, fueled by increased premiums and industry growth, despite significant economic challenges and rising inflationary pressures.
The Nigerian government will convene a stakeholders meeting to address aviation and insurance sector challenges, aiming to enhance collaboration, promote local content, and strengthen economic growth.
This article discusses the essential role of reinsurance in the Nigerian insurance market, highlighting how it supports risk management, capital efficiency, regulatory compliance, and economic stability. It also addresses challenges and explores opportunities for growth.
NAIPE’s 2024 conference will gather industry experts to discuss the roles of insurance and pension sectors in achieving Nigeria’s $1 trillion economy goal, featuring insights from leading professionals and policymakers.
NAICOM urges insurance practitioners to rebrand the industry for better public understanding, highlighting leadership, professionalism, and collaboration to support Nigeria’s economic growth and align with President Tinubu’s agenda.
NAICOM reaffirms commitment to align insurance sector with President Tinubu’s economic reforms, aiming to grow Nigeria’s economy to $1 trillion by 2030, during Yetunde Ilori’s investiture as CIIN president.
Jaiz Takaful Insurance Ltd. has received approval to offer agricultural insurance, aiming to minimize losses and boost economic growth, while also providing coverage for general business needs.
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