Speaking at the 2022 seminar for insurance journalists in Lagos, assistant director, Statistics department, NAICOM, Mr. Umar Baba, while speaking on this development, noted that, the Nigerian Insurance industry despite its relative size, has proven to be one of the most resilient and fastest growing sectors in the Nigerian economy
To him, “during the period, the rate of growth was put at 14.2 per cent for 2017, 14.5 per cent in 2018 and, 19.2 per cent, 1.2 per cent and 19.7 per cent for 2019. 2020 and 2021 respectively. It is apparent that the trend maintained a steady rise except in 2020 of which it took a v-shaped recovery thereafter, rebounded to about 20 per cent in 2021.
In 2022 however, he pointed out that, Fire Insurance and Life business recorded highest rates at the end of H1 period, Year-on-Year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NEM Creates Insurance Awareness For Nigerians Through Fitness WalkNEM Insurance Plc has initiated insurance awareness campaign through fitness walk, in a bid to put insurance message into the the consciousness of Lagosians,
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Sanlam Life Wins Insurance Company Of The Year AwardSanlam Life Insurance Nigeria Limited, formerly FBNInsurance, has been awarded the Business Day Bank and Other Financial Institutions (BAFI) Life Insurance
Source: LeadershipNGA - 🏆 4. / 77 Read more »
NPFL Sets N10m Benchmark On Insurance Policy For PlayersManagement of the Nigeria Professional Football League, (NPFL) has set a benchmark of 10 million naira for insurance claims from policies covering players of
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Insurance firm gets new board - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »
Coalition Seeks Health Insurance For Nigerian OrphansCoalition of Orphanages and Children Home in Nigeria (COCHIN) has advocated for a health insurance policy for children living in orphanage homes. Nice one.
Source: LeadershipNGA - 🏆 4. / 77 Read more »
NSIA Insurance plans new strategies to increase market expansion | The Guardian Nigeria News - Nigeria and World NewsAn underwriting firm, NSIA Insurance Limited, has expressed commitment to diversifying insurance products to meet the needs of Nigerians.
Source: GuardianNigeria - 🏆 1. / 94 Read more »