Although profitable, the business of insurance requires very huge capital, especially since they have to show they are financially reliable. The minimum share capital for insurance companies in Nigeria is set to a particular level, to ensure that the company is financially buoyant enough to handle claims. Therefore, this ensures that the company does not […]
Others
Social health insurance – What you need to know
Insurance is one of the largely under-tapped industries in Nigeria, although that is quickly changing in recent times. A subsidiary, social health insurance, is very important in a country, as it helps protect the average citizen, providing health care coverage. However, it is not very common today and is largely limited to the working class […]
A Web Platform for Loans and Credit Launches in Ghana
Loanspot Ghana is a leading credit and loans content platform in Ghana that focuses on consistent information on loans and credit industry. The platform is inviting visitors to explore its new web platform on different types of loans and credit in Ghana. It is important for everyone to get ahead with the right piece of […]
An overview of the Insurance business in Nigeria
Insurance is simply a business of risk management and transfer. Therefore, it has thrived for centuries in the business world due to its naturally risky nature. Today, insurance basically covers all spheres ranging from the business to personal life. Insurance is also one of the industries that thrive in a country like Nigeria, with records […]
Funeral expenses insurance in Nigeria explained
The death of a loved one always comes with mixed emotions, with a larger portion of it being sadness. It is never an easy thing, and more often than not, everyone has to come to terms with the finances required to bury such a person. Therefore, this subject is a discussion that needs to be […]
Complete List of Insurance Companies in Nigeria – 2022 Updated list
We can basically link the inception of Insurance in Nigeria to the arrival of British Trading firms. These firms had to manage the risks associated with their businesses. Therefore, they had to establish insurance agencies that got their licenses from abroad. These licenses enabled these companies to facilitate issue cover and claims facilitation. During this […]
Insurance Bond in Nigeria explained
An Insurance bond in Nigeria is basically an investment instrument offered by life insurance companies. They are always in the form of long-term or whole life insurance policy. Insurance bond presents itself as the best option for investors who are looking to invest on a long-term basis. Additionally, it also comes in handy for investors […]
Transit insurance in Nigeria – What you should know
Transportation is one of the core pillars of the global economy, as goods have to move from one place to another. However, sadly, there is always the risk of an accident that could see you lose your valuables in minutes. Therefore, this is why transit insurance is important. Transit insurance in Nigeria is especially useful […]
Retiree life annuity in Nigeria Explained
The lifetime annuity act is one of the most recent insurance revisions made by the Nigerian government. A lifetime annuity is a different kind of retirement income that you purchase with your accumulated pension fund. Therefore, when you purchase a life annuity, it guarantees a regular income for life, after you retire. Retirement insurance is […]
Business interruption insurance in Nigeria
The nature of running a business is such that it is unpredictable with lots of different outcomes each day. Also, although you could read market indications and predict possible outcomes, you can’t exactly plan for civil unrest or disaster. Sadly, when these things happen, you lose money the more it stays unresolved. However, the best […]