NAICOM approves financial statement of 32 companies

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The Commissioner for Insurance, Alhaji Mohammed Kari

The National Insurance commission (NAICOM) on Tuesday said it has approved the financial statement of 32 insurance companies for 2016.

The companies’ financial statements were certified by the NAICOM on June 13, 2017, the statement signed by the Head, Corporate Affairs of the commission, Mr Rasaaq Salami, said.

According to Salami, FBN General Insurance, Wapic Life and Ensure Insurance companies financial statements were approved.

Others are Continental Reinsurance, Zenith General Insurance , FBN Insurance , Zenith Life Assurance , Consolidated Hallmark Insurance, Custodian and Allied and Custodian Life

Also, Law Union and Rock, Wapic General, AIICO Insurance, AXA Mansard, Prestige Assurance, Nem Insurance Plc, Regency Insurance Plc, Lasaco Assurance and UnityKapital Assurance were approved

It added that Cornerstone Insurance, Fin Insurance Plc Royal Exchange General, leadway Assurance Plc, Old Mutual General Insurance, Staco Assurance, Royal Prudential Life and Mutual Benefit Life assurance Plc companies were approved.

The Commission said that it also approved the financial statement of Sovereign Trust assurance, NSIA Insurance, Standard Alliance Life Assurance, Mutual Benefits Assurance Plc and Old Mutual Life assurance Plc.

It further said that few companies that their Financial Statement were queried include Nigeria Reinsurance Corporation, Guinea Insurance , United Metropolitan Nigeria Life Insurance Ltd and Standard Alliance General Insurance.

It noted that the review of the financial statement of Linkage Assurance, Sterling Assurance and KBL Insurance Ltd was in process.

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