NAICOM Receive Applications to Register 4 New Insurance Companies

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NAICOM Set To Announce New Price For 3rd Party Motor Insurance
NAICOM Set To Announce New Price For 3rd Party Motor Insurance

The National Insurance Commission (NAICOM) on Friday confirmed the receipt of applications for licences of four companies to transact insurance business in Nigeria.

The companies are:

  1. Heir Insurance Ltd. (General)
  2. Stanbic IBTC Insurance Ltd
  3. Heirs Life Assurance Ltd.
  4. Enterprise Life Assurance Company Nigeria Ltd.

The commission made the confirmation in a publication made available to Brand Spur Nigeria in Lagos.

“The National Insurance Commission (NAICOM) has received applications from the under-listed companies for registration as insurance companies to transact insurance business in Nigeria.
“In fulfilment of the statutory provisions of extant laws for the registration/licensing of insurance companies, the general public is hereby informed that the commission has commenced the process of registering the companies.
“Members of the public are requested to submit/report any objection or otherwise against these registrations to the commission within 21 days from the date of this publication,’’ the Commission said.

NAICOM said Heir Insurance Ltd. (General) selected Olaniyi Stephen Onifade as Managing Director while Stanbic IBTC Insurance Ltd. selected Akinjide Orimolade as Managing Director.

Also, Heirs Life Assurance Ltd. selected Abah Okoriko, and Enterprise Life Assurance Company Nigeria Ltd. picked Funmilayo Omo.

NAICOM Receive Applications to Register 4 New Insurance Companies - Brand Spur