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NSIA Insurance Completes 2019 ISO Surveillance; REAN and WAPIC Make Announcements

Insurance	4203 VIEWS
Insurance
4203 VIEWS

Saturday, September 21, 2019 / 5.00PM / Bukola Akinyele for Proshare WebTV

In a review of key development in the Nigerian Insurance Industry from September 16^th to 20^th, 2019, NSIA Insurance Limited last week announced the completion of its 2019 ISO Surveillance Audit by the Standards Organization of Nigeria (SON).

NSIA was awarded the ISO 9001:2015 Quality Management System Certification in May 2018. This certification was achieved due to the successful implementation of the Quality Management System and priority for customer satisfaction.

The NSIA Insurance Limited Nigeria is part of NSIA participants which is currently present in 12 African countries; Benin, Cameroon, Congo, Cote d'Ivoire, Gabon, Ghana, Guinea, Guinea Bissau, Mali, Nigeria, Senegal and Togo.

Here are the other key developments that occurred in the week;

Royal Exchange Assurance Strengthens Capacity As It Makes Inroad Into Agric Insurance

Royal Exchange General Insurance Company (REGIC) in partnership with the Frankfurt School of Finance and Management and the InsuResilience Investment Fund (IIF), held a two-day Workshop in Lagos on agriculture insurance and climate change products for staff and partners in the Nigerian market.

Benjamin Agili, Managing Director/CEO of REGIC said the workshop was aimed at changing the story of the agricultural sector of the economy and contribute to deepening insurance penetration and awareness.

The effort is also to unlock new growth potential that will increase consumer value and better returns on investment to its shareholders.

However, REGIC Insurance will also be focusing on ensuring food security, increase employment and boost financial inclusion.

Royal Exchange had in 2017 secured the approval of the National Insurance Commission (NAICOM) to underwrite agric-business.

WAPIC Insurance Submits Application To NSE For Listing of N15.63bn Rights Issue

WAPIC Insurance submitted its application to the Nigeria stock exchange, NSE for the listing of about N15.63bn rights issue.

WAPIC offers ordinary shares of Fifty Kobo (N0.50) each at Thirty-Eight Kobo (N0.38) per share, on the basis of seven (7) new ordinary shares for every six (6) ordinary shares held.

The Qualification Date for the Rights Issue was Thursday, 19 September 2019.