NAICOM Blindsided, NIA Acts, Expels IGI and 2 Others from its Membership

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Wednesday, June 23, 2021   /01:30 PM /  By Proshare Research  / Header Image Credit: EcoGraphics


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The Nigerian Insurers Association (NIA) has issued a public notice duly published in a national newspaper announcing the expulsion of three (3) insurance companies from its membership.

 

According to the publication which was approved by the Governing Council of the NIA, the insurance firms were expelled for failing to meet their obligations to policy holders thus negating the basic principles of insurance

 

The three afftected insurance compoanies are;

  1. Industrial and General Insurance Company Ltd
  2. Niger Insurance Plc; and
  3. Standard Alliance Insurance Plc

 

The association stated further that the affected companies should cease forthwith from using its logo on their letterhead and other official documents.

 

Market Pulse

A quick at the market performance of the listed entities among the expelled insurance companies revealed that both Niger Insurance Plc; and Standard Alliance Insurance Plc currently trade at 20k each.


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Niger Insurance Plc - One Year Share Price Movement

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Standard Alliance Insurance Plc - One Year Share Price Movement

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Related News on Standard Alliance Insurance

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