Insurance Firms Disagree With NAICOM On Premium Income

There seem to be a major disagreement between insurance industry regulatory body, the National Insurance Commission (NAICOM) and the industry operators on the volume of money earn by insurance firms by way of premium. While the commissioner for insurance, Mr. Fola Daniel, said that premium income for insurance industry has hit the N300 billion mark, the umbrella body of insurance companies, the Nigerian Insurers association puts the figure of their premium in 2011 at N200 billion. The NIA figure was contained in the association’s 2011 annual report and account.


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