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Seven Insurance Coys Queried Over 2012 Financials

The National Insurance Commission (NAICOM) has issued a query letter to seven insurance companies over the status of their 2012 financial statements.

The seven companies queried and whose response NAICOM awaits are Wapic Life Assuarance Limited, Nem Insurance plc, Lasaco Life Assurance, Linkage Assurance plc, Union Assurance Limited, Nigeria Reinsurance Corporation, and Universal Insurance Company Limited.

NAICOM also noted that it was also reviewing the responses of some insurance companies with respect to their 2012 financials. These companies are Equity Assurance plc, Lasaco Assurance plc, Crystal Life Insurance Responses, PHB Insurance plc, Great Nigeria Insurance, Niger Insurance plc, and Oceanic Insurance Company Limited.

The submission status of 2012 financial statements of insurance companies released by NAICOM shows that it has approved 2012 financials of only 28 companies.

SOURCE

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