AIICO Insurance Plc leads underwriters on pension remittance in 2013 with N117.83m

AIICO's logo

·         Hogg Robinson leads brokers with N43m

Chuks Udo Okonta

AIICO Insurance Plc last year remitted N117.83 million to Pension Fund Administrators (PFAs) as contributions of its workers, making it the highest contributor amongst underwriters in the country.

This was obtained from a Schedule of Employers Issued with Certificates of Compliance with Provisions of the PRA2004 as at June 11, 2014, released by the National Pension Commission (PenCom).

According to the schedule, Hogg Robinson Nigeria Limited led the brokers with N43 million.

PenCom said it issued certificates to 762 companies drawn from different sectors of the economy. The certificate is one of the necessities for bidding governments’ contracts and it is aimed at ensuring that companies comply with the Pension Reform Acts 2004, which mandates employers with five workers to make monthly pension contributions on their behalf and remit same to the pension fund administrators.

Other underwriting firms that made significant contributions are: Leadway Assurance Limited, N90.35 million; Sovereign Trust Insurance Plc, N56.68 million; Lasaco Assurance Plc, N29.02 million; Unity Kapital Assurance Plc, N44.04 million;   Mansard Insurance Plc, N43.33 million; Custodian and Allied Insurance, N31.41 million and FBN Life Assurance Limited N26.73 million.

Broking firms that also made great contributions are: YOA Insurance Brokers Limited, N10.58 million; Man-Mountain and Company Limited, N5.48 million; Leverage Insurance Brokers Limited, N2.26 million and Plum Insurance Brokers N867, 781