Chuks Udo Okonta
The National Insurance Commission (NAICOM)
has with one week approved the 2012 accounts of eight underwriters; thereby
bringing the number of firms that have scaled the International Financial Reporting
Standard (IFRS) hurdles to 38.
The firms
that struggled to the last minute approval are Oceanic Insurance Company Limited;
Lasaco Assurance Plc; Crystal Life Insurance; Mutual Benefits Life Assurance Limited;
Mutual Benefits Assurance Plc; Nem Insurance Plc; Linkage Assurance Plc and
Union Assurance Limited.
The
commission said as at Thursday, December
20, Industrial & General Insurance Plc; International Energy
Insurance Plc and NICON Insurance lead the category of eight that are yet to
submit their accounts. Others in that category are the five firms under NAICOM’s
management - Alliance & General; Alliance & General Life Assurance Plc;
Goldlink Insurance Plc; Spring Life Assurance Plc and Investment & Allied
Assurance Company Limited.
Those approved
are Mansard Insurnace Plc; ADIC Insurance Ltd; WAPIC Insurance Plc; Consolidated
Hallmark Insurance; Oasis Insurance Plc; FBN Life Assurance Ltd; Continental
Reinsurance Company Plc; AIICO Insurance Plc; Leadway Assurance Company Ltd; Crusader
General Insurance Ltd; Crusader Life Insurance Ltd; UBA Metropolitan Life Ins.
Company; Zenith Insurance Company Ltd and Unitrust Insurance Company Ltd.
Others are Unity Kapital Assurance Plc; Standard
Allied Life Assurance; Custodian & Allied Ins. Plc; Regency Alliance
Company; Royal Exchange Assurance Plc; Sovereign Trust Insurance Plc; Zenith
Life Insurance Ltd; Royal Prudential Life Assurance Plc; Sterling Assurance
Nigeria Ltd; Law Union & Rock Insurance Company Plc; Cornerstone Insurance
Plc; Oceanic Life Assurance Plc (Old Mutual); Prestige Assurance Plc; FIN
Insurance Ltd; Niger Insurance Plc and Equity Assurance Plc.
Those
whose accounts are placed under review are PHB Insurance Plc; Great Nigeria
Insurance and Wapic Life Assurance Ltd.
The
accounts of Lasaco Life Assurance; Nigeria Reinsurance Corporation; The
Universal Insurance Company Ltd; Capital Express; Staco Insurance Plc; African
Alliance Insurance; Anchor Insurance and
Standard Alliance Insurance Plc were queried and the commission is awaiting their
responses.
Those of Nigerian
Agricultural Insurance Corporation; Unic Insurance Plc and Guinea Insurance Plc
are being reviewed.
No comments:
Post a Comment