Financial statement: NAICOM releases approved companies

The National Insurance commission has released the list of insurance companies that it approved its 2016 financial statements as at June 13, 2017.

The MM released signed by the Head, Corporate Affairs of the commission, Mr Rasaaq Salami on Tuesday in Abuja named FBN General Insurance, Wapic Life and Ensure Insurance companies financial statement as approved. Others are Continental Reinsurance, Zenith General Insurance , FBN Insurance , Zenith Life Assurance , Consolidated Hallmark Insurance, Custodian and Allied and Custodian Life Also, Law Union and Rock, Wapic General, AIICO Insurance, AXA Mansard, Prestige Assurance, Nem Insurance Plc, Regency Insurance Plc, Lasaco Assurance and UnityKapital Assurance were approved

It added that Cornerstone Insurance, Fin Insurance Plc Royal Exchange General, leadway Assurance Plc, Old Mutual General Insurance, Staco Assurance, Royal Prudential Life and Mutual Benefit Life assurance Plc companies were approved. The Commission said that it also approved the financial statement of Sovereign Trust assurance, NSIA Insurance, Standard Alliance Life Assurance, Mutual Benefits Assurance Plc and Old Mutual Life assurance Plc. It further said that few companies that their Financial Statement were queried include Nigeria Reinsurance Corporation, Guinea Insurance , United Metropolitan Nigeria Life Insurance Ltd and Standard Alliance General Insurance.

It noted that the review of the financial statement of Linkage Assurance, Sterling Assurance and KBL Insurance Ltd was in process.

Edith Ike-Eboh