Stanbic IBTC Insurance, 3 Others Apply For Insurance License — NAICOM

By: Babajide Okeowo

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July 24, 2020

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The Insurance ecosystem in Nigeria is set to welcome the addition of four more companies following the receipt of their application for licences, the National Insurance Commission (NAICOM) has announced

NAICOM on Friday confirmed the names of the companies as, Heir Insurance Ltd. (General); Stanbic IBTC Insurance Ltd; Heirs Life Assurance Ltd.; and Enterprise Life Assurance Company Nigeria Ltd.

“The National Insurance Commission (NAICOM) has received applications from the under-listed companies for registration as insurance companies to transact insurance business in Nigeria.

In fulfilment of the statutory provisions of extant laws for the registration/licensing of insurance companies, the general public is hereby informed that the commission has commenced the process of registering the companies” NAICOM stated.

The Managing Directors selected and sent to NAICOM are Olaniyi Stephen Onifade for Heir Insurance Ltd. (General), Akinjide Orimolade for Stanbic IBTC Insurance Ltd, Abah Okoriko Heirs Life Assurance Ltd and Funmilayo Omo for Enterprise Life Assurance Company Nigeria Ltd.

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NAICOM, therefore, called on members of the public to send their objections against the license approval of any of the noted companies within 21 days from the day of publication.

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Babajide Okeowo https://newdiplomatng.com/

With a career spanning over a decade spent across the Business, Political and Entertainment beats of prominent media organizations in Nigeria, Babajide Okeowo has carved a niche for himself as a Journalist of repute. As a newsroom guru, he has penned several weighty narratives and designed content that speak to a news medium's values, vision and mission while ensuring that the content resonate pretty well with a variety of critical audiences across Nigeria and beyond. A consummate storyteller whose coverage of the business industry is valuable, Okeowo is blessed with a vast analytical mind and data interpretation skills. In his spare time, he interprets data for a Leading American University while also volunteering for a Non-Governmental Organization on Mindset Transformation. Okeowo is the Content Editor of The New Diplomat.

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