Against the report by a national daily (not LEADERSHIP) that solvency ratio of five, out of 12 Nigerian insurers companies have fallen below regulatory threshold, the National Insurance Commission (NAICOM) has described the report as false and misleading.
According to the refuted report, the five insurers whose solvency ratio are below the threshold are Aiico Insurance Nigeria Plc with solvency ratio of 55 per cent, First Bank Insurance Plc who ratio is said to be at 59.10, per cent, Lead way Assurance Limited: 76 per cent, NEM Insurance Plc, 93 per cent and Continental Nigeria Plc which the report also said currently stands 90 per cent.
The report noted that any insurance firm whose insolvency ratio is below the minimum level automati…
Read the full article at: https://leadership.ng/2018/05/09/no-insurance-company-has-insolvency-ratio-problem-naicom/