Stanbic IBTC, three other firms seek insurance licences

Four firms have applied for an insurance operational licence, the National Insurance Commission (NAICOM), has said.

The firms are: Heir Insurance Limited (General); Stanbic IBTC Insurance Limited; Heirs Life Assurance Limited and Enterprise Life Assurance Company Nigeria Limited.
NAICOM in a publication said: “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 fulfillment 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. Members of the public are requested to submit/report any objection or otherwise against these registrations to the Commission within 21 days from the date of this publication, please.”

Heir Insurance Limited (General), has picked, Olaniyi Stephen Onifade, as its Managing Director, Stanbic IBTC Insurance Limited, picked, Akinjide Orimolade, as Managing Director; Heirs Life Assurance Limited, picked, Abah Okoriko and Enterprise Life Assurance Company Nigeria Limited, picked, Fumilayo Abimbola Omo