Approved Insurance Companies and Other Sector Statistics

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Approved Insurance Companies and Other Sector Statistics

By Acceler8now.com Stock Investing Team,
December 3, 2007

If you would like to broadly update yourself on insurance sector operators and related facts, here are some of the key statistics:

Recapitalisation Requirement
New minimum paid-up share capital for insurance business - effective 1st September, 2005 for new insurance businesses and 28 February, 2007 for existing insurance companies:

Life Insurance business: N2 billion
General Insurance busines: N3 billion
Reinsurance: N10 billion

Approved Recapitalised Insurance Sector Operators
Following the verification instituted into the recapitalisation exercise, the National Insurance Commission has announced approved insurance and reinsurance companies as follows:

Composite insurance business: 28 companies
General Insurance busines: 23 companies
Life insurance: 7 companies
Reinsurance: 1 company

Here's a list of the approved insurance companies, that is, insurers that have fully recapitalised up to or above the stipulated minimum capital requirements:

S/No	Name of Company	Class of Business
1.	ADIC Insurance Company Ltd	Composite Insurance
2.	AIICO Insurance Plc *	Composite Insurance
3.	Cornerstone Insurance Plc *	Composite Insurance
4.	Crusader Insurance Plc *	Composite Insurance
5.	Goldlink Insurance Plc *	Composite Insurance
6.	Great Nigeria Insurance Plc *	Composite Insurance
7.	Guaranty Trust Assurance Plc *	Composite Insurance
8.	Industrial & General Insurance Company Ltd	Composite Insurance
9.	LASACO Assurance Plc *	Composite Insurance
10.	Leadway Assurance Company Ltd	Composite Insurance
11.	Mutual Benefits Assurance Plc *	Composite Insurance
12.	Niger Insurance Plc *	Composite Insurance
13.	Oceanic Insurance Company Ltd	Composite Insurance
14.	Royal Exchange Assurance Plc *	Composite Insurance
15.	Standard Alliance Insurance Plc *	Composite Insurance
16.	Union Assurance Company Ltd	Composite Insurance
17.	WAPIC Insurance Plc *	Composite Insurance
18.	Zenith Insurance Company Ltd	Composite Insurance
19.	Alliance & General Insurance Plc *	General Insurance
20.	Anchor Insurance Company Ltd	General Insurance
21.	Consolidated Hallmark Plc *	General Insurance
22.	Custodian & Allied Insurance Plc *	General Insurance
23.	Equity Indemnity Insurance Plc *	General Insurance
24.	Guardian Trust Insurance Company Ltd	General Insurance
25.	Guinea Insurance Plc *	General Insurance
26.	International Energy Insurance Company Ltd	General Insurance
27.	Investment & Allied Insurance Company Ltd	General Insurance
28.	Kapital Insurance Company Ltd	General Insurance
29.	Law Union & Rock Insurance Plc *	General Insurance
30.	Linkage Assurance Plc *	General Insurance
31.	NEM Insurance Plc *	General Insurance
32.	Nigeria Agricultural Insurance Corporation (NAIC)	General Insurance
33.	OASIS Insurance Plc *	General Insurance
34.	Prestige Assurance Plc *	General Insurance
35.	Regency Alliance Insurance Plc *	General Insurance
36.	Sovereign Trust Assurance Plc *	General Insurance
37.	STACO Assurance Plc *	General Insurance
38.	Sterling Assurance Nigeria Ltd	General Insurance
39.	Unitrust Insurance Company Ltd	General Insurance
40.	Universal Insurance Company Ltd	General Insurance
41.	Yankari Insurance Company Ltd	General Insurance
42.	African Alliance Insurance Company Ltd	Life Insurance
43.	Capital Express Insurance Company Ltd	Life Insurance
44.	Equity Life Insurance Company Ltd	Life Insurance
45.	Guardian Express Assurance Company Ltd	Life Insurance
46.	Heirs Life Assurance Company Ltd	Life Insurance
47.	Standard Life Assurance Plc *	Life Insurance
48.	UNIC Insurance Plc *	Life Insurance
49.	Continental Reisnurance Company Plc *	Reinsurance
*Quoted insurance companies

Premium Investment Education, Always

Major Investment Sections:
Learn to Save Money Stocks Investing - Basics+ Bonds Investing Unit Trusts/Mutual Funds	Personal Finance Money Market Tools Primetime, for Youths Healthy Living	Property Investing Building a Business Retirement Planning Investing for women
Free Book Offer: The Science of Getting Rich by Wallace D. Wattles. Timeless Wisdom! Request Free! Go here». Also, get the FREE eye-opening report: 5 Explosive Stocks. They more than doubled in value in just one month! Request here».

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