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Insurers earn N1.97bn premium from workmen compensation

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Eight underwriters recorded a total of N1.97 billion from Workmen Compensation insurance business within a period of five years, New Telegraph has learnt.

The insurance firms, according to current industry digest released by the Nigerian insurers’ Association (NIA), include AIICO Insurance Company Limited, Niger Insurance Plc, Prestige Insurance Plc and International Energy Insurance Plc.

Others are Regency Alliance Insurance Plc, Nicon Insurance and Great Nigeria Insurance Plc.

A breakdown of the premium received from 2011 to 2015 shows that in the first year, AIICO received a total of N244, 709,000; Niger, N158,762,000; Prestige Assurance Plc, N75, 948,000; International Energy Insurance, N55,355,000; Regency Alliance Insurance, N38, 349,000; Nicon Insurance Plc, N17,978,000, while Great Nigeria Insurance Plc got N16,043,000.

New Telegraph, September 8, 2017

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