Magazine date:
Oct 2014 Twelve insurance companies, out of 59 in the Nigerian market, have not yet submitted their 2013's annual reports to the National insurance commission (NAICOM).
Among the 47 reports submitted to the NAICOM:
- 35 have been approved
- 10 are awaiting additional information
- 2 are under review
As a reminder, defaulting insurance companies will have to pay a fine of 30.5 USD for each exceedance day. The deposit deadline was set to 30th June 2014.