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16 insurance firms pay N67.12bn claims in six months

SUNU Assurance private placement records 100% subscription


SUNU Assurance private placement records 100% subscription
On
Sunu Assurances Nigeria Plc has announced a 100 percent subscription for its private placement exercise.
Disclosing this in a statement, Managing Director of the company, Mr. Samuel Ogbodu said that the private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the Private Placement Memorandum dated Monday, January 4, 2021 has been successful.
He stated that a total of two applications for 3,010,800,000 ordinary shares were received in connection with the private placement.
He said the two applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.
He noted that the Securities & Exchange Commission has cleared the basis of allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allotees will be credited with shares allotted not later than February 12, 2021 by th ....

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Insurance sector's assets hit N1.82tn on recapitalisation deadline – Punch Newspapers


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The insurance sector’s assets rose by N410bn in one year as the industry attracted new investors;
NIKE POPOOLA
reports
Despite the impact of COVID-19 pandemic on the economy, the insurance industry attracted some investments that boosted its assets, investigation has shown.
Many of the underwriting firms started sourcing for foreign investors to bring in new capital since the National Insurance Commission ordered the firms to beef up their capital requirements in 2019.
Figures obtained from the Central Bank of Nigeria’s report on ‘Insurance sector (general and life) consolidated balance sheet’ revealed that the industry’s asset rose by N410bn from N1.41tn as of the end of third quarter of 2019 to N1.82tn as of the end of third quarter of 2020. ....

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