• About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, October 20, 2025
Bislad News
  • Login
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
Bislad News
No Result
View All Result

Annuity Business : NAICOM Releases Additional Regulatory Requirements

by Bisi Bamishe
January 31, 2025
in Insurance
NAICOM Board Approves New Operational Structure For The Commission
Share this:

By Bisi Bamishe

National Insurance Commission (NAICOM) has released a circular outling additional regulatory requirements for life insurance companies carrying on annuity business in Nigeria.

The circular dated January 24, 2025, aims to enshrine best practice in the management of annuity by insurance institutions in furtherance to ensuring a safe, sound and stable insurance sector.

Some key requirements of the circular include:

Read Also:

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

(a) Qualified Actuary: Insurance companies are required to have at least one aqualified Actuary responsible for Assets-Liability Matching (ALM) analysis and implementation.

(b) ALM Reports: Companies are required to submit ALM reports to the Commission quarterly with requirements outlined in the circular such as required action by insurers depending on the results from specific analysis applying guidance provided in the NAS Standard of Actuarial Practice (NSAP).

(c) Regulatory Compliance: Insurance companies are required to comply with the new requirements, with the Board of Directors responsible for ensuring strict compliance

(d) Transfer of Annuity Portfolio: Companies that are unable to cover the additional expenses imposed by the circular are required to transfer their annuity portfolio to another suitable insurance company within 180 days.

(e) Effective Date: The circular takes effect on February 1, 2025 expected to comply with the new requirements to ensure a stable and secure annuity business in Nigeria.

 

Previous Post

Unhealthy Twist : FUTHO Declares Itself Illegal To Avoid Prosecution In Joachim Egerue’s Suit Challenging Wrongful tTermination Of Appointment 

Next Post

Leadway Group Launches Campaign To Showcase Robust Unified Retail Offerings To Nigerians

Bisi Bamishe

Bisi Bamishe

I am a journalist with many years of experience in the field of Insurance and Pension. In 2003, I won Nigeria Media Merit Award of the IGI's Prize For Insurance Reporter of The Year

Related Posts

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President
Insurance

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President

October 18, 2025
13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship
Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

October 16, 2025
Leadway Assurance Bags Double Honours at 2025 BAFI Awards
Insurance

Leadway Assurance Bags Double Honours at 2025 BAFI Awards

October 14, 2025
Photo News : STI Celebrates 2025 Customer Service Week
Insurance

Photo News : STI Celebrates 2025 Customer Service Week

October 11, 2025
Sanya By Oyin Olugbile Wins The Nigeria Prize for Literature, 2025
Insurance

Sanya By Oyin Olugbile Wins The Nigeria Prize for Literature, 2025

October 10, 2025
Capital Express Life Assurance Reports 53% Growth ln Shareholders’ Funds For 2024
Insurance

Capital Express Life Assurance Reports 53% Growth ln Shareholders’ Funds For 2024

October 10, 2025
Next Post
GCR Affirms Leadway Assurance’s “AA+(NG)” Financial Strength

Leadway Group Launches Campaign To Showcase Robust Unified Retail Offerings To Nigerians

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President

2 days ago
13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

4 days ago
Leadway Assurance Bags Double Honours at 2025 BAFI Awards

Leadway Assurance Bags Double Honours at 2025 BAFI Awards

6 days ago
Photo News : STI Celebrates 2025 Customer Service Week

Photo News : STI Celebrates 2025 Customer Service Week

1 week ago

Bisladnews.com is an online publication of Bislad Communication Network Company. It is a news platform dedicated to providing top news.

Follow Us

Browse by Category

  • Back in the days
  • Business
  • Features
  • Insurance
  • Interview
  • News
  • Opinion
  • Paper Presentation
  • Pension
  • Photo Gallery
  • Politics
  • Sports
  • Uncategorized

Recent News

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President

October 24 : Ekeoma Ezeibe Becomes 3rd NCRIB Female President

October 18, 2025
13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

October 16, 2025
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In