By
Patrick Alushula
Business Reporter
Nation Media Group
Seven insurance firms are facing regulatory fines for missing deadlines to submit records of their business performance, including premiums received and claims paid out.
The latest disclosures highlight persistent compliance gaps in the sector, where 33 insurers were fined Sh80.21 million in 2024 for breaches, including missed reporting deadlines for either...
By
Patrick Alushula
Business Reporter
Nation Media Group
Seven insurance firms are facing regulatory fines for missing deadlines to submit records of their business performance, including premiums received and claims paid out.

'Timely reporting is key because insurance supervision relies on current data to detect risks early.'

Fraud remains one of the most persistent and expensive challenges. According to the Insurance Fraud Investigation Unit, 184 cases…

The Prudential Authority imposed more than R115 million in penalties on banks, insurers and other financial institutions as it…

Nigerian insurers face a strict July 31 deadline for recapitalisation, needing N132bn to meet new capital rules amid a…

As we await the industry’s final reports and as 2026 gathers momentum, perhaps it is time we revisit the paradox with which we…

The rise in the share of the industry’s NSE holding came in the period their value of quoted shares rose 75.4 percent to Sh47.46…