Naicom Approves Five Underwriting Firms’ IFRS Accounts

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The National Insurance Commission (Naicom) has approved 2012 International Financial Reporting Standard (IFRS) accounts of five insurance companies in the country.

About 22 underwriting firms have so far submitted their results. A statement from the commission, signed by Mr. Salami ‘Rasaaq, assistant director, Naicom, said the approved accounts are those of Masard Insurance Plc, ADIC Insurance,  WAPIC Insurance Plc, Oasis Insurance and Consolidated Hallmark Insurance.

Rasaaq added that the responses made by First Bank Life Assurance and AIICO Insurance are undergoing review.

He stated that the account of Law Union and Rock insurance has been queried and that the commission is awaiting the firm’s response.

Rasaaq said review is in process on the accounts of UBA Metropolitan Life, Custodian and Allied, NEM, Crusader General, Crusader Life, Zenith General, Zenith Life, FIN Insurance, Standard Alliance Life, Crystal Life, Sterling Assurance, Leadway Assurance, Wapic Life and Industrial and General Insurance (IGI) Plc.

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Naicom Approves Five Underwriting Firms’ IFRS Accounts

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