NIC updates list of insurance companies in good standing

The National Insurance Commission(NIC) has issued a fresh list of entities that are in good standing for November 2020.

This new release is an update of the list which has already been issued by NIC.

The National Insurance Commission (NIC) is the regulatory and supervisory body of the insurance services sector with a broad consumer and prudential mandate under the Insurance Act 2006 (Act 724).

NIC has however stated that over one hundred and thirty licensed insurance entities are in good standing.

The new list comprises “17 Life Insurance Companies, 27 Non-Life Insurance Companies, 3 Reinsurance Companies, one Reinsurance contact office, and 91 Insurance Brokers and Loss Adjusters”.

This release is in line with the authority’s prudential mandate under the Insurance Act 2006 (Act 724).

The National Insurance commission periodically updates the public on insurance entities that are in good standing to do business with.

Below is the updated list