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Business News of Wednesday, 18 November 2020


NIC releases list of insurance companies in good standing

The National Insurance Commission (NIC) has shared with the general public all the insurance entities that can be trusted for business operations.

NIC is the regulatory and supervisory body of the insurance services sector with a broad consumer.

The commission has served the general public with the list of insurance entities in good standing as of October 31, 2020.

NIC has however stated that the “licensed one hundred and thirty (130) insurance entities comprise of 17 Life Insurance Companies, 23 Non-Life Insurance Companies, 3 Reinsurance Companies and 87 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 list of insurance entities in GOOD STANDING as of October 31, 2020.

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