Healthcare Int’l seeks coverage for more Nigerians
The Managing Director, Healthcare International, Mr. Tosin Awosika, said this at a forum organised by the HMO for its health care providers in Lagos.
Awosika said, “We still have less than five per cent of the Nigerian population under the NHIS; and insurance deals with numbers. We should be covering nothing less than 20 to 30 per cent of the Nigerian population.”
The managing director said that in order to serve the enrollees better, the HMO organizes this kind of forum with its health care providers between two to four times a year to meet, interact and exchange ideas.
While noting that many of the blue-chip companies had keyed into the NHIS, he said that the informal sector that comprised the larger percentage of the country’s population had yet to do so.
He said that Healthcare International is not only providing health insurance for the corporate sector, but also for individuals, associations and other groups in the informal sector and in recent time, a move has been made to include the elderly.
source: http://punchng.com
Lloyd’s demonstrates strength following 2017 loss
Following one of the costliest years for natural catastrophes in the past decade, Lloyd’s has announced an aggregated market loss of US$2.7bn for 2017.
The key financial figures are: Aggregated market pre-tax loss of $2.7bn (2016: Pre-tax profit of $2.6bn); Gross written premiums of $43.3bn (2016: $40.3bn); Major claims for 2017 were $5.8bn (2016: $2.8bn); Net investment return of $2.3bn (2016: $1.8bn) and Combined ratio of 114.0% (2016: 97.9%)
After a number of relatively benign catastrophe years, the frequency and scale of the disasters that struck around the world in the second half of 2017 saw major claims costing the Lloyd’s market $5.8bn, more than double the previous year (2016: $2.8bn). This significant loss activity generated an underwriting loss of $4.4bn for 2017 (2016: $0.6bn profit), resulting in a combined ratio of 114.0% (2016: 97.9%).
The Lloyd’s market has worked hard to pay claims to policyholders as quickly as possible throughout the year. A total of $23.6bn in claims gross of reinsurance was paid out by the Lloyd’s market during 2017, demonstrating the critical role the market plays in helping businesses, communities and countries recover quickly after disasters.
The Lloyd’s market has met these substantial commitments without any significant impact on total resources which remain strong at $37.2bn. Lloyd’s capital position remains robust and our ratings with the leading ratings agencies remain at A (excellent) from A.M. Best, A+ (strong) from Standard & Poor’s and AA- (very strong) from Fitch.
Lloyd’s Chief Executive, Inga Beale, said: “The market experienced an exceptionally difficult year in 2017, driven by challenging market conditions and a significant impact from natural catastrophes. These factors mean that for the first time in six years Lloyd’s is reporting a loss.
“Lloyd’s is here to support customers when it matters most, providing the financial support to enable businesses, governments, and most importantly people to recover and rebuild their lives as quickly as possible and I’m proud of the market’s response.
Source: https://www.lloyds.com/
