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Nigeria's insurance industry grows at 40% average: Regulator

February 19, 2014 - 6:00am


Fola Daniel, commissioner of the National Insurance Commission, said Nigeria's insurance sector is growing on an average of 40%, up from less than 3% in the previous three years, because of the newly introduced reforms, ThisDay Live reported.

Mr. Daniel said the sector could grow between 200% and 400% if compulsory insurance, the 'no premium no cover' policy, and other reforms are strictly followed.

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