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Foreign insurers eyeing opportunities in Nigerian insurance market

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An increasing number of foreign insurers are eyeing the Nigerian insurance market amidst rising catastrophe losses and volatility in several foreign markets, Nigerian news agency BusinessDay reported.

Factors attracting foreign insurers into the country include the rarity of significant claims related to catastrophe risks in recent times. Some industry experts have said that local insurers may not be equipped enough to tackle large catastrophe risks.

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