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Nigeria: Rising political tensions could dent insurance industry's growth

April 22, 2014 - 6:00am


Analysts have said the Nigerian insurance industry's projected growth could be disrupted by the rising political tensions ahead of elections in 2015, Business Day reported.

Analysts had said that the heavier rains and storms expected in 2014 could have given the insurance sector a boost.

But they now say that rising insecurity in parts of Nigeria could jeopardize this growth.

Standard & Poor’s Ratings Services said in a recent report that Nigeria's insurance market has a high risk level.

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