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Nigeria: Gross premium income up 19% in first quarter of 2014

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Gross premium income reported by the Nigerian insurance industry for the first quarter of 2014 was up 19% from the amount reported during the previous quarter, though insurance penetration ratio was still less than 1%, reports Nigerian daily Leadership.

Nonlife underwriters, comprising 22 insurers, made up 43% of the total gross premium income.

There was an increase in underwriting activities in the oil and gas and marine segment.

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