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Nigeria: Insurers' premiums from 2004 to 2013 reach $9.37 billion

July 22, 2014 - 6:00am

The Nigerian insurance sector earned 1.5 trillion Nigerian naira ($9.37 billion) in premiums from 2004 to 2013, the Nigerian Insurers Association revealed.

The insurance industry's average growth rate stood at 24.3% during the period, The Punch reported.

The association said nonlife business contributed more to the industry's earnings than life insurance.

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