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International

Weak regulation hampers Nigeria's insurance industry: Experts

April 26, 2018 Reprints

Insurance industry experts said that weak regulatory supervision and poor leadership has hampered Nigeria's insurance sector causing slow revenue growth and low penetration, Economic Confidential reported citing ThisDay. The experts said that only 32 out of 58 insurers and reinsurers operating in the country have so far submitted their financial reports in line with the directive of International Financial Reporting Standards. The insurers' capitalization and performance have been poor in the last few years, the experts added.

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Weak regulation hampers Nigeria's insurance industry: Experts

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