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Nigerian airlines continue to face higher insurance premiums

Posted On: Jun. 20, 2018 5:41 AM CST

Nigerian airline operators said that they continue to face higher insurance premiums compared to their global counterparts due to security concerns and violations of international conventions, New Telegraph reported citing ThisDay. Insurance industry experts said that the higher premiums are also due to fewer aircraft and a smaller market compared with other countries. The operators said that foreign insurers including Germany-based Allianz S.E. and Lloyd's of London control nearly 80% of aviation insurance business in the country.

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