Investigations revealed that the cash and cash equivalents held by life underwriters have been falling since 2015. Nigeria
The National Insurance Commission has said the liquidity position of some underwriting companies in the country has hindered the industry’s progress, with heavy investments on fixed assets.
Data obtained from the Nigerian Insurers Association showed that cash in the hands of life operators fell from N59.97 billion in 2015, N41.08 billion in 2016, to N29.49 billion in 2017. Industry watchers believed the poor liquidity position is responsible for the inability of some companies to settle claims promptly.
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