Insurance & Pension

Noor Takaful Host Entrepreneurs Hangout To Boost Awareness On Takaful Insurance

Published

2 years ago

March 23, 2022

Noor Takaful host Entrepreneurs hangout to boost awareness on Takaful insurance

Last week, Noor Takaful Insurance Limited – the pioneer composite Takaful Insurance firm in Nigeria, hosted young Kano entrepreneurs to an informal hang out to deepen awareness on the importance and benefits of Takaful insurance.

While delivering his presentation during the hangout, the Vice-Chairman, Noor Takaful Insurance Limited, Mr. Aminu Tukur, explained the concept of Takaful insurance.

Tukur stated that it was imperative for Nigerians, especially residents of Kano, to take advantage of the unique opportunities the company has provided by subscribing to any of the numerous offerings.

He said it was important for business owners to take a particular interest in insurance to save them from unwanted losses.

According to him, Takaful insurance operates in line with the principles of Sharia, stating that all non-permissible elements of conventional insurance have been filtered to enable them to subscribe.

He further disclosed that the offerings available under Takaful insurance were open to Muslims and non-Muslims, urging every Nigerian to subscribe to any policy.

A raffle draw was held at the event, and three people emerged as lucky winners. Each of the lucky winners got the opportunity to pick any insurance policy worth N50,000.

The event also offered an opportunity for attendees to network and see areas where they could work together to unlock opportunities.

Some of the attendees commended the organizers for the illuminating session.

Related Topics:#entrepreneurship #insurance #noortakafulinsurance #takafulinsurance

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Insurance & Pension

Access Pensions Steps Ahead, Surpasses N1 Trillion AUM Milestone

Published

4 weeks ago

August 29, 2023

Business Echo Magazine

Access Pensions Limited, a subsidiary of Access Corporation, has achieved an astonishing feat, surpassing the N1 trillion mark in assets under management (AUM).

In an impressive trajectory, the Company – which emerged from the business combination of Sigma Pensions and First Guarantee Pension in December 2022 – has scaled up its assets under management to surpass the N1 trillion threshold in just six months.

This remarkable feat firmly establishes Access Pensions position as the fourth largest Pension Fund Administrator (PFA) measured by AUM in Nigeria and the second largest PFA, overseeing a portfolio of over 1 million Retirement Savings Accounts (RSAs).

Commenting on this feat, the Managing Director, Access Pensions, Dave Uduanu said: “Our journey to N1 trillion has been guided by a strong commitment to partnering with clients to shape their future.”

While technology served as a cornerstone, Uduanu also attributed Access Pensions’ success to a disciplined investment management approach and a resolute client-centric philosophy.

“Leveraging on technology in service delivery to improve user experience, following a disciplined approach to investment management, and being a member of the largest financial ecosystem in Nigeria, we can offer clients a superior retirement planning experience. Having a client-centric approach has played a significant role as we look to match our client’s needs and aspirations, building trust along the way,” Uduanu continued.

He added that Access Pensions is committed to delivering consistent results, even in challenging times, which has been the cornerstone of its credibility and client promise.

Furthermore, on leveraging technology, Uduanu noted that Access Pensions has invested heavily in technology to enhance its operations and client experiences and that its digital platforms (USSD, Mobile, WhatsApp chatbot) and Contact Centre provide real-time updates, keeping clients informed about their portfolios and requests.

Since its official formation in December, Access Pensions has brought forth innovative products that cater to a wide range of risk preferences, effectively staying ahead of changing demands.

“Our vision is clear – to provide our clients with the financial tools needed to shape their retirement future. We are dedicated to raising the bar in service, performance, and client satisfaction. As we expand, responsible and sustainable investing will remain our priority,” Uduanu added.

With its range of innovative products and remarkable achievements like this, Access Pensions is unquestionably charting a new course for success in the pensions industry and playing a pivotal role in shaping the financial future of Nigerians.

Insurance & Pension

How Pension Reform Act Empowers Prudent Financial Management, Rewards Your Future

Published

2 months ago

July 24, 2023

Business Echo Magazine

How the Pension Reform Act Empowers Prudent Financial Management & Rewards Your Future

The Nigerian Exchange X-Academy (Winner of the CIPE’s “Business Integrity Innovation” award) has invited the public to its live virtual training in collaboration with IODCCG on Pension Reform Act: Potent Regulatory Tool for Prudent Financial Management & Reward System.

At a point in our nation’s history, the seemingly economic issues affected the pension industry where high deficit financing, huge pension arrears, and other administrative irregularities were recorded. As a result, many pensioners were owed several months and years of pension benefits leading to debts and resource scarcity.

These irregularities birthed the Pension Reform Act 2004 and 2014 as amended, thus changing the culture of financial management and reward system in the pension sub-sector; integrating the private sector into the management of pension funds and redefining the ownership rights for greater efficiency. The Pension Reform Act 2014 also increased the rate of capital flow into the pension industry for investment in the financial market and introduced a new culture of transparency and accountability that is more efficient and effective in the allocation of resources to stakeholders. Corporate Governance no doubt played significant role in redefining the pension scheme and practices leading to massive inflow into the pension fund and categorisation of operators with clear-cut responsibilities.

This Pension Reform Act training/course delivers a content-rich, immersive, and interesting learning experience covering pensions, operators, beneficiaries, attendant risks, competitive pressures, adverse stock-market and societal trends, pensions marketing, and the regulatory/ governance framework which supports them. The course is crucial for workers of all walks of life, but more so for all Management and staff of public and private pension schemes as a whole. The course will equip participants with knowledge and skills on the functioning and governance of different pension systems while also understanding the rapidly evolving Pensions Landscape in a World of Risks, Volatility, Change, and Uncertainty.

Here’s what you can expect from our comprehensive training: At the end of the training, participants will be able to:-

Better understanding of governance, risk & policy formulation, and decision-making processes in the pension sub-sector.
Understand how to Build a Retirement Spending Plan.
Analyse Corporate Governance roles in the pension fund industry.
Identify the different investment opportunities that abound in the Pension Fund Scheme.
Explain the modus operandi of PFAs and Pension Fund Custodians.
Improved marketing and sales of pensions against other competing investments.
Improved risk management capability and maximisation of profitability under active fund management.
Understand the different investment opportunities that abound in the Pension Fund Scheme.
Understand how to future-proof sales, marketing, and investment strategies.
Hone existing governance, pensions design, critical thinking, and decision-making skills.
Develop broader international understanding of pensions across different jurisdictions.

Details of the Training are as follows:

Date:	Tuesday-Wednesday, 8th-9th August, 2023
Time:	10am
Mode:	Virtual
Fee	#115,000 per participant
	Special Discount*: #100,000 per participant for Members of IoD Nigeria, IoDCCG, NGX Listed Companies and Trading License Holders Multiple registrations of 3 or more participants from the same organization
Payments can be made to the account detailed below:
Account Name: IoD Centre for Corporate Governance Bank Name: First Bank Plc Account Number: 2011631341		Account Name: NGXL/X-Academy Bank Name: Guaranty Trust Bank Plc. Account Number: 0664143812

If this looks like what you might be interested in, Please register using this link – https://bit.ly/IODCCG-and-NGXXACADEMY-Training-on-Pension-Reform-Act

All enquiries should be sent via email x-academy@ngxgroup.com or taiwo.osanyin@iodccg.com.

Call Taiwo on 0816 651 7061 or Peculiar on 0817 271 2730

Regards.

July/Aug	Courses	Dates	Fee per Participant	Registration Link
1	THE NCCG 2018 and CAMA 2020 and It’s Application to ESG & Sustainability	Thursday – Friday, 20^th – 21^st July, 2023	N125,000.00-Virtual N150,000.00 – Physical	https://bit.ly/The-NCCG-2018-and-CAMA-2020
2	Stocks and Bond Processes & Investing (with Live Simulation)	Friday 21^st and 28^th July, 2023	N50,000.00 – Virtual N70,000.00 – Physical	https://bit.ly/Stocks-and-Bond-Processes-and-Investing-with-Live-Simulation-2023B
3	Derivatives Operations for Compliance and Settlement Officers	Tuesday – Thursday, 25^th – 27^th July, 2023	N85,000.00	https://bit.ly/Derivatives-Operations-for-Compliance-and-Settlement-Officers-2023
4	Effective Business Communication Mastery	Tuesday – Wednesday, 1st – 2nd August, 2023	N100,000.00 – Virtual N140,000.00 – Physical	https://bit.ly/Effective-Business-Communication-Mastery-2023B
5	Developing Customer-Focused Sales & Marketing with Retention Strategies	Thursday – Friday, 3rd – 4th August, 2023	N100,000.00 – Virtual N120,000.00 – Physical	https://bit.ly/Dev-CF-SMwith-Retention-Strategies-2023B
6	Pension Reform Act (PRA) & NCCG 2018: Potent Regulatory Tools for Prudent Financial Management & Reward System ((I0DCCG)	Tuesday – Wednesday, 8^th – 9^th August, 2023	N115,000.00	https://bit.ly/IODCCG-and-NGXXACADEMY-Training-on-Pension-Reform-Act
7	Attaining Compliance: The Roles of the Company Secretary and Compliance Officer	Thursday –Friday, 10^th – 11^th August, 2023	N100,000.00 – Virtual	https://bit.ly/Attaining-Compliance-2023B
8	Developing Excellent Customer Service	Tuesday – Wednesday, 15^th – 16^th August, 2023	N100,000.00 – Virtual	https://bit.ly/Developing-Excellent-Customer-Skills-B2023

Insurance & Pension

Stanbic IBTC Pension Managers Attributes GCR Ratings Stable Outlook To Commitment To Excellence

Published

5 months ago

May 9, 2023

Business Echo Magazine

Stanbic IBTC Holds Ladies At The Table Empowerment Series 2.0

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC, has received an Initial Management Quality Rating of MQ2(NG)(mq) with a Stable Outlook from Global Credit Ratings (GCR).

The rating demonstrated the company’s commitment to excellence in all aspects of its operations.

GCR, the rating agency, gained expertise in assessing the creditworthiness of financial institutions, corporates, and government entities, and had established itself as a leading rating agency in Africa. GCR adopted a Management Quality (MQ) rating system that ranked from the highest rating of ‘MQ1’ to the lowest rating of ‘MQ5’. These ratings served as indicators of an entity’s organizational structure, risk management capabilities, and operational controls. They also hinted at markets of the overall quality, management characteristics, and operating practices of organizations.

The MQ2 rating assigned to Stanbic IBTC Pension Managers was an indicator of the institution’s strong management team with robust organizational structures, adequate controls, and sound risk management practices. It also accentuated the company’s clear strategy and solid financial position.

In a statement, Dr. Demola Sogunle, Chairman, Board of Directors of Stanbic IBTC Pension Managers, expressed delight in the rating. He stated that it was evidence of the company’s dedication to achieving excellence in all areas of its operations.

“We are very delighted to have received this rating from GCR, which recognizes our concrete efforts to maintain the highest standards of corporate governance, risk management, and financial performance,” Demola said.

Demola noted that the rating would boost confidence among Stanbic IBTC Pension Managers’ clients and stakeholders and would affirm the company’s dynamic capability to manage risks and deliver on its commitments.

Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, attributed the rating and success of the organization to its commitment to better serve customers without compromising operational excellence.

He said, “We are a member of the Standard Bank Group, Africa’s largest banking group by assets, totaling US$170 billion, as of 31 December 2022. This feat has enabled us to leverage the Group’s resources for our portfolio management functions. Our sister company, Stanbic IBTC Bank, is also the only AAA-rated Bank in Nigeria today, lending further credence to the Group’s strength and stamina, especially in its leadership and governance structures”.

“We deliver pension fund administration and management services to over 1.9 million private and public sector Retirement Savings Accounts (RSA) holders under the Contributory Pension Scheme) through our extensive network of 29 branches and ten service centers nationwide.”

Olumide said the organization also managed defined benefit plans for large corporates and provided value-added services, including retirement planning advice and personal financial planning. He described Stanbic IBTC Pension Managers as an organization equipped with a stable and experienced management team with sound management experience to keep the organization ahead of the pack in its operations and practices.

“Our portfolio management is sound, and our investment style is value-based with a long-term bias. We implement a top-down approach in securities selection, which is monitored monthly by the executive committee. We also offer our clients transparency and ease of account access through channels such as our secure web portal, 24/7 multilingual contact center, telephone, email, SMS, and our growing loop of client experience centers,” Olumide said.

The PFA’s Chief Executive noted that the company maintained an adequate operational risk management framework. He said, “We manage cyber, and data privacy risks using internal controls reviewed annually by independent third parties to reassure all our stakeholders of our commitment to doing business correctly and safely”.

Stanbic IBTC Pension Managers is committed to maintaining the highest professional and operational standards in delivering exceptional services to its growing clientele. The company website, www.stanbicibtcpension.com, has more information on Stanbic IBTC Pension Managers.