Modestus Anaesoronye

Lagos

Insurance and Pension Editor at BusinessDay Nigeria

Insurance & Pensions Editor @businessdayng

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Articles

How to secure your child’s future with education insurance

3 days ago | businessday.ng | Modestus Anaesoronye

The dream of most parents is to see their children have the quality of education they have planned for them. But life filled circumstances most at times change these dreams, except proper arrangements are put in place against the unexpected. This is where insurance comes in as a proactive means of securing your child’s education. It is a proactive way to reduce financial stress and ensure that your child’s future remains bright, regardless of what life may bring.
PenOp names Anthonia Ifeanyi-Okoro chief operating officer

3 days ago | businessday.ng | Modestus Anaesoronye

The Pension Fund Operators Association of Nigeria (PenOp) has announced the appointment Anthonia Ifeanyi-Okoro as its chief operating officer (COO). Anthonia brings with her over 15 years of extensive experience in business transformation, operations, and strategic delivery. She has worked in a range of high-impact roles across business member organizations and central government institutions in the United Kingdom.
Outflows drag pension assets growth to 12-month low

5 days ago | businessday.ng | Modestus Anaesoronye

Growth in pension assets dropped to a 12-month low of N61.9 billion at the end of March 2025 due to outflows. After a recovery in May 2024 from a negative position in March 2024, pension assets growth remained in an upward trend despite market fluctuations until March 2025’s sharp drop. The drop, according to analysts, in the pension industry was due to outflows from approved existing schemes.
Access ARM Pensions records 187% surge in profit for 2024

6 days ago | businessday.ng | Modestus Anaesoronye

… as AUM hits N3.5trnAccess ARM Pensions has posted strong full-year results for 2024, reporting revenues of N28.2 billion, and more than double the N12.3 billion recorded in 2023. Pre-tax profit rose by 164 percent to N15.2 billion, while post-tax profit surged by 187 percent to N10.9 billion. Assets Under Management (AUM) also climbed to N3.5 trillion.
Strong communities are built on foundation of knowledge, opportunity – Lasaco Assurance - Businessday NG

1 week ago | businessday.ng | Modestus Anaesoronye

Underwriting firm, Lasaco Assurance Plc has identified the strength in building communities through foundation of knowledge and opportunities. Lsaco Assurance is not only committed to corporate growth but also to community development through education, says Adetokun Adedayo, head of Strategy, Research and Communications of the Company.
Continental Reinsurance strengthen leadership to drive Pan-African Holding structure

1 week ago | businessday.ng | Modestus Anaesoronye

Continental Reinsurance Group has announced key leadership changes that reflect the company’s continued evolution into a Pan-African holding structure and its commitment to robust governance and strategic growth. In the new arrangement, Lawrence Nazare has been appointed GMD of Continental Reinsurance Holdings, headquartered in Botswana, while Fatai Kayode Lawal will lead the Nigeria entity in charge of Anglophone West Africa operations.
Industrial Court upholds employee rights to sue over unremitted pensions

1 week ago | businessday.ng | Modestus Anaesoronye

Olufunke Yemi, honourable justice of the National Industrial Court has uphold the rights of the National Pension Commission (PenCom) and employees to seek redress on non-remittance of pension contributions. According the court, employers who fail to remit or under-remit pension contributions are strictly liable under Nigerian law, and face limited legal defences when such matters are brought before the courts.
Ghana models Nigeria in hunger for robust marine insurance market

1 week ago | businessday.ng | Modestus Anaesoronye

Desiring to have a robust marine insurance market in Ghana, the shipping and underwriting authority in the former West Coast region are understudying the Nigeria market. This is coming as Ghana strengthens capacity to explore opportunities offered in its recently amended 50-year-old shipping law. The new legislation amends the existing 50-year-old legislation and aims to regulate the commercial activities of shippers.
Africa must embrace insurance to achieve full potential – Africa Re GMD - Businessday NG

1 week ago | businessday.ng | Modestus Anaesoronye

For Africa to realize its growth potential, the continent must embrace insurance as a core pillar of financial and development policy. Corneille Karekezi, group managing director /CEO of The African Reinsurance Corporation (Africa Re) made the remark at the recently concluded Africa CEO Forum held in Abidjan, Côte d’Ivoire where the reinsurance giant won the prestigious “PanAfrican Champion” Award.
PenCom bans vendors without evidence of pension compliance from sector

2 weeks ago | businessday.ng | Modestus Anaesoronye

…gives six months deadlineThe National Pension Commission (PenCom) has banned vendors and service providers without evidence of pension compliance from dealing with operators in the industry. PenCom in statement weekend said in furtherance of ongoing efforts to expand coverage of the Contributory Pension Scheme (CPS), it has issued a new directive to all Licensed Pension Fund Operators (LPFOs), comprising Pension Fund Administrators PFAs) and Pension Fund Custodians (PFCs).