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http://ift.tt/eA8V8J By Favour Nnabugwu THE African Aviation Pool recorded a dip in gross premium income by 34.5 percent at the end of December 31, 2016 to US$741,172 from US$996,610 posted in 2015 due to fall in premium rates. The subscribed capacity of the pool as reported at the 2017 African Insurance Organisatin (AIO) conference in Kampala, Uganda, stood at $8,110,000 in 2016 against $7,960,000 posted in 2015 while compound annual premium growth rate was 25.59 percent over the period 2012 through to 2016. The pool’s membership currently stands at 53 while the structure of the Excess of Loss retrocession programme was maintained this year with Lloyd’s syndicate, Cathedral, as leader for first and second layers. The Pool’s bank balance as at December 31, 2016 stood at US$292 billion against US$277.4 billion recorded the previous year.  An emerging trend of gradual withdrawal of capital from the market is taking place as a number of underwriters are taking a much tougher stan...

http://ift.tt/eA8V8J By Peter Egwuatu TOTAL Nigeria Plc has assured its shareholders of improved performance in 2017, as it re-strategises to consolidate in the downstream petroleum sector. Notwithstanding the economic down turn experienced in the financial year 2016, the company declared a total dividend of N5.8 billion, translating to N17.00 per share. Chairman of Total Nigeria Plc, Mr. Stanislas Mittelman, while addressing shareholders at the 39th Annual General Meeting, AGM, held in Lagos, weekend, said that the company will re-strategise operations and invest more in the downstream sector in order to continue to maintain the market leadership. According to him “2016 was a year of economic and social challenges. Despite these challenges, the company’s turnover increased by 40 per cent to N291 billion from N208 billion in 2015; profit after tax increased by 266 per cent to N14.8 billion from N4.05 billion in 2015; interest expense was N0.9 billion and 52 per cent lower than...