Universal Insurance Unveils Product for Shop Owners

Image

By Adedapo Adesanya

Determined to mitigate losses associated with fire disasters concerning micro-businesses, Universal Insurance Plc has launched Shop Insurance Retail Product, tailored for shop owners in the country.

The underwriter is carrying out this cover in conjunction with T.A. Braithwaite Insurance Brokers.

The relationship, according to the company, is aimed at opening more avenues for the sale of its Fire and Special Perils Products.

The insurer said developing the product became necessary considering the fact that most shop owners do not embrace insurance and need to protect their goods and properties against fire and special perils in the country.

While speaking at the unveiling of the product, the Managing Director of Universal Insurance Plc, Mr Benedict Ujoatuonu, promised prompt payment in line with the company’s tradition and urged shop owners to take advantage of benefits provided by the unique product.

In his remarks, the Managing Director of T.A. Braithwaite Insurance Brokers, Mr Akintunde Aturu thanked Universal Insurance for the opportunity to partner with the company and also expressed his belief that shop owners stand to benefit a lot from the Shop Insurance product.

Universal Insurance Company Plc is located in Lagos, Nigeria and is part of the Insurance Carriers Industry.

The company has 82 employees at this location and generates $4.04 million in sales.

Share
Related Stories
Image
29-February-2024

Aradel Holdings, CSCS, FrieslandCampina Sink NASD Exchange by 0.79%

By Adedapo Adesanya Profit taking in the trio of Aradel Holdings Plc, Central Securities Clearing System (CSCS) Plc, and FrieslandCampina Wamco Nigeria Plc made the NASD Over-the-Counter (OTC) Securities Exchange close the midweek session further in the red territory on February 28 by 0.79 per cent. Aradel Holdings Plc lost N20.50 to close at N2,500.00 per share compared with the previous day’s N2,520.50 per share, CSCS Plc depreciated by N1.35 to end the day at N18.65 per unit versus the N20.00 per unit it was traded on Tuesday, and FrieslandCampina Wamco Plc declined by 63 Kobo to N70.25 per share

Image
01-March-2024

Oil Down as US Inflation Signals Weak Crude Demand

By Adedapo Adesanya  Oil was down on Thursday as inflation data in the United States implied a softening of the world’s biggest economy that could weaken crude demand. Brent futures went down by 6 cents to $83.62 a barrel and the US West Texas Intermediate (WTI) futures depreciated by 28 cents to $78.26 a barrel. The US Federal Reserve’s preferred inflation gauge, the US Personal Consumption Expenditures (PCE) index, showed January inflation in line with economists’ expectations. The index rose 0.3 per cent last month, the Commerce Department’s Bureau of Economic Analysis said. Data for December was revised lower to

Image
29-February-2024

Crude Oil Mixed on Undecided US Interest Rates Move, High Inventories

By Adedapo Adesanya Crude oil futures settled mixed on Wednesday after the US Federal Reserve held firm on its decision to hold off cutting interest rates soon while growing crude stockpiles in the world’s largest producer added further pressure. Brent crude futures settled 3 cents higher, or up 0.04 per cent at $83.68 a barrel while the US West Texas Intermediate futures (WTI) settled 33 cents lower, or down 0.42 per cent at $78.54. The market was unsteady over signs that interest rates in the world’s largest economy would remain elevated. US Federal Reserve Bank of New York President John

Image
29-February-2024

Naira Gains as Binance, Others Halt USDT, USDC Exchanges Amid Crackdown

By Adedapo Adesanya The Naira appreciated against the US Dollar in the foreign exchange (FX) market on Wednesday, February 28 as crypto exchanges like Binance, will no longer allow users to buy the US Dollar Tether (USDT) and US Dollar Coin (USDC) stablecoins with Naira after renewed scrutiny from the Nigerian government. The regulatory crackdown continued in the Nigerian FX market as the country moved to aggressively suppress the activities of spectators and traders across digital platforms. On Wednesday, the Nigerian government tricked two executives of Binance – an American and a British Pakistani into the country for a meeting

More Stories
Image
26-September-2021

Making Money as a Short-Term Investor

By FBNQuest If you are looking to invest some money that you intend to use in the not-so-distant future, then you face the challenge of the delicate balance between making a decent return on your investment and ensuring that you can get all of it back when you need it. In seeking a place to invest or save your cash for the short term, your priority should be for you to get your money back at a particular time. This is crucial because you often need to have the money in a specific time to meet obligations such as a

Image
27-December-2018

MTN Pays CBN $53m to Settle $8.1b CCI Dispute

By Dipo Olowookere Leading telecom firm, MTN Nigeria, has confirmed paying the sum of $52.6 million (about N19.2 billion) to the Nigerian government through the Central Bank of Nigeria (CBN). In a statement issued by the company on Monday, it was disclosed that the money was paid as part of ways to resolve the dispute over the $8.1 billion the central bank accused MTN Nigeria of moving out of the country to South Africa illegally from 2007 to 2015. However, MTN Nigeria has maintained severally that it did not illegally repatriate the funds to its parent country. It was disclosed

Image
06-March-2019

T-Bills Market Bearish as CBN Further Cuts Rate by 0.03%

By Dipo Olowookere The average yields of treasury bills traded at the secondary market closed at 13.26 percent on Tuesday after increasing by 0.46 percent. This was as negative sentiment at the market continued yesterday with yields rising across all maturities. Business Post reports that the one-month paper appreciated by 0.45 percent, the 3-month note by 0.97 percent, the 6-month bill by 0.56 percent, the 9-month debt instrument by 0.19 percent and the 12-month paper by 0.14 percent. At the market yesterday, the Central Bank of Nigeria (CBN) continued with its Open Market Operations (OMO) interventions. The apex bank offered

Image
21-January-2021

WhatsApp Shifts Deadline for New Policy Update Terms

By Adedapo Adesanya WhatsApp has announced that it is moving forward the date for the acceptance of its new terms and conditions to May 15 from February 8. When the platform announced a few days ago that it would delete accounts of users who fail to accept the new terms, it led to criticisms, causing some to migrate to other less popular but equally functional platforms such as Telegram, Signal, among others. In response to all the concerns and confusion, the app owned by Facebook said it has cancelled the February 8 deadline for users to accept these rules, thus

Image
31-July-2018

Kris Rinne Joins Synchronoss Technologies Board

By Modupe Gbadeyanka Synchronoss Technologies, Inc. (NASDAQ:SNCR), a global leader and innovator of cloud, messaging, digital and IoT products and platforms, has announced the election of Kris Rinne to Synchronoss’ board of directors. Rinne, who held a number of senior executive positions at AT&T’s family of companies over the course of almost four decades, most recently served as senior vice president, network and product planning, at AT&T Services, Inc. In this role, she was responsible for leading the team charged with planning the technology evolution of AT&T’s global IP backbone, the wireless network, wireless device requirements and certification, as well

Image
22-June-2023

Electricity Customers in Nigeria Hit 11.27 million

By Adedapo Adesanya The number of customers under the 11 licensed Electricity Distribution Companies (DisCos) in Nigeria increased from 11.06 million in the fourth quarter of 2022 to 11.27 million in the first three months of 2023. This is according to the National Bureau of Statistics (NBS) in its Nigeria Electricity Report for Q1 2023 released in Abuja on Wednesday, which showed an increase of 1.89 per cent. The report focuses on energy billed, revenue generated, and customers by Discos under the reviewed period. The report said on a year-on-year basis, customer numbers in Q1 2023 increased by 5.99 per

Image
29-September-2017

World Bank Lauds Ogun’s Agric Development Drive

By Modupe Gbadeyanka The industrialisation and agricultural development drive of the Ogun State government has been commended by the World Bank. The bank gave the commendation during a meeting with officials of the government in continuation of its assessment tour of the state, pledging to further support the Mr Ibikunle Amosun administration’s development agenda. Leader of the team, Mr Kofi Nouve, who described Ogun State as one of the leading states in terms of promoting agriculture and industrialisation in Nigeria, said that the purpose of the visit was to assess the state government’s projects and explore areas of financial and

Image
25-January-2017

NSE Accepts 5.97m Units of SIAML Pension ETF 40

By Modupe Gbadeyanka SIAML Pension ETF 40 has been admitted into the daily official list of the Nigerian Stock Exchange (NSE). Business Post reports that the NSE accepted 5.97 million units of SIAML Pension ETF 40 at a par value of NGN100 per unit. It was gathered that the issuer appointed Stanbic IBTC Securities Limited (SISL) as Liquidity Provider to facilitate secondary market liquidity on the product. The NSE Pension 40 Index was launched in July 2015 and it contains top 40 companies in terms of market capitalization and liquidity that conform to PENCOM regulations on investment of pension fund

Ad
Ad
Recent Stories
Image
01-March-2024

Unlisted Securities Remain in Negative Territory by 1.36%

By Adedapo Adesanya Correction at the NASD Over-the-Counter (OTC) Securities Exchange continued as it recorded a 1.36 per cent loss on Thursday, February 29. The bourse lost N21.34 million of its value during the trading session to close at N1.542 trillion compared with the preceding day’s N1.564 trillion and the NASD Unlisted Security Index (NSI) went down by 15.74 points to end the day at 1,138.05 points versus Wednesday’s 1,153.79 points. Yesterday’s decline was influenced by Aradel Holdings Plc, which further suffered further profit-taking, causing its price to drop N98.25 to close at N2,401.75 per share versus the preceding session’s

Image
01-March-2024

Naira Firms to N1,595/$1 at NAFEX, Weakens to N1,500/$1 at Black Market

By Adedapo Adesanya The Naira ended a tumultuous February as it recorded a price appreciation f 0.09 per cent or N14.40 against the US Dollar on Thursday, February 29, in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data obtained from the FMDQ Securities Exchange showed that the value of the local currency closed at N1,595.11/$1 during the session compared with the preceding day’s N1,609.51/$1. Also, the Nigerian currency improved its value against the Pound Sterling in the official market yesterday by N20.34 to close at N2,046.19/£1 compared with the preceding session’s N2,066.53/£1 and strengthened against the Euro by N16.5 to

Image
01-March-2024

Oil Down as US Inflation Signals Weak Crude Demand

By Adedapo Adesanya  Oil was down on Thursday as inflation data in the United States implied a softening of the world’s biggest economy that could weaken crude demand. Brent futures went down by 6 cents to $83.62 a barrel and the US West Texas Intermediate (WTI) futures depreciated by 28 cents to $78.26 a barrel. The US Federal Reserve’s preferred inflation gauge, the US Personal Consumption Expenditures (PCE) index, showed January inflation in line with economists’ expectations. The index rose 0.3 per cent last month, the Commerce Department’s Bureau of Economic Analysis said. Data for December was revised lower to

Image
01-March-2024

Local Stock Market Rebounds, Closes Last Day of February 0.68% Higher

By Dipo Olowookere The last trading session of February 2024 at the Nigerian Exchange (NGX) Limited ended on a positive note as it rebounded by 0.68 per cent after the interest rate hike scare. The growth posted on Thursday was triggered by bargain-hunting in financial stocks, especially those selling at cheaper prices after the sell-offs in the past few sessions. However, profit-taking persisted in the other sectors of the bourse, with the energy, and consumer goods indices closing lower by 0.33 per cent, and 0.18 per cent, respectively. Business Post reports that the banking space rose by 6.14 per cent,

Image
29-February-2024

EnjoyCorp Buys Heineken’s Stake in Champion Breweries

By Adedapo Adesanya EnjoyCorp Limited, a holding company established for food, beverage and hospitality brands, has reached an agreement with Heineken B.V., to acquire its entire shareholding in The Raysun Nigeria Company Limited. The firm holds an 86.5 per cent stake in Champion Breweries Plc, a leading regional brewer listed on the Nigerian Exchange (NGX) Limited. The proposed transaction is subject to obtaining requisite regulatory approvals and the parties expect to close the transaction in the second quarter of this year (Q2 2024). EnjoyCorp intends to keep Champion Breweries Plc listed on the NGX. Heineken will continue to support Champion

Image
29-February-2024

Nigerian Navy Impounds Stolen N8.6bn Crude, Others in Three Weeks

By Adedapo Adesanya The Nigerian Navy, through the Troops of Operation Delta Sanity, has deactivated 41 illegal refining sites and impounded stolen crude oil and other products worth N8.6 billion in three weeks. The Director of Naval Information, Mr Adedotun Ayo-Vaughan, a Rear Admiral, made the disclosure in a statement, saying that various Nigerian Navy platforms were deployed for the operation meant to combat oil theft and illegal oil bunkering plaguing Nigeria’s maritime environment. He said that between February 5 and February 22, a total of 51 wooden boats and three fibre ones were apprehended, while 104 illegal refining ovens,

Image
29-February-2024

The Future of Blockchain and Cryptocurrency in the Online Gambling Industry

The online gambling industry, characterized by its rapid evolution and global reach, has established itself as a dynamic and lucrative sector. With millions of enthusiasts partaking in diverse gambling activities, ranging from casino games and sports betting to poker and more, it has transcended geographical boundaries and time zones. The allure of convenience, accessibility, and the thrill of gaming from the comfort of one’s own space has fueled its relentless growth. As technology continues to redefine the boundaries of the digital world, the online gambling sector finds itself at the forefront of innovation, poised for further expansion and transformation. The

Image
29-February-2024

We Need Investment in Mass Transit After 50% Drop in Petrol Imports—Tinubu

By Aduragbemi Omiyale President Bola Tinubu has disclosed that Nigeria has reduced the importation of premium motor spirit (PMS), commonly known as petrol, by 50 per cent since his administration announced an end to fuel subsidy last year. On Monday 29, 2023, during his inaugural speech in Abuja, Mr Tinubu declared that “fuel subsidy is gone” and almost immediately, the price of the product went up across the country. Before his announcement, a litre of petrol was selling at N165 but at the moment, it sells between N568 per litre and N650 per litre, depending on the location and fuel

Image
29-February-2024

Navigating the Complex World of Investing: What Novices Need to Know

Have you finally decided to take the leap into the exciting arena of investing? Not only is this an excellent way to secure a lucrative nest egg for the future, but many have begun to use these opportunities as a springboard for their businesses. However, appreciating the intricacies of online trading is no easy task. A great deal of preparation will be required and mistakes can occur on occasion. This is why knowing where to begin is one of the best ways to establish strong foundations. Let us therefore cut through a fair amount of “fluff” and examine a handful

Image
29-February-2024

No Going Back on Reforms—Tinubu

By Adedapo Adesanya President Bola Tinubu has said there is no going back on the reforms embarked upon by his government that have led to the hike of essential goods and services in the country. He made this known as he inaugurated the Red Line Rail Project in Lagos on Thursday. The project, an intra-state rail service, is aimed at improving transportation within the city and spans 37 kilometres. Speaking while inaugurating the project, the President reiterated his administration’s commitment to improving the nation’s infrastructural development. He said, “But this revolution that has started, this reform that is ongoing, we