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    Daily Independent: Nigeria: Insurers Tackle Capital Flight With N720 Million Oil, Gas Pool

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Summary

As part of efforts to retain capacity in oil and gas underwriting and curb capital flight EAIPN has commenced operations with 14 insurance companies

by: Sruthi

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Press Notes, Africa

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Daily Independent: Nigeria: Insurers Tackle Capital Flight With N720 Million Oil, Gas Pool

As part of efforts to retain capacity in oil and gas underwriting, curb capital flight and grow the local market in energy and allied risks underwriting, the Energy and Allied Risks Insurance Pool of Nigeria (EAIPN) has commenced operations with 14 insurance companies contributing $4 million (about N720 million).

Chairman of the Technical Board of EAIPN, Mr. Wole Oshin, disclosed this after the inauguration of the Technical Management Board of the Pool by the Commissioner for Insurance, Mr. Fola Daniel, in Abuja recently.

Oshin informed that the Pool currently has 14 subscribers, who have contributed 40 per cent of their subscribed lines amounting to $4,000,000.
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