About Anthony SarpongAnthony Sarpong is a partner in our Audit Division and he has responsibility for managing the clients and engagements in the financial services sector, consumer markets and Information Communication and Entertainment audit business unit (CM) in Ghana. Prior to Joining KPMG Nigeria, Anthony was a Partner of KPMG Ghana.
Author Archive | Anthony Sarpong
The Nigerian insurance industry players are structured into four groups: insurers and reinsurers, insurance brokers, agents and loss adjusters. The insurance and reinsurance companies underwrite risks while the insurance brokers and agents act as intermediaries between the underwriters and the policyholders in the sale of insurance products and the collection of premiums. The loss adjusters, on the other hand, determine the appropriate valuation of the loss incurred in the event of a claim.
Nigeria’s insurance industry has witnessed positive changes in recent times, arising from the new reforms embarked upon by the National Insurance Commission (NAICOM), the primary regulator of the Nigerian Insurance Industry. The country’s insurance market is the largest in the West Africa sub-region, however the penetration is currently considered very low when compared with the population of over 165 million people.