Tender Details

Country: Nigeria
Summary: Underwriting and Management of its Insurance Policies
NGT Ref No: 52693230
Deadline: 25 May 2021
Financier: Self Financed
Purchaser Ownership: Government
Tender Value: Refer Document
Notice Type: Tender
Document Ref. No.:
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Description:
Expression of Interest are invited for Underwriting and Management of its Insurance Policies Insurance Underwriters/Brokers. In preparation for the renewal of its Insurance Policies for the second part of the year 2021 (July 1st to December 31st, 2021) the Nigerian Security Printing and Minting (NSPM) Plc. hereby invites proposals from interested reputable Insurance companies and Brokers that wish to participate in underwriting and management of its insurance policies as follows: The Policies include: (i) Fire and Special Perils (ii) Consequential loss on fire (iii) Commercial Vehicle (iv) Group Personal Accident (v) Private Motors (vi) Fidelity Guarantee (vii) Goods in Transit (viii) Marine (ix) Machinery Breakdown (x) Group Life. 2. ELIGIBILITY REQUIREMENTS All Interested Insurance Companies/Brokerage firms seeking to be considered must satisfy the following eligibility and pre-qualification criteria. (a) Be a limited liability company registered with the Corporate Affairs Commission (CAC) in Nigeria and licensed by the National Insurance Commission (NAICOM) to transact insurance and brokerage business. (b) Have a paid-up Capital of not less than N3,000,000,000.00 for General Insurance, N2,000,000,000.00 for Life Insurance and N5,000,000,000.00 for Composite Business as per its 2020 published Annual Report and Accounts etc. (c) Satisfy the margin of solvency requirements as prescribed by the Insurance Act 2003. (d) Be a good corporate citizen of Nigeria that pays its taxes as at when due. (e) Fulfill all statutory requirements to operate the class of insurance business as registered. All bidders must submit the following documents as evidence to satisfy A to E above; (i) Certified True Copies of the certificate of Incorporation obtained from the Corporate Affairs Commission within the last twelve months ending and CAC forms C02 (Statement of Share Capital Return of Allotment) and C07 (Particulars of Directors) (ii) Certified True Copy of National Insurance Commission (NAICOM) of the company-s current license to operate the class of business it intends to bid. (iii) Company-s NAICOM approved and published Annual Audited Accounts and Reports for the year ending 2018, 2019, 2020.
Documents:

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Underwriting and Management of its Insurance Policies - Nigeria Tender

The THE NIGERIAN SECURITY PRINTING AND MINTING PLC, a Government sector organization in Nigeria, has announced a new tender for Underwriting and Management of its Insurance Policies. This tender is published on NigeriaTenders under NGT Ref No: 52693230 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2021-05-25.

The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.