Insurer for NNPC Oil Assets and Aviation 2011 at Nigerian National Petroleum Corporation (NNPC)

Nigerian National Petroleum Corporation

NNPC Towers, Herbert Macaulay Way, Central Business District,

P.M.B. 190, Garki, Abuja – Nigeria.

Invitation for Technical Bid as an Insurer for

NNPC Oil Assets and Aviation 2011

The Nigerian National Petroleum Corporation is desirous of calling for bids from registered Insurers in Nigeria as the Insurer for its Oil and Aviation insurance programme.

All interested Insurance Companies seeking to be considered must satisfy the following conditions:

1. Be a Limited Liability Company registered in Nigeria and licensed by the National Insurance Commission to transact general insurance business.
2. Have a net asset of not less than N7.0 billion as per its latest published Accounts for its general insurance business.
3. Have acquired good experience in energy and aviation insurance business.
4. Have adequate and qualified staff with experience in energy and aviation insurance business.
5. Must be in good standing with NNPC as regards prompt settlement of all claims reported up to 30^th September, 2010.
6. Have business relationship with competent Reinsurance Broker(s) with good experience of energy and aviation business and access to the international markets.
7. Be a good corporate citizen of Nigeria that pays its taxes as and when due.

The interested Insurer must submit the following documents:

1. A certified true copy of the certificate of incorporation obtained from the Corporate Affairs Commission.
2. A true copy certified by NAICOM of the Company’s Licence as an Insurer to transact general insurance business.
3. Evidence of Leading in at least 1 major Energy and Aviation account.
4. Company’s published Annual Report and Accounts for 2009, 2008 and 2007.
5. NAICOM’s approval of annual returns and accounts for underwriting year ending 31^st December, 2009.
6. A profile of 5 (five) technical and a minimum of (two) top management staff of the Company with their qualifications and insurance working experience in energy and aviation insurance business.
7. A signed Declaration by the Chief Executive Officer that the Company has settled all NNPC claims as at 31^st September, 2010.
8. Name, address and profile of the Reinsurance Broker(s) that handle the Insurer’s energy and aviation reinsurance business in the past 12 months.
9. Company’s Tax Clearance Certificates for 2009, 2008 and 2007.
10. A written statement of not more than one page signed by the CEO of the strategy the Company will employ in securing the NNPC Oil and Aviation Assets.

All interested and qualified Insurer wishing to apply must do so in writing accompanied by Three (3) copies of the bound application and supporting documents in a sealed envelope clearly marked as “Technical Bid for Primary Insurer for NNPC Oil and Aviation Insurance 2011” and forward to:

The Secretary,

Headquarters Tender Committee,

Block A, 4^th Floor, Room 415,

NNPC Towers,

Herbert Macaulay way,

Central Business District Abuja, FCT.

The submission should reach the Secretary by 2:00P.M (Nigerian Time) on or before Friday 26^th November, 2010

This notice and pre-qualification process shall not place any commitment on NNPC nor establish any legal relationship whatsoever. No communication will be entered into with any unsuccessful applicant.

Signed:

Management

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