Oil & Gas
By Anthony Isibor
THE Nigerian National Petroleum Company limited, NNPC Ltd. is inviting interested Insurance Companies registered in Nigeria, to bid as Insurer for its Non-Oil Assets and Liabilities Insurance Programme for the 2024/2025 period.
According to a statement signed by its management and posted on its official X handle @nnpclimited, on Thursday Oct 05, 2023, interested parties must ensure that all submissions are completed electronically via the NIPEX Tender Portal on or before 12:00 Noon Monday 13th November 2023.
“Bidders who have submitted their bids and external observers shall be invited to attend the virtual live-stream bid opening session.” the statement added.
According to the information found on its website, the contract(s) for the insurance of the Non-Oil Assets and Liabilities shall be awarded to the successful bidder(s) for a period of 12 months.
The classes of insurance include but not limited to:
a) LIFE (Group Life)
b) NON – LIFE [Automobiles, Group Personal Accident, Travel Medical, Marine Cargo, Goods-in-Transit, and Combined Industrial All Risks (Fire and Special Perils, Burglary, Marine Hull, Electronic Eqipment, and General Third Party Liability)]
ELIGIBILITY CRITERIA
All interested Insurance Companies seeking to be considered must satisfy the following eligibility and prequalification criteria:
A. Be a Limited Liability Company registered with the Corporate Affairs Commission (C.A.C) in Nigeria and licensed by the National Insurance Commission (NAICOM) to transact Life or General Insurance business or both.
B. Have a minimum Paid up Capital as approved by NAICOM for the different classes of Insurances.
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 as an Insurer in the Nigerian Oil and Gas Industry.
In compliance with the NNPC Ltd Supply Chain Management Policies and Procedures, NNPC LTD hereby invites qualified Insurers interested in this bid to submit the following documents as evidence to satisfy A to E above:
1. Certified True Copy of the Certificate of Incorporation obtained from the Corporate Affairs
Commission (CAC) within the last twelve months ending November 2023 and CAC status report generated within 3-months of bid submission.
2. Certified True Copy by National Insurance Commission (NAICOM) of the Company’s current Licence as an Insurer to transact the class of business it intends to bid within the last twelve months ending November 2023.
3. Company’s published Annual Audited Accounts and Reports for the years ending 2020, 2021 and
2022.
4. NAICOM’s approval of Annual Audited Accounts and Returns for underwriting year ending 31st December, 2022.
5. Copy of the Tax Clearance Certificate issued by the Federal Inland Revenue Service for the past three (3) years 2020, 2021 and 2022. (Receipts not acceptable). Certification must be valid up to 31st December, 2023.
6. Certificate of Compliance with the provisions of the Pension Reform Act, 2014 issued by the National Pension Commission (PENCOM) expiring not earlier than 31st December, 2023.
7. Employee Compensation Scheme (ECS) Clearance Certificate as evidence of compliance with the provisions of the Employee Compensation Act 2010 issued by Nigerian Social Insurance Trust Fund expiring not earlier than 31st December, 2023 (Receipts not acceptable).
8. Evidence of Certificate of compliance with the provisions of Industrial Training Fund (ITF) Act 2011 as issued by the ITF expiring not earlier than 31st December, 2023.
9. Relevant certificate of registration with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) expiring not earlier than 31st December, 2023.
10. Evidence to prove number of relevant years of experience in Life and General insurance business. (A minimum of ten (10) years’ experience in Life and General insurance business is expected) Please attach reference letters; copies of letters of awards including client’s company full contact details (Not P.O.Box), functional phone numbers and e-mail address.
11. Current and in-place organizational structure. Experience and skills of management and technical personnel with one-page resume showing companies worked for with dates provided for each class of business the Insurer intends to bid.
12. Evidence of current Re-Insurance program.
13. Copy of signed 2020/2021, 2021/2022 and 2022/2023 domestic and/or foreign reinsurance slips for your non-oil assets accounts.
14. Evidence of payment of 2020/2021, 2021/2022 and 2022/2023 reinsurance premiums for your non-oil assets accounts.
15. A prospective bidder shall provide a sworn affidavit to support action as follows:
a) To allow NNPC LTD to verify all claims made in your submission.
b) To allow NNPC LTD to verify that your organization is not in receivership, nor the subject of any form of insolvency of bankruptcy proceedings or the subject of any form of winding up petition or proceedings.
c) To confirm that the company is not a replacement for a hitherto tax defaulting company.
d) Disclosing whether or not any officer of the relevant committees of NIGERIAN NATIONAL PETROLEUM COMPANY LIMITED is a former or present Director, shareholder or has any pecuniary interest in the bidder.
e) To confirm that all information presented in its bid are true and correct in all particulars.
f) To confirm that your company does not have any Director who has been convicted in any country for a criminal offence relating to fraud or any financial impropriety or criminal misrepresentation or falsification of facts, relating to any matter.
16. All documents for submission must be transmitted with a duly signed covering/forwarding letter by the authorized officer of the firm under the Company/Firm’s letter head paper bearing amongst others, the Names and Nationalities of the Directors of the Company, the Registration Number (RC) as issued by the Corporate Affairs Commission (CAC), Contact Address, Telephone Number (preferably GSM No.) and Email Address.
17. PLEASE NOTE: Insurers with outstanding indebtedness to NNPC LTD older than one (1) year from the date of discharge should not apply. Among others.
The statement also urged Bidders to visit its official website; cms1977.nnpcgroup.com/uploads/INSURA… for detailed eligibility criteria, classes of insurance, required documentation, and other pertinent information.
A.
-October 05, 2023 @ 11:35 GMT |
Tags: Nigerian National Petroleum Company Limited NNPC Ltd
