Chuks
Udo Okonta
Executive
Director, Business Development, Mutual Benefits Assurance plc, Gbenga Ogunko,
has called on insurance operators to rally round the National Insurance
Commission (NAICOM) to drive the different reform programmes going on in the
sector.
He
spoke at a meeting with the National Association of Insurance Correspondents
(NAICO) in Lagos, adding that the industry holds a lot of potential that was
yet untapped. He stressed that the coming together with a strong pool will give
the industry the capacity to play actively in the oil and gas sector, energy
and power where a lot of premium flight is taking place in the country.
He
noted that the local content development programme is not having reasonable
impact on the sector due to the disunity among operators and suggested that
operators should work together and share risks instead of working as individual
companies
Ogunko
who was passionate about the achievements of the current leadership at the NAICOM,
particularly the recent policy on “No Premium No Cover” which impact has
positively translated to healthier industry in terms of liquidity called for
increased support by all stakeholders.
“As an industry, let us rally round the
Commissioner for Insurance and his team to encourage them for more
developmental policies and programmes that would hold move the industry forward
“Insurance
industry is number one sector in government’s vision 20:200 project, meaning
that everyone is looking unto the insurance sector to contribute more
significantly in the economic programmes of the government,” he said.
Ogunko
further commended the efforts of the Commission in instilling “Know Your
Customer” (KYC) policy to check money laundry activities in the industry,
pointing that all of these tell you how important insurance sector is becoming
in Nigeria and why government is taking special interest in the sector.
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