BIBA admits NCRIB as affiliate

President Nigerian Council of Registered Insurance Brokers (NCRIB), Ayodapo Shoderu (2nd Left) in a handshake with the Chairman, British Insurance Brokers Association (BIBA), Lord Hunt. With them are, Kayode Okunoren (right) and Shola Tinubu, Deputy and Vice Presidents of the NCRIB respectively, during the 2014 BIBA Conference in Manchester, United Kingdom.

Chuks Udo Okonta

 

The quest for greater international relevance by the Nigerian Council of Registered Insurance Brokers (NCRIB) has begun to yield dividends with the admission of the Council as an affiliate of the British Insurance Brokers Association (BIBA).

A statement by Director Corporate Affairs NCRIB, Tope Adaramola, said the affiliation has paved way for better exchange of market information and human capital development between the two professional institutions.

He noted that while conveying the admission after a special session with Nigerian delegation to the 2014 BIBA Conference held in Manchester, United Kingdom; the Chairman of BIBA, Lord Hunt said through the synergy, the two professional bodies could now latch on each other’s strength to grow insurance broking in their different jurisdictions.

According to him, Hunt, who was a former UK Science Minister, opined that the contemporary challenge of technology and global business had placed insurance business at the centre stage in the scheme of things, necessitating the dire need for strong international synergies across insurance professionals in the world.

Hunt noted that the world of insurance and pensions have become highly complicated and as a result made insurance brokers and similar intermediaries more relevant than they had ever been.

He said that the market basis between UK and Nigeria was similar in so many ways; hence the two climes must look unto each other for continuous guidance.   

From left: President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Ayodapo Shoderu  in a handshake with the Chairman of British Insurance Brokers Association (BIBA), Lord Hunt during the 2014 BIBA Conference held in Manchester, United Kingdom.

President of NCRIB, Ayodapo Shoderu, said the need to grow the Nigerian insurance broking practice across international borders informed his administration’s focus on global synergies, noting that the new BIBA affiliation will provide a leeway for insurance brokers under the aegis of the Council to develop greater capacity.

He appreciated BIBA for acceding to the request for affiliation which was made during his recent visit to the Association, noting that the development would place NCRIB and its members in a better pedestal in terms of professionalism and market exposure.