Sovereign Trust Insurance backs CIIN's lofty ideas

Chuks Udo Okonta

The Managing Director of Sovereign Trust Insurance Plc, Wale Onaolapo, who is also the Chairman Media and Publicity of the Chartered Insurance Institute of Nigeria (CIIN) has reiterated the company’s commitment to upholding the Institute’s ideals of promoting Knowledge, Trust and Efficiency amongst practitioners of the Insurance business both within and outside the shores of the country.

Onaolapo, made the pledge at a retreat organised by the institute in Lagos, where the CIIN, set in motion a Strategy Advisory Exercise to identify key issues bordering on the growth and advancement of the Insurance Industry in the country and amongst other things articulate actionable solutions and delineate key strategic imperatives for  a workable framework in the next five years and beyond.  

The event which was facilitated by one of the foremost renowned Management Consultants in the country, KPMG, provided an avenue for certain key economic agenda that could aid the growth and engender relevance for the Insurance Industry in Nigeria to be  x-rayed particularly at the advocacy level which has been considered one major area that the Institute should concertedly work towards in entrenching an enduring insurance culture amongst Nigerians at all levels. 

The Retreat also provided a platform for participants to incubate ideas that will chart a new course for the Institute in its resolve to achieving the status of a Mega Institute. The Special Retreat had in attendance Chief Executives of Insurance Companies in the country, stakeholders from Allied Sectors of the Industry, Financial Services and a cross section of members of the Institute’s Governing Council.

 Director General of the Institute Kola Ahmed, said the Strategy Advisory Exercise is necessitated by the CIIN Governing Council’s continuous commitment to the actualization of the Institute’s statutory responsibilities as enshrined in Act 22 of 1993 of the Federal Republic of Nigeria; the chief of which is the determination of the standards of skill and knowledge to be possessed by practitioners for the ethical and professional delivery of insurance services in a dynamic and peculiar Nigerian business environment.

 Ahmed also expressed the Institute’s appreciation to the Management of Sovereign Trust Insurance Plc, for bringing into fruition the hosting of the Retreat in the history of the Institute’s life cycle. 

He urged other Chief Executives in the Industry to borrow a leaf from Sovereign Trust Insurance Plc by actively supporting the cause of the Institute from time to time in ensuring that the vision of remaining a relevant Professional Body amongst the Comity of Professional Bodies in the country is sustained in an enviable manner.