Operators to President Buhari, hinge economy on insurance

From left: Director-General, Chartered Insurance Institute of Nigeria, Kola Admed; Director-General, Nigerian Insurers Association, Sunday Thomas; Planning Committee Chairperson, Insurance Industry Mega Conference, Mrs Funmi Ashaye-Babington; Chairman, Insurance Industry Consultative Council, Bola Temowo; Executive Secretary, Nigerian Council of Registered Insurance Brokers, Fatai Adegbenro;  Deputy President Chartered Insurance Institute of Nigeria, Lady Isioma Chukwuma; Managing Director, Consolidated Hallmark Insurance Plc, Eddie Efekoha and Managing Director, LAKEG Nigeria Limited, Muftau Oyegunle at the event.

.Insurance operators to celebrate Fola Daniel at mega confab

Chuks Udo Okonta

Insurance operators have called on President Muhammadu Buhari to make insurance the cornerstone of the nation’s economic vision, as risk management and mitigation remain the fulcrum of enduring economic growth.

The Chairman, Insurance Industry Consultative Council (IICC) and President Chartered Insurance Institute of Nigeria (CIIN), Bola Temowo, disclosed this today in Lagos, at a media parley organised to announced programme of events for the forth-coming Insurance Industry Mega Conference. He stressed that embracing insurance would enable government at all levels reduce financial wastes. 

He noted that the planned mega conference billed for Sunday 26 to Tuesday 28 July 2015, has the theme: Developing Insurance Business for National Growth, stressing that the theme was informed by the need to upscale the capacity of the Insurance Industry for effective performance and improved contribution to the growth of the Nigerian Gross Domestic Product, which is receiving the coordinated attention of the industry. 

Temowo noted that the emergence of new ideas to improve the relevance of the industry in all facets of the nation’s economy will be the focal point of the Conference. He added that the confab will also provide the platform for all stakeholders to discuss topical issues affecting the Insurance Industry, the Financial Services Sector and the National Economy.

"The Mega Conference represents a platform for all stakeholders to discuss topical issues affecting the Insurance Industry, the Financial Services Sector and the National Economy. 

"The Nigerian Insurance Industry being critical stakeholder in the achievement of financial inclusion for all within our economy; considers it necessary to bring together all arms of the Industry to achieve the required Insurance penetration for higher percentage of financial inclusion in the Country.

"The focus of the Conference will therefore be on the vital steps the Insurance Industry must take in the development of the business of Insurance with the objective of having a major impact in the growth of the Nation’s Economy," he said.

He maintained that the keynote address at the Conference will be delivered by the Commissioner for Insurance, Fola Daniel while the theme paper will be presented by  Frank O’Neill, Managing Director, Swiss Re, ME & A. 

He said Ven Olusola Ladipo-Ajayi, Managing Director, LASACO Assurance Plc, will speak on Regulation and Enforcement for Insurance Growth – An Assessment; Bismarck Rewane, Managing Director, Financial Derivatives Limited, Growth Options for Insurance Business in Nigeria and Sir. Benjamin Aladekomo, Director, Chams Group, Information Technology as a Strategy for Market Penetration and Expansion.

He posited that the Conference will have four Sessions to be chaired by notable insurance practitioners which include, Sunday Thomas, Director-General, Nigerian Insurers Association; Mohammed Kari, Deputy Commissioner (Technical), National Insurance Commission; Oye Hassan-Odukale, Managing Director, Leadway Assurance Company Limited, Emmanuel Okunoren, Deputy President, Nigerian Council of Registered Insurance Brokers; Muftau Oyegunle, Managing Director, LAKEG Nigeria Limited.

"The highpoint of the Conference is the Grand Ball which will hold on Tuesday, July 28, 2015 in the congress hall at Transcorp Hotel. The Grand Ball will be attended by the cream of the industry. 

"We will take the opportunity of the event to honour the Commissioner for Insurance,  Fola Daniel. It will mark an occasion to recognize and celebrate the achievements of the Commissioner for Insurance and other industry leaders who have done so much for the industry," he added.

From left: Planning Committee Chairperson, Insurance Industry Mega Conference, Mrs Funmi Ashaye-Babington; Chairman, Insurance Industry Consultative Council, Bola Temowo and Executive Secretary, Nigerian Council of Registered Insurance Brokers, Fatai Adegbenro at the event.

The Planning Committee Chairperson, Mrs. FunmiBabington-Ashaye, stressed that necessary arrangements have been made to ensure that the set objectives are achieved, stressing that at the end of the confab, communique will be issued and presented to the federal government.

The Insurance Industry Consultative Council (IICC) was established to act as the unifying voice of the insurance industry, representing the industry on national issues affecting the Insurance Industry; to be a clearing house for information about the insurance industry; act as an interfacing body between the industry and other parties as well as overseeing the resolution of intra and inter sectorial conflicts.