In a bid to foster collaboration and drive growth in the insurance sector, the new Commissioner for Insurance (CFI), Mr. Olusegun Omosehin expressed his commitment to building a robust and stable insurance sector that prioritizes the protection of policyholders and the beneficiaries of insurance policies in general. He stated this during his visit to the NIA Secretariat to meet with all the CEOs of insurance companies in the industry.

Omosehin reechoed the mission of NAICOM, which is to ensure that the insurance sector operates in a safe and sound manner, fostering trust among members of the public, and promoting compliance with industry regulations by the operators. He stressed that his administration agenda is in alignment with President Bola Tinubu’s agenda to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation. He stated that efforts will be geared towards increase in insurance penetration in Nigeria as well as prompt settlement of claims and the execution of the 10-Year Insurance Industry Transformation Roadmap that was put together by all arms of the industry. He thus enjoined the stakeholders to take compliance issues seriously with a promise to facilitate inter-relations with government agencies to promote collaboration and regulatory efficiency.

The Chairman of the NIA, Mr. Kunle Ahmed, appreciated the Commissioner for Insurance and other members of his team for their visit and pledged the commitment of the Association to work together with the Commission and other arms of the industry towards the growth and development of the insurance industry in Nigeria.