The Chairman of the Nigerian Insurers Association (NIA), Kunle Ahmed, has urged insurance company chief executives to prioritise the effective implementation of the Nigeria Insurance Industry Reform Act (NIIRA) through close collaboration among operators, regulators, and other key stakeholders. In a New Year message to industry leaders, Ahmed praised the resilience and collaborative spirit of insurers, crediting them with strengthening public confidence and advancing market development throughout 2025.
Ahmed made the call in his New Year message to industry CEOs, describing the signing of the NIIRA into law in 2025 as a major milestone for the insurance sector. According to him, the Act provides a stronger framework for increased insurance penetration, improved governance, and sustainable industry growth. He assured members that the Association would continue to provide support through sustained advocacy, regulatory guidance, capacity-building initiatives, and plans to establish a recapitalisation help desk to assist companies during the transition process. Expressing optimism about the industry’s outlook, the NIA Chairman said that with sustained cooperation, transparency, and shared responsibility, the sector is well positioned to consolidate the gains recorded in 2025 and usher in a new era of growth and renewed public trust.
Ahmed thanked industry stakeholders for their continued support and expressed confidence in deeper collaboration in 2026, while wishing insurance operators a prosperous, peaceful, and successful New Year. He also commended insurance company leaders for their commitment to client satisfaction, resilience, and collaboration, noting that these attributes were central to the significant progress recorded by both the Association and the Nigerian insurance industry in 2025.
According to him, the past year was transformative for the NIA, as a range of strategic initiatives helped deepen market development, enhance public confidence in insurance, and strengthen stakeholder engagement. He highlighted key achievements such as the launch of the NIA Innovation Lab, sustained advocacy for the enforcement of compulsory insurance policies, and continuous engagement with the industry regulator, which resulted in improvements to regulatory circulars. He added that the Association also expanded collaboration with institutions including the National Assembly, the Economic and Financial Crimes Commission (EFCC), and sister associations to foster a more enabling business environment.