Business

Omosehin becomes 25th NIA chairman, craves for stability


Olusegun Omosehin, managing director/CEO, Old Mutual Nigeria Life Assurance Company Ltd has assumed office as the 25th Chairman of the Nigerian Insurers Association (NIA). He was elected along with other principal officers at the Association’s 51st Annual General Meeting held in Lagos.

In his acceptance speech, the newly elected chairman urged members to support him in his quest to drive change in the industry through self-regulation and enforcement of market conduct to enable the insurance industry to take its rightful place amongst the pillars of economic growth and prosperity. This, he assured, would enable insurers earn the trust of Nigerians. to address the issues affecting the operators.

Hear him “Please remember that the change we seek must start with us as an industry. We must strengthen our capacity to self-regulate and be bold and courageous in enforcing our market conduct. This will enable us as an industry to take our rightful place amongst the pillars of economic growth and development in Nigeria.

“We must understand the importance of protecting our collective dreams and aspirations and positioning ourselves appropriately to earn the trust of our nation. A lot of work has been done in this regard by successive leadership of the association leading to national recognition for our industry, but much more is still required to be done. This will be trust earned through our demonstration of capacity, competence, integrity, and conscientiousness”.

Read also: Finance Act clears path for insurance recapitalisation

Omosehin promised to work with the insurance industry regulator in unpacking solutions that work for a developing country like Nigeria and assured that member companies will comply with extant regulations that will promote growth in the sector.

“I want to assure that we shall work closely with NAICOM in all areas, particularly in unpacking solutions that work for a developing market like Nigeria and in ensuring compliance with all extant regulations that will promote the growth and development of our industry” he assured

Other officers of the Council elected at the AGM are Bola Odukale, managing Director/ CEO, Capital Express Assurance Company Ltd as deputy Chairman; Kunle Ahmed , Managing Director/ CEO;, Axa Mansard Insurance Plc as honorary treasurer and Folashade Joseph, managing director/CEO; Nigerian Agricultural Insurance Corporation as the honorary assistant treasurer.

While Ukachi Orji, managing Director/ CEO, KBL Insurance Ltd was re-elected to the Council; Babatunde Fajemirokun – managing director/ CEO, AllCO Insurance Plc was elected to the Council.



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