Business News

NAICOM Advocates Stronger Institutions For Sustainable Future


By Adedapo Adesanya

The new National Commissioner for Insurance (NAICOM), Mr Olusegun Omosehin, has called on insurance operators to build enduring institutions that outlive their founders and become pillars of strength to communities.

Speaking at the 2024 Nigeria Council of Registered Insurance Brokers (NCRIB) CEO’s Retreat at Uyo, with the theme Building Institutions That Survive Their Promoters, Mr Omosehin emphasised the need for collaborations between insurance institutions to reinforce the industry’s collective mission for sustainable futures.

The commissioner, who was represented by the Deputy Commissioner, Mr Ekerete Olawoye Gam-Ikon, expressed confidence that the discussions and insights shared during the retreat would illuminate strategies and best practices to ensure that the institutions built today will thrive for generations to come.

He, however, highlighted that at NAICOM, there was a deep commitment to creating lasting legacies, adding that such commitment was built on robust governance, innovation, and an unwavering dedication to ethical practices.

According to him, these principles would not only ensure the longevity of institutions but also foster trust and confidence among stakeholders.

The Commissioner highlighted the crucial role insurance brokers play in this endeavour, saying that as intermediaries who facilitate critical financial protection, brokers are instrumental in promoting stability and security whose efforts contribute to a safer and more predictable environment for businesses and individuals alike.

He urged everyone present to use the opportunity to collaborate, learn from each other, and reinforce the insurance industry’s collective mission to create sustainable futures.