Africa Re, Nem Insurance, Tunis Re among major sponsors of AIO 25th Reinsurance Forum

By Favour Nnabugwu



The 25th African Reinsurance Forum of the Insurance Organisation, AIO will explore emerging distribution channels that will create further opportunities to serve local African economies in light of AfCFTA..

The theme of this year forum, “Insurance Integration in the context of the African Continental Free Trade Area (AfCFTA).

The Forum will be held from 27th November to 01st December 2021 at the Kigali Convention Centre, Rwanda.

Major sponsors of the forum include Africa Reinsurance Corporation, NEM Insurance Lc and Tunis Re, among other sponsors of the event

Annie Nibishaka, Chairperson,  Organising Committee said Rwander Insurers Association economies continue to evolve, and competition in the insurance industry intensifies, we need to be on the lookout for opportunities to make insurance relevant within these emerging and new business models.

“The outbreak of the COVID Pandemic in 2019 has disrupted “business as usual”, complicated international logistics but could also be an opportunity some would say”.

Nibishaka who doubles as the Managing Director of UAP Insurance Rwanda explained that the event is happening during very challenging times of the COVID Pandemic but I am glad to inform you that Kigali and indeed Rwanda is making tremendous progress in the fight against this scourge.

According to her, “This forum is a vehicle through which insurance executives explore and discuss topical issues of the day and find solutions to the challenges we are facing as an industry. The theme of this year’s Forum aptly named”

Finance Minister advises insurance industry to push for policies & go for  training

By Favour Nnabugwu
The nation insurance industry has been advised toleverage on the relationship the sector shared with the federal government under the President Muhammadu Buhari to boost the image using customer service delivery.
The Minister of Finance, Budget and National Planning, Dr Zainab Shamsuna Ahmed she relationship between government has never been this strengthens.
The Insurance sector in its more than 60 years history has never before this time enjoyed the closeness, romance and positive relationship with the Federal Government as we have presently under the administration of His Excellency President Muhammadu Buhari, GCFR. While insurance industry is celebrating these recent developments of support by the Federal Government”
She said that it will be a good opportunity for the insurance sector to impress in the heart of the general public and businesses the value of insurance as a financial instrument for protection and sustainability.
“The leadership of all arms of the insurance sector must see this opportunity as a challenge to boost the image of the sector and move positively closer with a view to increase its visibility through efficient service delivery”.
She expanciated that the issue of professionalism and business ethics must be taken seriously among members of the insurance broking fraternity and indeed the entire insurance industry.
“This will in turn improve the fragile image and perception of the sector by the populace”
” The harmonious working relationship between the NCRIB and other stakeholders is commendable and we expect that this is sustained and improved upon”
The Minister said the new NCRIB president, Rotimi Edu should the Council leadership to be a formidable partner to your Regulator the National Insurance Commission and the government in the implementation of its various policies and initiatives.
“Now to the man of the moment Barrister Rotimi Edu, congratulations to you oni your election as the 21st President and Chairman in Council of the NCRIB. In your new leadership position it will be expected that you and your council and indeed the entire Insurance Broking family will key into the various initiatives of the Federal government especially those relating to poverty allievation”
“The  Federal Government is not unaware of the challenges confronting businesses including the insurance sector and it is doing so much through various initiatives and policy rearrangements to ensure stability in the system”
Also, she touched on the need for training to professionals and insurance practitioners, “The world has moved many places ahead of Africa in so many fronts in insurance practice and governance. The insurance sector is a knowledge based industry which must take issue of training of its members seriously in order to update itself with current realities across the globe.”
She emphasised, “By  training and retraining we can adequately equip practitioners with modern techniques and practice from the traditional ways of doing business to more robust, all inclusive and diversified channels of reaching our huge potential clients.”
The President and Chairman in Council of the NCRIB Mr Rotimi Edu, your deep knowledge about the industry, versatility and pedigree and recently a graduate of National Institute for Policy and Strategic Studies (NIPSS) which earned you Membership of the Institute (mni) certificate gives me the confidence
“I want to use medium to encourage members of the NCRIB to be open to initiatives including the adoption of relevant technologies aimed at making the insurance market robust and all inclusive especially at a time that the Commission’s cardinal objective is centered on deepening penetration and developing the market.”
She sdded, “It is worthy to say that extreme times like this require extreme measures to reach out to the nooks and crannies of the country. Partnerships and collaborations must be sustained with other stakeholders we perceive as progress partners in consumption, supply or distribution of insurance products in the country”
“The market is indeed in a dare need of serious partnership, collaboration and synergy if truly the industry want to make the required impact. The efforts been made so far by the Commission require the industry players to actively get involved.”
Ahmed noted that insurance market is so large and urged intermediaries to comb nooks and crannies, “My observation has revealed that there is huge market for insurance in every State of the Federation but lack of or inadequate presence of insurers and intermediaries may have hindered uptake of insurance in those places”
“I want to challenge the intermediaries that there is huge untapped market in the retail business and I urge your members to learn new ways to reach out and explore this area of huge potential for inclusiveness”
The Minister assured the insurance industry of the current administration’s support, “I want to assure you of the commitment and support of the administration of His Excellency President Muhammadu Buhari, GCFR to the development of the insurance industry and make it a veritable instrument for national growth and developoment. The contribution of the insurance sector to the nations GDP must become significant for recognition”.
Allianz brand value climbs 17% over $15bn in a year

By admin


Allianz continues to be the world’s most valuable insurance brand, according to the 2021 Best Global Brands ranking, released by leading consultancy Interbrand today.

Within the top 100 global brands, Allianz has climbed five ranks since 2020 to #34. Allianz’s brand value has risen by 2.2 billion USD in one year to $15.2 billion, an increase of 17 percent.

This increase is the strongest since Allianz entered the 100 Best Global Brands ranking in 2007 with a brand value of 4.0 billion USD.

According to Interbrand, Allianz’s rise in the ranking is based on its strong operating performance and outlook, increased branded revenue, and brand strength. Moreover, the influence of the Allianz brand on customers’ purchase decisions has increased over the last year.

“Congratulations to all! The Allianz brand demonstrates strong resilience and delivery of value for people, companies and the broader market. We have been working hard to apply our guiding principles ‘Shape, Care, Deliver’ to the brand and customer experience,” said Serge Raffard, Group Strategy, Marketing, Distribution Officer at Allianz SE.

To further build on its brand strength, Allianz has enhanced its global coherence, affinity, and distinctiveness. The “OneAllianz” approach was applied to unify Allianz’s brand presence into one logo, one message and one campaign. Moreover, Allianz has improved customer experiences globally by listening closely to its customers via numerous programs and addressing their unmet needs.

Allianz’s eight-year worldwide partnership with the Olympic and Paralympic Movements has also been instrumental in underlining Allianz’s role as a global insurer supporting the sports ecosystem. Since the launch of the partnership in January 2021, the likeability of the Allianz brand has increased significantly among people aware of the tie-up.

“I’m extremely proud of this year’s amazing result. A big thanks to Allianz employees, our agents and brokers. They are truly living our purpose – ‘We secure your future’ – and are tirelessly working to improve Allianz customer journeys and to find simple solutions to give our customers more confidence in their daily lives and in their future,” said Dr. Christian Deuringer, Head of Global Brand & Marketing at Allianz SE.

Rotimi Edu becomes 21st President of NCRIB

By Favour Nnabugwu
Barrister Oluwarotini Edu will be the 21st President of the Nigerian Council of Registered Insurance Brokers, NCRIB, in Lagos today.
The president elect, before now, was the deputy president of the council and he worked assiduously with the outgoing president. Dr. Bola Onigbogi, to deepen insurance awareness through improved education and sensitization exercise across the nooks and crannies of the country, including, at the states and federal levels.
Edu began is journey in the NCRIB when he was appointed as the Auditor of the council under its first female President, Barr Mrs. Laide Osijo.
He started his early education at the Surulere Baptist Primary School,  in Lagos, before he later proceeded to the Lagos Clerical Training College which was a famous school for the training of would-be white collar jobbers at the time.  Oluwarotimi later switched to Premier College, Yaba, for his West Africa School Certificate, which he bagged with flying colours.
The quest for higher scholarship propped the young Oluwarotimi to secure admission with the famous Lagos State Polytechnic, Isolo Lagos for his National Diploma and Higher National Diploma Certificates in Insurance.
He secured his first job with Security Insurance Company under the tutelage of Late Mr. Idowu Silva of blessed memories where he horned his skills in Insurance Marketing.
Though he had a flourishing career in the Insurance Industry, starting his career at the defunct Mulumba Assurance Co. Ltd where he was employed as a Senior Manager, Oluwarotimi briefly left for banking and later returned to the famous Industrial General Insurance Ltd where he exited as Deputy Director (Marketing).
He later became the acting Managing Director of International Health Management Services before he ventured into establishing his own Brokerage firm, Quicklink Insurance Brokers Ltd, which has remained one of the leading Insurance Brokerage firms in Nigeria today.
From that point, there had been no turning back for Oluwarotimi Edu as he rose meteorically on the council’s leadership ladder through his valued and qualitative contributions to become Hon Treasurer, Vice President, Deputy President and today ascending the number One position as 21st President.
 Oluwarotimi Edu’s insatiable appetite for learning even when it was most inconvenient prodded him to enroll for a degree in Accounting crossing in his 2nd year to Law at the University of Lagos where he bagged his Bachelors of Laws degree, and was called into the Nigerian Bar after completing his Law School.
He still went back to study for his Master’s Degree in Law specializing in Secured Credit, Family Law and he later became a Notary Public of the Federal Republic of Nigeria thereafter. These battery of certificates and knowledge he has brought to bear on his profession and the NCRIB in several capacities.
A Chartered Insurance practitioner from the Chartered Insurance Institute London, Barr Oluwarotimi Edu is a proud product of the famous National Institute of Strategic Studies, Kuru, Jos. He was a one-time speaker at NIPSS (SEC 41) and a strong advocate of agricultural insurance development in Nigeria.
As one of the Past Presidents of the famous Lagos Lawn Tennis Club, Barr Oluwarotimi Edu left an impressionable footprints on the Club. Aside from enhancing its financial vibrancy, Barr Edu is remembered for re-energising the Club through aggressive membership drive and drawing more attention of the powers that be to the Club, making it a primus interperes amongst its peers nationally.
Edu is a Chartered member of the Nigerian Institute of Chartered Arbitrators(CIArB); Current Chairman of the Insurance Brokers Forum of the West African Insurance Companies Association (WAICA); Member of the 9th Governing Council of Lagos State Polytechnic (LASPOTECH); Past President of the Lagos State Polytechnic Alumni Association); Member, Institute of Directors (MIoD); Principal Partner of Rotimi Edu & Co. a firm of Estate Managers, among others.