All Posts in "Insurance"
President Tinubu appoints Segun Omosehin as CFI, Halimat Kyari as Naicom chairperson
By Favour Nnabugwu
President Bola Tinubu has approved appointment of Mr Olusgun Ayo Omosehin as the new Commissioner for Insurance.
He said that the chairperson and members of NAICOM are Ms. Halima Kyari, Chairperson; and Mr Olusegun Ayo Omosehin- Commissioner for Insurance
To consolidate the mandate of Naicom with Omosehin are Mr Olawoye Gam-Ikon- Deputy Commissioner (Technical Operations) and Dr. Usman Ankara Jimada- Deputy Commissioner (Finance & Administration)
This is contained in a statement by Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, on Friday in Abuja.
He said that the chairperson and members of NAICOM are Ms. Halima Kyari, Chairperson; and Mr Olusegun Ayo Omosehin- Commissioner for Insurance.
The remaining of the board of Naicom invlude: Dr Miriam Kene Kachikwu- Member; Mr Adeniyi Olusegun Fabikun- Member and Mr Umar Khalifa Mohammed- Member
Ngelale said that the chairman and members of the SEC board are Mr Mairiga Aliyu Katuka- Chairman and Mr Emomotimi Agama- Director-General
Others are Frana Chukwuogor — Executive Commissioner (Legal and Enforcement) and Mr Bola Ajomale- Executive Commissioner (Operations)
The rest are Mrs Samiya Hassan Usman- Executive Commissioner (Corporate Services), Mr Lekan Belo- Non-Executive Commissioner and Mr Kasimu Garba Kurfi- Non-Executive Commissioner.
He said that the President expected the new Board of the NAICOM to exercise utmost probity as it led the commissions in ensuring a safe, sound, and stable insurance sector.
The president urged policyholders, the public interest and improving trust and confidence in the sector.
Tinubu also anticipated that all members of the Board of SEC to bring their wealth of experience and competence in advancing the commission’s core mandate of developing and regulating a capital market.
Independent Newspaper charts new growth path for insurance sector
Late Mrs Oyinade Folashade Florence Thomas for burial May 11
By Favour Nnabugwu
Arrangements for the funeral rites of Mrs. Oyinade Folashade Florence Thomas, the late wife of Commissioner for Insurance Olorundare Sunday Thomas, has been made and fixed for May 11, 2024.
The Funeral arrangements made available today by the National Insurance Commission (NAICOM) stated that late Mrs. Oyinade Folashade Thomas who slept in the Lord on April 11, 2024 at the age 68 years, would have her service of songs at the Summit Bible Church, Plot 1201 Kaura District, off Oladipo Diya Road, Between Games Village and Prince and Princess, Abuja, on Wednesday, May 8, 2024, by 5pm
NAICOM said the Christian wake keep, would hold on May 10, 2024, at the Thomas residence, Olorunda Quarters, Ohidi, in Ijumu Local Government Area, Kogi State, by 4pm.
The Commission stated that funeral service would hold on May 11, 2024 at St. John’s Anglican Church, Ogidi, by 10am and interment at the Thomas residence.
CFI, Sunday Thomas, loses wife, Oyinade Folashade Thomas, to death
By Favour Nnabugwu
Wife of the Commissioner for Insurance and the Chief Executive of the The National Insurance Commission, NAICOM, Mr Olurundare Sunday Thomas, Mrs Oyinade Folashade Thomas passed on to the great beyond today, April 12, 2024 after a brief illness.
Naicom expressed deep sadness during the release of the death
Mrs. Oyinade Thomas was a pillar of strength, support, and a source of inspiration to her family, friends, and colleagues. Her kind-hearted nature, compassion, and generosity touched the lives of countless individuals, making her an exceptional woman who will be dearly missed by all who had the privilege of knowing her.
Throughout her life, Mrs. Thomas demonstrated exceptional dedication and commitment to the insurance industry as she stood side by side with her husband, the Commissioner for Insurance/Chief Executive, in his mission to ensure the development and growth of the insurance sector in Nigeria. She recognized the vital role of insurance in providing financial security to individuals, businesses and communities.
The loss of Mrs Thomas will be felt by all who were fortunate enough to know her. The National Insurance Commission extends its deepest condolences to the Commissioner for Insurance/Chief Executive and his entire family during this difficult time. In this period of mourning, our hearts and prayers go out to them, offering comfort and support on behalf of the entire insurance community.
The Commission would also like to express its gratitude to the insurance industry stakeholders, friends, and well-wishers for their outpouring of sympathy and prayers. We appreciate your understanding and support as the Commissioner for Insurance/Chief Executive mourns the loss of his beloved wife.
Funeral arrangements will be communicated in due course.
Inspenonline retirement summit soars, holds April 25
By Favour Nnabugwu
More individuals, groups and organisations have continued to indicate interest to attend the maiden 2024 Inspenonline Retirement Summit, first of it’s kind, will hold on Thursday, April 25, 2024 .
According to the Promoter of the Summit, who is also Publisher of Inspenonline, Chuks Udo Okonta, prominent amongst those attending the summit are: members of Nigeria Employers Consultative Association (NECA); Nigeria Labour Congress (NLC); Trade Union Congress of Nigeria (TUC); Nigeria Union of Pensioners (NUP) and Pension Desk Officers (PDOs).
The event which will hold at Radisson Hotel include others as members of informal sector, insurance operators, pension operators, lecturers, students, workers and retirees.
Okonta submitted that the 2024 Inspenonline Retirement Summit, was designed to provide the requisite knowledge needed to aid the public to effectively plan and enter retirement life smiling and also help those in retirement rediscover themselves.
He said the theme: ‘Promoting Retirement Without Tears, Through Insurance and Pension’ will be handled by experts, who are masters in retirement affairs.
“Why would you spend thousands of naira to attend retirement seminars, while you can get the needed knowledge for free,” he enquired.
He said the event, which he christened the University of Retirement, has Faculty Leaders, such as, Chairman of event, Past President Chartered Insurance Institute of Nigeria (CIIN)/former Managing Director Sterling Assurance Limited, Fatai Lawal.
Special Guests of Honours: Commissioner for Insurance Sunday Thomas and the Director General National Pension Commission (PenCom) Mrs. Aisha Dahir-Umar
Special Guests: Past President Chartered Insurance Institute of Nigeria Sir. Muftau Oyegunle; Chairman, Nigerian Insurers Association (NIA) Olusegun Omosehin and the Chief Executive Officer, Pension Fund Operators Association of Nigeria, Agudah Oguche;
President Chartered Insurance Institute of Nigeria Edwin Igbiti; President Nigerian Council of Registered Insurance Brokers Babatunde Oguntade; Chairman, NSIA Insurance Limited, Dr. Adesegun Akin-Olugbade and the Former Managing Director Sanlam Nigeria, Val Ojumah
Keynote Speaker: Founder & Managing Director, ZER Consulting Africa, Adeolu Adewumi-Zer
Paper Discussants: Managing Director Motodols Consults/former Director General, Lagos State Pension Commission, Mrs. Folashade Onanuga; Founder, Mutual Aid Specialists, Adetola Adegbayi; Managing Director Universal Insurance Plc, Benedict Ujoatuonu; Managing Director and Chief Executive Officer of Crusadersterling Pensions Limited, Rotimi Adebiyi; Managing Director Heirs Life Assurance Limited, Niyi Onifade; Managing Director Sanlam Nigeria, Tunde Mimiko; Director General, Nigeria Employers Consultative Association, Adewale Oyerinde and the National Chairman, Forum of Pension Desk Officers, Nze Peter Nze.
Okonta appreciated companies and individuals that have so far supported the event morally and financially, whilst imploring good spirited individuals and organisations to also support the initiative.
Naicom visits DTRS on third party insurance
FG to support insurance brokers body, NCRIB
CAPTION:
L – Past President, The Nigerian Council of Registered Insurance Brokers, Dr. (Mrs) Bola Onigbogi; Vice President, Mrs. Funke Adenusi, mni; Executive Secretary/CEO, Mr. Tope Adaramola; Hon. Minister of Finance and Coordinating Minister of the economy, Mr Wale Edun; President,NCRIB, Prince Babatunde Oguntade and Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Jafiya during the Council’s visit to the Minister’s office in Abuja recently
By Favour Nnabugwu
The Federal Government has expressed its intention to partner with strategic professional institutions towards entrenching viable economic policies that would inflate the economy and guarantee the nation’s sustainable development, promised to support the Nigerian Council of Registered Insurance Brokers (NCRIB)
The Minister of Finance and Coordinating Minister of the economy, Mr Wale Edun, made the assertion when the delegation of NCRIB paid him a courtesy visit in Abuja.
According to Edun, the current administration was giving primacy to getting the economy out of the woods through pragmatic reforms by getting hold of government revenue and monitoring effective outcomes of government policies.
The Minister disclosed that the government realised the need to collaborate with reputable professional institutions which are believed to bring value to government’s new policy direction, hence an extension of hands of fellowship to notable bodies like the Nigerian Council of Registered Insurance Brokers, especially in its economic task force team.
Speaking earlier, the President of NCRIB, Prince Babatunde Oguntade had applauded the Ministry for effectively anchoring the economic reforms of the present administration which he stated was already putting the country on the path of sustainable recovery.
He stated that government needed to place greater emphasis on insurance as one of the economic reforms strategies, bearing in mind the endemicity of risks in every endeavour of government, coupled with the need to preserve the huge human and material resources of government against unforeseen circumstances.Oguntade specifically advocated a more stringent commitment of government to the enforcement of the laws on compulsory insurances which he noted would buoy the solvency of the industry as well as guarantee the required peace of mind of the people and inflate the economy ultimately.
While advocating the involvement of Registered Insurance Brokers in all government insurance accounts, Oguntade frowned at the practice of virement in yearly budgeted expenditure for insurances by government, noting that the accounting practice had deprived the industry of its required revenue.
The NCRIB President also made a passionate case for the removal of the National Insurance Commission (NAICOM) from the revenue generating agencies of government which led to government deducting 50 per cent front its revenue or income, a situation he said could badly affect the effective legislative oversight of the regulatory body through inadequacy of funds.
Nominations for 9th African Insurance Awards extend to April 5
By Favour Nnabugwu
Africa Reinsurance Corporation, Africa Re, has extended the submission of Nominations for the 9th edition of the African Insurance Awards (AIA) has been extended to 5 April 2024.
Africa Re through the awards intends to rewards and celebrates excellence, innovation, good corporate management and leadership in the African insurance industry.
The Awards Ceremony will take place on 3 June 2024 in Windhoek, Namibia.
Company of the Year: This prize is open to all insurance companies registered in Africa and focuses on performance in the last two years.
CEO of the Year: This special award is given to the CEO of an insurance company, who has made an outstanding contribution over the past 12 months or more, either through the advancement of his/her company or the insurance industry in Africa.
Innovation of the Year: This prize is awarded to an insurance company for the best use of technology, for launching a breakthrough product / service or a new and innovative distribution channel or method.
InsurTech Initiative of the Year:
This prize targets non-insurers that are collaborating with insurers to improve customer service delivery, product development and overall innovation in the insurance value chain. For this category, the awards will provide a platform for the winner to meet the insurance industry
Sovereign Trust staff, Akorede Johnson emerge CIIN Ambassador
By Favour Nnabugwu
Akorede Olaoluwa Johnson, a Youth Corp Member with Sovereign Trust Insurance Plc has emerged the winner and subsequently, becomes the Chartered Insurance Institute of Nigeria, CIIN Ambassador for the insurance industry for year 2024/2025.
The keenly-contested competition had contestants from leading insurance companies in the country and at the end of the day,
Akorede Olaoluwa Johnson, a Youth Corp Member with Sovereign Trust Insurance Plc emerged the winner and subsequently, becomes the CIIN Ambassador for the insurance industry for year 2024/2025. Akorede Johnson is a graduate of Insurance from Lagos State Polytechnic as well as having a B. Sc degree in Education from the Lagos State University.
He is a highly motivated and adaptable individual with a passion for learning and growth. Akorede is a registered and qualified teacher with the Teachers Registration Council of Nigeria.
He is also a member of the Chartered Institute of Personnel Management of Nigeria, (CIPM) and holds a Diploma Certificate of the Chartered Insurance Institute of Nigeria, CIIN.
As an undergraduate, he served in various capacities in the Student Union body in leadership positions.
As a young leader with enthusiasm for knowledge and professionalism, Akorede cut his career teeth with Sovereign Trust Insurance plc in October 2023,
when he joined the company for his mandatory one-year Youth Service as a staff in the Reinsurance unit in the Technical Division of the Underwriting Company.He is a professional photographer that loves to learn, travel and try new things.