In a strategic move to deepen the insurance industry in Nigeria, the Nigerian Council of Registered Insurance Brokers (NCRIB), in collaboration with the Nigerian Insurers Association (NIA), has held a two-day interactive retreat with the House Committee on Insurance and Actuarial Matters in Lagos. The event, which brought together key stakeholders and lawmakers, aimed to enhance the sector’s growth and address pressing issues.
The sessions featured presentations by experts from NCRIB and NIA, who covered various aspects of insurance, including industry basics, regulatory and compliance matters, and the potential of insurance in the context of Nigeria’s renewed hope agenda. The presentations were followed by a lively question-and-answer segment, where members of the House Committee sought clarifications and engaged deeply with the topics discussed.
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Hon. Ahmadu Usman Jaha, Chairman of the House Committee on Insurance and Actuarial Matters, expressed appreciation for the initiative, noting that it significantly improved the committee’s understanding of the insurance industry. “We are committed to supporting the growth of the insurance industry in Nigeria, and this session has provided us with valuable insights,” he stated.
NCRIB President, Prince Babatunde Oguntade, praised the committee for its dedication to oversight and its proactive approach to learning and engaging with stakeholders. He expressed optimism that the collaboration would lead to better policies and regulations that would foster the development of the insurance industry in Nigeria.
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Kunle Ahmed, Chairman of the Nigerian Insurers Association, also highlighted the importance of the event, describing it as a significant step toward improving understanding and collaboration between insurance stakeholders and lawmakers. He emphasized that such initiatives are essential for addressing emerging challenges and opportunities as the industry continues to evolve.
The retreat marks a pivotal moment in the ongoing efforts to strengthen Nigeria’s insurance sector, underscoring the importance of strategic collaboration between industry players and legislative bodies.
