By Ngozi Onyeakusi—The National Insurance Commission (NAICOM) has solicited for collaborative efforts of all stakeholders in the insurance sector to boost its contributions to economic stability and growth of the country.

 

The Commissioner for Insurance and Chief Executive Officer of NAICOM, Olusegun Ayo Omosehin, made the appealed while delivering a keynote address at the Investiture ceremony of the 52nd President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori, in Lagos.

Read his full text of speech

 

 

Protocols:

 

It is a great honour and privilege to stand before you today as we gather to celebrate the investiture of Mrs. Yetunde Ilori as the 52nd President of the Chartered Insurance Institute of Nigeria (CIIN). This ceremony marks a significant milestone not only in her illustrious career but also in the evolution of the Nigerian insurance industry.

I want to salute the outgoing President & Chairman of Council, Mr Edwin Igbiti and members of the Governing Council of the Chartered Insurance Institute of Nigeria (CIIN), for their steadfast commitment towards the promotion of Insurance education and professionalism among members.

Mrs. Yetunde Ilori’s journey to this prestigious position is a testament to her unwavering dedication, exceptional leadership, and profound commitment to the insurance sector. As the immediate past Director General of the Nigerian Insurers Association (NIA), she demonstrated remarkable expertise and visionary leadership that greatly contributed to the advancement of that association and by extension our industry.

Today, it’s on record that during her tenure as the DG of the NIA and with the support of the Governing Council, the NIA delivered a befitting Head Office. The 7-storey building with a mezzanine floor has become the pride of the entire insurance industry.

Her achievements and wealth of experience, coupled with her relentless pursuit of excellence, makes her the perfect choice at this critical time to lead the Institute to new heights, fostering a culture of continuous improvement, growth and innovation.

I am optimistic and confident that under Mrs Ilori’s leadership, the Chartered Insurance Institute of Nigeria, will continue to promote professionalism, uphold ethical standards, and foster educational development within the insurance industry.

Leadership in the insurance sector is more critical now than ever before as we navigate a world of significant economic challenges and great opportunities. Hence, the insurance industry must continue to evolve and adapt to meet the changing dynamics of our society. Mrs. Ilori’s leadership will play a pivotal role in driving this transformation, ensuring that the Institute remains a beacon of excellence and a catalyst for positive change.

As we celebrate this momentous occasion, it is important to reaffirm our collective commitment to promoting a robust, resilient, strong and stable insurance industry that contributes to the economic stability and growth of Nigeria.

Emerging realities and developments at the global and national levels today obviously calls for our collaborative effort to reposition the insurance profession and rebrand the industry such that our narratives can be better understood by all. We should be mindful of the perception of the insurance profession by the public and be deliberate in putting our narratives across.

 

On our part, the National Insurance Commission (NAICOM) is committed to aligning the insurance sector with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, GCFR and his ambitious goal of growing the Nigerian economy to $1 trillion by 2030. At NAICOM we view the institute as one of our veritable partners in the development of the much needed skilled-professionals in the course of achieving this goal.

 

It is therefore imperative to reiterate our continuous support to the institute in the discharge of its responsibilities and look forward to exploring additional mechanisms of enhancing the existing relationship with the Institute and in facilitating improved perception, transparency and public confidence in the insurance industry.

Once again, I congratulate Mrs Yetunde Ilori as the 52nd President of the CIIN and the entire insurance community. I pray that your tenure will be marked by significant achievements and that your leadership will leave an indelible mark on the institute and the industry at large.

Your Excellencies, distinguished Ladies and gentlemen, please join me in celebrating this well-respected veteran and a distinguished insurance professional as she embarks on this new chapter.

Together, we can build a brighter and more prosperous future for the Nigerian insurance sector.

Thank you for your attention.

 

Olusegun Ayo Omosehin

Commissioner for Insurance/CEO