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Nigeria market to provide knowledge sharing opportunity for WAICA member

THE Nigeria insurance market is set to provide the platform for knowledge sharing and networking amongst members of West African Insurance Companies Association (WAICA) as the body hosts its 38th Annual General Meeting (AGM) and Education Conference in Lagos.

The three day event will come up from April 24 – 26, 2016 in Lagos and the theme of this year’s Conference is, “The Practice of Insurance in a Challenged Economy”.

According to the Chairman of the Local Organising Committee of the Conference, Mr. Sory Diomande, the Honourable Minister of Finance, Mrs. Kemi Adeosun is expected to declare the Conference open.

A major highlight of this year’s Conference will be the swearing-in of Mr. Rotimi Fashola, Managing Director/Chief Executive Officer of Industrial & General Insurance Plc. as WAICA President during the closing dinner.

The first paper on “Insurance as a Growth option in a Challenged Economy” will be delivered by Mr. Wole Oshin, Past Chairman of the Nigerian Insurers Association and Group Managing Director, Custodian & Allied Insurance Plc. Oshin is an accomplished business man and a market leader who has delivered many papers at local and international Conferences and Workshops. His paper will be discussed by Mr. Udai Patel, Managing Director, Afro-Asian Insurance Services Limited, London, and Ms. Hope Murera, Deputy Managing Director, Zep-Re, PTA Reinsurance Co, Nairobi, Kenya, while Mr. Mike Hamah, Chairman, Board of Directors, SIC Insurance Company Ltd, Accra, Ghana will chair the session.

Networking and exchange  of business information

Mr. Gustav Siale, Managing Director/CEO Ghana Reinsurance Co. Accra, Ghana will take the second paper titled, “Traditional Insurance   vs.  The need for Recaliberation of Industry Practices in Dealing with Future Challenges for Insurers.”  This paper will be discussed by Messrs. Shola Tinubu, M.D, Scib Insurance Brokers and Edward F-Kyei, Managing Director, Glico Life Insurance Co, Accra, Ghana while the President of the Chartered Insurance Institute of Nigeria and Managing Director of Nigeria Re, Lady Isioma Chukwuma will chair the Session.

This will be followed by the open forum which will be chaired by the out-going President of WAICA and President of Ghana Insurers Association, Mr. Ivan Avereyireh who is also the Managing Director/CEO, Ghana Life Assurance Co.Ltd. There will also be a crucial meeting of West African Insurance Supervisors Association (WAISA) which will be attended by all the Commissioners for Insurance from the West African Sub-Region. The WAICA annual general meeting and governing council meeting will take place thereafter before the closing dinner.

According to the Chairman of the Local Organising Committee and Regional Director, Africa-Re, Mr. Sory Diomande, “the fact that Nigeria is hosting the 38th WAICA AGM and Education Conference is yet another opportunity for Nigerians to showcase her hospitality.  It gives us a unique opportunity to showcase Nigeria’s rich cultural heritage. It is a vote of confidence on the Nigeria insurance market and it creates an opportunity for networking and exchange of business information. I believe the Nigerian market stands to benefit from this event.  I also know that the delegates from other countries will have fond memories of their stay in Nigeria” he enthused.

He urged all the players in the Nigerian market, underwriters, brokers, loss adjusters and surveyors to see the event as an industry event and a unique opportunity to make a lasting impression about the Nigerian market.

WAICA is the sub-regional association of insurance companies and brokers in the West African Sub-region.  The Association provides a platform for sharing business information and cross-fertilisation of ideas.


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