AIO calls for structured insurance market across Africa

By Rosemary Iwunze

President of the African Insurers Organisation, AIO, Mr. Tope Smart, has called on African insurance industry stakeholders to unite and address the challenges bedeviling insurance growth in the continent.

Smart, in his New Year message to insurance fraternity in Africa, said that insurance penetration rate in Africa remains low when compared with global average.

To this end, Smart, who is also the Group Managing Director of NEM Insurance Plc, stated: “We need to bridge this gap by addressing all the challenges confronting us as a sector in Africa. With determination and commitment, we can do this.”

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While calling on African insurers to remember and renew their trust in AIO executives, Smart noted that he looks forward to a better African insurance industry in the years to come.

He said: “The African insurance industry is growing bigger, stronger, and more resilient. Together, we are working on several projects which we believe will bring us closer and make us stronger and better.”

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