NAICOM Commits to Building Enduring Legacies
By Patience Ikpeme
The National Insurance Commission (NAICOM) has stated its unwavering commitment to creating lasting legacies within the insurance industry, founded on robust governance, innovation, and strict adherence to ethical practices.
This pledge was made during the 2024 Nigeria Council of Registered Insurance Brokers (NCRIB) CEO’s Retreat in Uyo, Akwa-Ibom State under the theme “Building Institutions That Survive Their Promoters.”
The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, represented by the Deputy Commissioner, Mr. Ekerete Olawoye Gam-Ikon, articulated this commitment in his keynote address.
He emphasized that the principles of robust governance, innovation, and ethical conduct are not only pivotal for the longevity of institutions but are also crucial in fostering trust and confidence among stakeholders.
“In today’s rapidly changing world, the concept of building enduring institutions is more relevant than ever,” stated Mr. Gam-Ikon. “Institutions that outlive their founders represent sustainability, resilience, and continuous excellence. They become pillars of strength for our communities and guide us through times of change and uncertainty.”
Mr. Gam-Ikon highlighted the significant role insurance brokers play in this endeavour. As essential intermediaries, brokers facilitate crucial financial protection, promoting stability and security in the market. Their efforts, he noted, contribute to a safer and more predictable environment for both businesses and individuals.
“The role of insurance brokers is instrumental in our mission. Their work in ensuring financial protection is critical to promoting stability and security,” he said. “Their efforts are essential in creating a safer and more predictable environment for businesses and individuals alike.”
The Deputy Commissioner expressed confidence that the retreat would be a platform for sharing valuable insights and strategies to ensure that the institutions being built today will thrive for generations to come. He urged participants to seize the opportunity for collaboration, learning, and reinforcing the insurance industry’s collective mission to create sustainable futures.
“The discussions and insights shared during this retreat will illuminate strategies and best practices that will ensure the institutions we build today will thrive for generations,” he concluded. “I urge everyone present to collaborate, learn from each other, and strengthen our collective mission to create sustainable futures.”
The NCRIB CEO’s Retreat brought together top leaders in the insurance sector, providing a forum for in-depth discussions on best practices and innovative strategies to sustain and grow the industry. The event’s focus on building institutions that endure beyond their founders is particularly relevant in a world where rapid changes demand resilience and forward-thinking.
This commitment from NAICOM and the active participation of insurance brokers highlight the industry’s dedication to not just surviving but thriving in a dynamic global environment. The principles and practices discussed at the retreat are expected to set a new benchmark for excellence and sustainability in the Nigerian insurance landscape.
