NAICOM’s Olorundare Thomas elected President of OAISA
By Patience Ikpeme
Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas has been elected President of the Organisation of African Insurance Supervisory Authority (OAISA).
Mr. Thomas’ election was confirmed at the recent General Assembly of the OAISA held in Tunis, Tunisia, together with Vice-President Issouf Traoré of Côte d’lvoire.
OAISA is an intergovernmental organization with rights and privileges granted by the 1961 Vienna Convention on Diplomatic Relations.
It aims to promote cooperation among insurance regulators in Africa to share their experience in effective supervision of the insurance industry in Africa for the development of insurance markets for the benefit and protection of policyholders. It is an organization that contributes to capacity building and financial stability of the African continent.
As a newly elected officer of this organization, Olorundare Sunday Thomas will initially serve the
continent for a two-year term, renewable once.
Mr Thomas was the Pioneering President of the West African Association of Insurance Supervisors, WAISA.
