The newly installed Chairman of the Nigerian Insurers Association (NIA), Eddie Efekoha, has identified four key areas his administration would focus to take insurance operations to lofty heights.
Efekoha, who is also the Managing Director of Consolidated Hallmark Insurance Plc disclosed this on Thursday at the 45th Annual General Meeting of the association in Lagos said that the theme of his administration is, “Sustainable Market Development Through Stakeholders Engagement”.
The Consolidated Hallmark Insurance MD received the mantle of leadership of the Insurance League at the AGM assured that his administration would promote stakeholders’ engagement with policy makers at the Judiciary, the Legislature and other relevant agencies of the government, as well as regulatory institutions and industry players.
“Enforce market discipline amongst key industry players which will involve engagement with colleagues and partners in the industry to encourage market development and continuity in the industry;
“Review the NIA constitution to make it more dynamic in response to the changing business environment and pursue other current projects embarked upon by the association most important of which is the NIA Building Project.”
He stressed that his cabinet will deal with the identified programmes to the best of their abilities.
He commended the National Insurance Commission under the leadership of Mohammed Kari, the Commissioner for Insurance, for instituting the Insurers’ Committee, a platform for dialogue between the regulator and regulated entities for the growth of the industry.
“Every leader is born for his own time! It is my opinion that our industry at this time will benefit a lot from the openness to dialogue of the Commission as a means to addressing some of the ills of the market today for long term sustainability, growth and ease of regulation. This is in line with the theme of my chairmanship and therefore I will not hesitate to encourage our members to participate actively as they have done since the inauguration of the Committee,” he said.
Efekoha however affirmed that the NIA has and will continue to remain true to its legacy as an institution that exists to champion the cause of the insurance industry and that his administration will ensure that the founders’ sense of purpose is upheld at all times.