‎By Onu Okorie

‎

‎Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, has reaffirmed that professionalism, innovation, and industry development remain critical to driving growth in Nigeria’s insurance sector.

‎He made this known during a courtesy visit by the leadership of the Chartered Insurance Institute of Nigeria CIIN to the National Insurance Commission (NAICOM) in Abuja.

‎The delegation, led by outgoing CIIN President, Mrs. Yetunde Olubunmi Ilori, was in Abuja as part of activities marking the conclusion of her tenure.

‎Mr. Omosehin commended Mrs. Ilori for her exemplary leadership and outstanding contributions to the development of the insurance profession, noting that her tenure recorded significant achievements that strengthened the Institute and enhanced its relevance within the industry.

‎He said history would be kind to her for her dedication, commitment, and transformative impact on the sector, adding that her administration had left an enduring legacy for future leaders to build upon.

‎Congratulating the incoming CIIN President, the Commissioner urged him to brace up for greater responsibilities ahead. “Prepare for the task ahead. You are stepping into big shoes, and the expectations are high,” he said.

‎Mr. Omosehin expressed confidence in the future of the Institute and the wider insurance industry, stressing that greater opportunities and milestones lie ahead.

‎He briefed the CIIN leadership on key developments in the sector, including the Nigerian Insurance Industry Reform Act NIIRA, 2025 and the ongoing industry recapitalization exercise, scheduled to conclude on July 31, 2026.

‎He particularly acknowledged the Institute’s contributions to advancing Insurtech, innovation, human capital development, and overall industry growth during Mrs. Ilori’s tenure.

‎Speaking during the visit, Mrs. Ilori expressed profound appreciation to NAICOM for its unwavering support and collaboration throughout her administration, noting that the successes recorded by the Institute during her tenure would not have been possible without the steadfast backing of the Commissioner and the entire NAICOM management team.

‎She said the strong partnership between NAICOM and CIIN had played a pivotal role in advancing professionalism, capacity building, and innovation within the industry.

‎Responding, the incoming President expressed gratitude for the confidence reposed in him and affirmed his readiness to assume the leadership of the Institute.

‎He pledged to consolidate on his predecessor’s achievements while pursuing initiatives to further enhance professional excellence, deepen industry penetration, and support the sustainable growth of the Nigerian insurance sector.