African insurance consortium meet in Nigeria to discuss opportunities

Stakeholders in the insurance industry across the African market are to gain an economic value chain as Nigeria is set to host the 47th yearly African Insurers Organisation (AIO) Conference and General Assembly in Lagos from September 4-8, 2021.

The global insurance gathering is coming to Nigeria after 21 years with the theme: ‘Rebuilding Africa’s Economy: An Insurance Perspective’, amid the COVID-19 pandemic.

The Chairman, Local Organising Committee (LOC), Ebelechukwu Nwachukwu, at a virtual briefing in Lagos, reiterated that the event would provide the opportunity to showcase the rich cultural heritage of Nigeria, its hospitality and the potential of the insurance industry in particular.

Nwachukwu said the conference was to be held last year but due to the COVID-19 pandemic, the AIO Secretariat in conjunction with the LOC decided to hold it this year as a hybrid event to cater to those who will not be able to attend physically.

“Planning the conference at this time, we have taken full cognisance of all the health protocols and restrictions on public gatherings, hence the decision to make it a hybrid event.

“To give further impetus to this decision, we are limiting the number of physical attendees while others are being encouraged to take advantage of the virtual conference to participate from their different locations. For physical attendees, all covid-19 protocols will be observed and implemented to the letter,” she said.

She said one of the major highlights of the 47th conference was that the immediate past chairman of the Nigerian Insurers Association and group managing director of NEM Insurance PLC, Tope Smart, will assume office as the next president of the Pan African organisation for the next one year.

“There is no doubt that COVID-19 pandemic has left very debilitating effects on many economies and there are efforts at addressing these challenges. This informed the decision of the LOC to use the opportunity of the 47th AIO conference to contribute to discussions around how insurance can contribute to ongoing efforts at rebuilding economies seriously impacted by the pandemic.

The Chairman, the Nigerian Insurers Association (NIA), Ganiyu Musa, said there are many benefits as service providers in insurance, technology providers, and fintech will have the opportunity to pitch their services, seal partnership deals, and make bilateral arrangements that will in the short and long run bring foreign direct investment into Nigeria.