The chairman of the 2025 Almond Awards Panel of Judges, Ms Prisca Soares, has called for fresh thinking to tackle the penetration gap in the Nigerian insurance industry.
Soares said this on Friday at the unveiling of the nominations for the 2025 Annual Almond Insurance Industry Awards in Lagos.
This award celebrates practitioners across the Nigerian insurance industry who break barriers to promote insurance despite prevailing economic and social challenges. While insurance penetration remains relatively low, practitioners continue to make impressive gains. According to the Nigerian Insurance Industry Report by NAICOM, the industry recorded a Gross Premium Income of over ₦1.2 tn as of the end of 2024, a major milestone reflecting resilience and strategic innovation within the sector.
In her welcome address, Soares said, “Although the industry has made considerable efforts in promoting insurance awareness – the media included – there is still a significant gap between awareness and actual penetration, especially when measured against our country’s vast
population. This reality calls for fresh thinking and innovative platforms to drive the message further. The Almond Insurance Industry Awards is one such platform, and I strongly believe in its power to shine a positive light on the industry, given the feedback and participation from previous editions.
“The 2025 edition, tagged #Recharged, will take place on Friday, November 7th, 2025. As always, the event will bring together policymakers, insurance professionals, entertainers and the ensuing public (corporate and individual) to celebrate the innovators and change makers in the industry.”
Soares said the purpose of the awards remains unchanged, which is to recognise and reward the outstanding efforts of the men and women across the different arms of the industry who work tirelessly to promote and sell insurance, often in challenging circumstances.
Nominations officially opened on Friday and will run for four weeks (ends June 30th). It s will be reviewed by a panel of judges including, Soares, who was the immediate past Secretary-General of the African Insurance Organisation, Executive Chairman, Zamara Consulting Actuaries, Nigeria, Mr. Rotimi Okpaise, former Head of Research & Statistics, Nigerian Insurers Association; Dr. Obinna Chilekezie; Jean Anishere SAN of Jean Chiazor and Partners and Member of the International Chamber of Commerce’s Internal Court of Arbitration; and Director of Human Resources & Administration, National Insurance Commission, Mr. Salami Obomeile.
