The African Insurance Organisation has pledged stronger collaboration with Nigerian insurers, as part of efforts to deepen regional integration and enhance value for member companies across Africa.
During an official visit to the Nigerian insurance market recently, the Secretary-General of the AIO, Jean Baptiste, accompanied by the organisation’s Communication and Public Relations Officer, Charles Moki, met with players in the industry under the auspices of the Nigerian Insurers Association in Lagos.
The visit began with a meeting with the NIA Chairman, Kunle Ahmed, and the management team led by Director-General, Bola Odukale. This was followed by engagements with chief executive officers of AIO member companies in Nigeria and other arms of the insurance industry.
It concluded with a dinner hosted in honour of the AIO delegation, which also had in attendance past AIO Chairman, Mr Tope Smart, and board member, Mr Eddie Efekoha.
Baptiste commended the resilience and continued growth of the Nigerian insurance industry, noting that Nigerians have provided leadership to the AIO for over a decade.
“This is significant because it reflects strong support for both the system and the organisation. Nigeria contributes the highest number of delegates to AIO events every year. We are here to open discussions with our Nigerian members and are ready to act on your suggestions to serve you better,” he said.
He also revealed that the AIO had successfully engaged with the African Continental Free Trade Area Secretariat to be recognised as the official voice of the insurance industry on the continent.
Baptiste disclosed that the organisation, in partnership with the United Nations Development Programme and the African Reinsurance Corporation, is conducting a feasibility study on harmonising regulatory frameworks across the continent.
The initiative, he said, would enable insurers licensed in one African country to operate seamlessly in others, removing licensing barriers and promoting true economic integration.
He further highlighted the importance of the Pan-African Payment and Settlement System, developed by Afreximbank, which he said has acknowledged the relevance of insurance companies in advancing the system.
Speaking on the AIO’s upcoming general assembly, Baptiste invited Nigerian stakeholders to participate, noting that the event will focus on the rising debt burden in Africa and its implications for the insurance sector.
Commenting on behalf of Nigerian insurers, NIA Chairman Kunle Ahmed appreciated the AIO’s visit and reaffirmed Nigeria’s commitment to strengthening its engagement with the Organisation.
He also called on the AIO to support Nigeria in developing a mortality table and building actuarial capacity, as well as helping the market leverage opportunities under the AfCFTA.
“We look forward to deeper collaboration with the AIO to unlock the full potential of the Nigerian insurance industry and contribute meaningfully to regional economic development,” Ahmed said.
