Vibrant insurance industry important to Nigeria’s growth – Elumelu

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The Chairman, Heirs Holdings and United Bank for Africa Plc, Tony Elumelu, has said the Nigerian insurance industry needs to be vibrant and must possess capital, professionalism and democratisation which are foundations for a strong Nigeria.

“In a country of 200 million, we can, should and must be more relevant than we are today. I am an optimist, not a pessimist. I know that times are tough, but together we can, and we will transform our industry, create value, and provide solutions that demonstrate the value of insurance to our people.”

The Commissioner for Insurance, Mr Sunday Thomas, called for more collaboration and efforts in enabling access to insurance. He said, “It is a fundamental truth that the insurance sector exists for other sectors to thrive. A lot has been achieved, but there is still more work to be done. Until insurance becomes the oxygen that homes and other industries breathe, and a subject that is known to everyone, we have not arrived.”

The President, NCRIB, Mr Rotimi Edu, appreciated Elumelu for delivering the keynote address at the event, while making a commitment on behalf of the council to further deepen insurance penetration in Nigeria. “The council is already creating avenues through strategic engagements with notable governmental and non-governmental institutions to deepen the industry in the country,” he said.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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