By Favour Pius
The Nigerian Insurers Association (NIA) has called for stronger documentation of
Industry history and renewed collaboration among stakeholders, as it marked its 55th anniversary with its 2026 Awards and Recognition Ceremony in Lagos.
Speaking at the programme at the weekend, the Chairman, Kunle Ahmed, urged past leaders of the association to document their experiences, describing institutional memory as critical to sustaining reforms and guiding future leadership in the insurance sector.
Ahmed commended former chairmen and members of the governing council for their role in shaping the industry, noting that their contributions largely rendered without financial reward had laid the foundation for the sector’s credibility and growth.
He added that publications by past leaders would serve as reference points for decision-making and help extend the influence of insurance beyond the sector.
Ahmed also disclosed that NIA Governing Council had approved the institutionalization of honouring past leaders as a regular feature of its activities, to preserve the association’s heritage.
Representing the National Insurance Commission (NAICOM) , the Deputy Commissioner for Insurance (Finance & Administration, Ekerete Ola Gam-Ikon, underscored the importance of stronger collaboration between regulators and operators to deepen market penetration and enhance consumer confidence.
He noted that while the industry had recorded progress in recent years, particularly in governance and compliance, there was a need for sustained innovation, improved claims settlement processes and broader financial inclusion to unlock the sector’s full potential.
Gam-Ikon, reiterated the commission’s commitment to ongoing reforms aimed at strengthening the regulatory framework and ensuring a more resilient and competitive insurance market.
Other stakeholders, including operators and industry leaders, echoed similar sentiments, stressing that how insurance penetration, limited public awareness and trust deficits remain key challenges confronting the sector.
He called for increased investment in technology, public education and product innovation to drive growth, particularly among underserved segments of the population.
Almed, however, maintained that despite the progress made over the past five decades, more work remains.
“As we look to the future, let us draw strength from the past. We have made giant strides, but there are still several bridges to climb and rivers to cross,” he said.
The ceremony attracted key players across the financial services ecosystem, including regulators, operators and professional bodies.
Among those honoured were former Commissioner for Insurance, including Mohammed Kari, Sunday Thomas and Fola Daniel.
Also recognized was the President of the Chartered Insurance Institute of Nigeria, Yetunde Ilori, who received a special recognition award for her contributions to the industry.
Other awarees included Olusola Ladipo-Ajayi, Tope Smart and Ftai Lawal, among others.
