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By Henry Uche
The National Insurance Commission (NAICOM) has issued an operational license to CHI Life Assurance Limited. The ceremony took place at the Commission’s boardroom in Abuja recently.
During the event, Commissioner for Insurance, Mr. Olusegun Omosehin, welcomed CHI Life Assurance executives and encouraged them to make a positive impact on the industry. He assured them of NAICOM’s dedication to creating an enabling environment for operators to thrive.
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Mr. Omosehin emphasised the importance of regulatory compliance and advised the new management to seek clarification from NAICOM whenever necessary. He then charged the Board of Directors to always fulfill their responsibilities, noting they would be held accountable by the Commission.
Deputy Commissioner Technical, Dr. Usman Jankara, congratulated the company’s executives and outlined areas to focus on, which are ;Adhering to regulatory rules and regulations , meeting capital requirements to avoid regulatory sanctions, managing risks, complying with anti-money laundering guidelines, ensuring fair treatment of consumers and simple claim settlement processes and preparing for regular inspections by NAICOM.
In response, the company’s Managing Director, Mrs. Ose Oluyanwo, expressed gratitude for the license and pledged to collaborate with NAICOM to ensure full compliance with regulatory laws and guidelines.
