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•Pledges rapid restructuring
By Henry Uche
The Group Managing Director/ CEO of Consolidated Hallmark Insurance Plc, Eddie Efekoha, recently assumed office as the 40th President of the West African Insurance Companies Association (WAICA).
He took the oath of office at the closing dinner marking the 50th Anniversary of the Association held in Lagos.
Efekoha who succeeds Mr. George Mensah, is a boardroom guru and seasoned insurance professional who has been the head of seven different companies and presently holds the position of Chairman of Grand Treasurers Ltd among others portfolios.
Speaking during his investiture, the new WAICA boss unveiled a 3- point agenda to give new direction to the Association for the next one year. According to him his tenure would galvanise collective knowledge, strength, and will power of members to build the WAICA of the dream and aspirations of its founding fathers.
“My election presents another opportunity for all stakeholders of WAICA family to re-appraise its condition and chart a new course to strengthen the body for more far-reaching contributions to the socio-economic development of west Africa.
“I pledge to continue to uphold and promote the ideals of WAICA as we collectively strive to take the Association to the next higher level by focusing more on areas that require improvement in order to actualize our desire to build a sound, efficient and financially stable WAICA capable of adding value to its members across West Africa”
He said he would first ensure proper restructuring and staffing of the WAICA Secretariat, noting that he would work with the West African Insurance Supervisors (WAISA) to harmonise policies and regulations within the sub-region and make WAICA a repository of information on insurance in West Africa.
To achieve he said “the West African Insurance industry need to collectively, and in unity, step up its actions by being the backbone of the various economies, provide the much-required peace of mind for all stakeholders in these crucial times and create an enabling environment for industries and economies in the sub-region.
“We will work hard to reinvent WAICA for more value addition. I will work closely with other stakeholders including the regulators across the sub-region to give WAICA the required impetus and support to serve the insurance industries and the nations better.
“Together, from the chores of Gambia to Ghana to Liberia to Nigeria and to Sierra Leone, we shall work together to ensure that insurance takes its rightful place in the Anglophone West African States and will become the envy of all on how insurance should be practiced for profitability, in unity, integrity, professionalism, hindsight and foresight,” he assured.
At the same conference, WAICA approved the appointment of Mr. Davis Ebelechukwu Iyasere, as the new Secretary General/Chief Executive Officer (CEO) of the sub- regional body. His appointment followed the retirement of the immediate past Secretary General/CEO, Mr. William Coker. With this appointment, Iyasere becomes the first Nigerian to occupy the exalted position in WAICA’s 50 years of existence.
Prior to his appointment, Iyasere was the deputy director in charge of Corporate Communications, Human Resource, and Administration at the Nigerian Insurers Association (NIA) where he had a career spanning almost two decades. Whilst in the services of the Association, he was noted for his dedication to duty, and commitment to the ideals of the association.
As Secretary General / CEO, he will oversee the activities of insurance institutions in Nigeria, Ghana, Liberia, Sierra Leone, and The Gambia, while he will operate from the Association’s secretariat in Accra, Ghana.
