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Economic, financial and management experts are set to examine emerging market dynamics in Nigeria’s insurance and pension sectors following the just-concluded recapitalisation exercise of the insurance industry. This is even as a similar exercise is ongoing in the pension sector.
With over N1.08 trillion mopped up from the recapitalisation, industry doyens and doyennes will engage in a cross-fertilisation of ideas during the 11th edition of the annual national conference of the Nigerian Association of Insurance and Pension Editors (NAIPE) slated for 8 October at Oriental Hotel, Lagos.
With the theme, ‘Post-Recapitalisation and Market Dynamics in Insurance & Pension Sectors’, the Chief Executive Officer of United Capital Asset Management Limited, Dr Odiri Oginni, will deliver the keynote address, while the Group Managing Director of Custodian Investment Plc, Mr Wole Oshin, will chair the discourse.
According to NAIPE, the conference is coming at a critical period for the two sectors, as insurance operators have just concluded their recapitalisation exercise, while pension operators are expected to conclude theirs by 2027.
The confab will examine how funds raised through recapitalisation can be strategically invested and deployed to generate stronger returns, deepen market confidence and improve service delivery to shareholders and policyholders.
Expected participants include the Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olusegun Omosehin; Director-General of the National Pension Commission (PenCom), Ms Omolola Oloworaran; chief executives of insurance companies, broking firms, investment and securities companies and Pension Fund Administrators (PFAs), as well as regulators, labour unions, students and other stakeholders.
Speaking ahead of the conference, the Chairperson of NAIPE, Mrs Ebere Nwoji, said the annual gathering provides a platform for insurance and pension journalists to contribute to the development of both sectors by promoting greater public understanding of insurance and pension as instruments for financial security and protection against old-age poverty.
She expressed appreciation to operators and regulators in the two sectors for their continued support for the conference, stressing that the benefits derived from the annual event outweigh the resources committed to organising it.
Nwoji described this year’s theme as timely, given the significant structural changes taking place in the insurance and pension industries through recapitalisation.
The NAIPE chairperson applauded the leadership of NAICOM for successfully concluding the insurance industry’s recapitalisation exercise, describing it as a major achievement for Omosehin.
According to her, the Commissioner ‘took the bull by the horns’ in breaking what she described as the longstanding cycle of inconclusive recapitalisation exercises in the insurance industry.
Nwoji also expressed optimism that the pension industry, under the leadership of Ms Omolola Oloworaran, would achieve a seamless and successful recapitalisation exercise.
The renowned journalist said: “The conference would provide operators with an opportunity to gain insights into prudent and judicious investment of the capital raised through the recapitalisation process.
“I believe speakers at the event would provide practical perspectives on how insurance and pension operators can deploy their strengthened capital bases to deliver superior investment returns while enhancing value for investors, shareholders and policyholders.”
The conference is expected to attract major stakeholders across the financial services industry and provide a platform for robust discussions on the future direction of Nigeria’s insurance and pension markets in the post-recapitalisation era.
